Spain Property News

Spain: Rental Prices Rose 0.7% in April

Spain: Rental Prices Rose 0.7% in April
The average price of home rentals in Spain grew by 0.7% during April, compared to same month of 2011, according to latest figures released on Friday by the National Statistics Institute.

The increase in rental prices stands 1.4 points below the overall CPI, which reached 2.1% in April. However, rental prices did not record any variation month-on-month.

By region, rental prices decreased in only two. These were Murcia and La Rioja, where prices decreased by 1.2% and 0.3% respectively. In Navarra and Valencia no variation was registered.
Prices increased the most in Catalonia, with 1.4%, followed by the Basque Country and Asturias, both with 1.2%, Castilla y León, with 1.1%, and Galicia, with 1%.

With increases of less than 1% were Andalusia (0.8%), Melilla (0.7%), Ceuta (0.7%), the Canary Islands (0.6%), Extremadura (0.5%), Castilla-La Mancha (0.5%), Cantabria (0.4%), Aragon (0.4%), the Balearic Islands (0.4%), and Madrid (0.2%).

As well as in Murcia and La Rioja, the rents dropped in the provinces of Alicante (-1.1%), Castellón (-1%), Huelva (-0.7%), Huesca (-0.4%) and Ávila (-0.2%). In contrast, the largest increases by province, were recorded in Palencia (1.7%), followed by Lugo, León, Granada and Barcelona, all with 1.6%.

Furthermore, El Mundo reported that as far as the costs of house maintenance were concerned, prices rose 1.4% year-on-year, which is seven percent less than the overall index, and remained stable in the month of March.