Home Rental Prices Fell in Spain

 

 

The average price of renting a home in Spain fell by 0.2% during the month of August, compared with the same period in 2012, according to the latest data from the National Statistics Institute.

Thus, the evolution of rental prices lies 1.7 points below the rate of the Consumer Price Index (CPI), which in the eighth month of 2013 stood at 1.5%.

Month-on-month, home rental prices registered a fall of 0.1%, and so far this year the decline is 0.3%.

Year-on-year, rental prices fell in 11 regions, with the biggest decreases being recorded in Navarra (-1.8%), followed by Madrid (-1.6%), and Murcia and La Rioja, both down 1.3%.

Registering the lowest declines in rental prices were Extremadura, with a drop of 0.7%, Valencia (-0.5%), and Andalucía, Aragón, the Canary Islands and Castilla-La Mancha, all down 0.4%. Rental prices in the Balearic Islands fell by 0.1%.

Meanwhile, El Mundo reported that rental prices registered the biggest increases in the autonomous cities of Ceuta (+1.3%) and Melilla (+1.2%), followed by Galicia (+1.1%), Castilla y León (+0.9%), Catalonia (+0.7%), Cantabria (+0.6%), Asturias (+0.5%) and the Basque Country (+0.4%).

With regard to the provinces, notable increases were registered in Burgos (+1.6%), Guadalajara (+1.5%) and Palencia (+1.5%), while Almeria and Cuenca both registered falls of -1.5%, the biggest decreases after the uni-provincial regions of Navarra and Madrid.

 

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