Rental Prices Decline 0.2% in May & Accumulate a 32% Slump Since 2007 Peak

24/06/2014 – Finanzas

According to a recent study by realtor portal, average price of leasing a house in May post 6.9 €/square meter. In comparison to April, the value fell by 0.2% and if juxtaposed with the 2007 maximum level (10.12 €/m2), the slump marks 31.8%.

Eight regions registered drop-offs higher than 30% with Aragon as an undisputable leader (-43.2%), followed by Cantabria (-38.1%), the Valencian Community (-37.8%), Castille-La Mancha (-34.7%), Murcia (-33.6%), Catalonia (-32.7%), La Rioja (-32.3%) and Andalusia (-30.7%).

When it comes to the three-month figures (here from February to May), rental prices remain steady, while in year-on-year terms, in May the values decreased by 3.2%.

Four regions saw prices rising in May: the Balearic Islands by 1.2%, Navarra  by 0.6%, La Rioja by 0.3% and Madrid by 0.1%. Negative values were noted down in 12 regions: Castille-La Mancha and Murcia by 1% in each, followed by Extremadura and the Valencian Community with -0.7% in both regions.

Once more, the Basque Country (9.51 Euros/sqm/month), Madrid (€9.04) and Catalonia (€8.37) take the lead in the most expensive lease ranking. On the other end, one may find Extremadura (€4.40) and Castille-La Mancha (€4.73) as the most affordable in terms of renting a dwelling.


Original article: Finanzas

Translation: AURA REE