Rents Increase Less than Inflation
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
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