Rents Still Getting Cheaper

December 20th, 2013

taxesRental prices in Spain dropped by 0.5% in November, year-on-year, continuing the trend of recent months, and accumulating eight consecutive months of declines, according to the latest data from the National Statistics Institute.

Thus, housing rental prices show a decline of 0.5% so far in 2013. In addition, the rental price indicator still remains seven tenths below the overall CPI, which stands at 0.2%.

By region, the most significant decreases were registered in: Navarra (-2.3%); Madrid (-1.9%); Murcia (-1.6%); La Rioja (-1.6%); Extremadura (-1.5%); Valencia (-0.8%); Andalusia (-0.7%); Castilla-La Mancha (-0.8%) and the Canary Islands (-0.7%), followed by: Aragón (-0.5%); the Balearic Islands (-0.4%); Cantabria (-0.2%) and the Basque Country (-0.1%).

In contrast, El Mundo reported that increases in rental prices were registered in: Ceuta (+1%); Melilla (+1%); Galicia (+1%); Castilla y Leon (+0.7%); Catalonia (+0.5%) and Asturias (+0.4%).

Finally, in the chapter on housing maintenance costs, prices rose by 1.5% year-on-year, well above the overall index, but rose only a tenth over the previous month.

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