Home Rentals Record July Decline of 0.2%

August 19th, 2013

Year-on-year the price of home rentals fell by 0.2% in July, representing the biggest drop in the National Statistics Institute’s time series, which began in 2002.

With the July result, released by the Institute last week, home rentals have accumulated four consecutive months of declines, and a decline of 0.3% so far this year. In addition, the rental price indicator remains more than one and a half points below the overall CPI, which last month stood at 1.8%.

By region, El Mundo reported that the most significant decreases were registered in Navarra (-2.1%), Madrid (-1.5%), Murcia (-1.3%), La Rioja (-1.1%), Aragón (-0.7%), Extremadura (-0.6%), the Canary Islands (-0.5%), Castilla-La Mancha (-0.5%), Valencia (-0.4%) and Andalusia (-0.3%).

Meanwhile, increases were registered for Melilla (+1.3%), Galicia (+1.1%), Ceuta (+0.9%), the Basque Country (+0.8%), Catalonia (+0.7%), Castilla y León (+0.7%), Cantabria (+0.6%), and Asturias (+0.3%). No variation was registered for the Balearic Islands.

With regard to housing maintenance costs, the prices rose by 2% year-on-year, two tenths more than the general index, and remained stable compared to the previous month.

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