Home Rental Prices Steady

According to the latest data released by the National Statistics Institute, the average price of renting a home in Spain, is practically frozen. The Institute reported that rents rose just 0.1% in February compared with the same month of 2012.

This increase in rental prices stands 2.7 points below the general consumer price index, which stood at 2.8% in February. Moreover, month-on-month the cost of home rentals remained unchanged.

Rental prices lowered in nine regions, year-on-year, in February. The largest decreases were registered in Navarra (-1.8%) and Murcia (-1.6%), followed by La Rioja (-0.9%), Madrid (-0.9%), Valencia (-0.6%), Aragon (-0.3%), the Canary Islands (-0.2), Castilla-La Mancha (-0.2%) and Andalusia (-0.1%).

On the other hand, El Mundo reported that rental prices increased most in Ceuta, with +1.5%, followed by Galicia (+1%), Catalonia (+1%), Melilla (+1%), the Basque Country (+0.8%), Castilla y León (+0.7%), the Balearic Islands (+0.5%), Asturias (+0.5%), Cantabria (+0.5%) and Extremadura (+0.2%).

By province, the Institute’s data highlighted the declines in Castellón (-2.2%), Segovia (-1.7%) and Cordoba (-1.6%), and the increases in Burgos (+1.5%) and Barcelona (+1.2%).