The Latest Spanish Property News from Kyero.com
June 20th, 2008
Average rents in Spain rose by 4.3% over 12 months to the end of May. With consumer prices rising by 4.6% over the same period, this means that the cost of renting property in Spain has fallen in real terms by 0.3%.
Average rents rose the most in Cantabria (6.5%), Aragon (6.1%), Madrid (5.2%), and Castilla-La Mancha (4.5%). Rents rose the least in Navarra (2%).
Whilst average rental costs rose below the inflation rate, the cost of owning and maintaining property has risen above the inflation rate. Building materials for refurbishing properties rose by 5%, and maintenance service costs by 5.2%.
Full story from Spanishpropertyinsight.com
Is any property below €50,000 a cheap Spanish property? Are cheap Spanish properties only to be found at auction or as bank repossessions? How much below market value does a Spanish property need to be to be considered cheap?
Continue reading: What IS cheap Spanish property?
