Spain Property News

Rents Increased by 0.2% in January

The average price of renting a home in Spain rose by 0.2% during January, compared with the same month last year, according to data from the National Statistics Institute collected by Servimedia.

The increase in rental prices lies at 2.5 points below the overall CPI, which stood at 2.7% in January. Notably, month-on-month, the cost of leases fell by 0.1%. El Mundo reported that nine regions experienced a lowering of rental prices in January year-on-year, although in three of those it was minimal (Andalusia, the Canary Islands and Castilla-La Mancha).

The price of home rentals dropped furthest in Murcia (-1.5%), Navarra (-1.2%), La Rioja (-0.9%), Madrid (-0.8%), Valencia (-0.5%) and Aragon (-0.3%).

At the other end, rents rose most in Catalonia, by 1.2%, followed by Ceuta (+1.1%), Melilla (+0.9%), Galicia (+0.9%), the Basque Country (+0.8%), Asturias (+0.7%), Castilla y León (+0.7%), the Balearic Islands (+0.5%), Cantabria (+0.4%) and Extremadura (+0.2%). By province, the data highlighted the declines located in Castellón (-2%) and Cordoba (-1.6%), and the increases in Barcelona and Salamanca (both with +1.4%).