Pay Most Renting in Madrid and the Basque Country

8/07/2014 – Expansion

According to real estate-selling portal, the Basque Country and Madrid are the most expensive regions in Spain in terms of renting a property. If it comes to the first solely, a 92 square meter flat for rent in Euskadi cost €886 on average in June. Biannually, the amount declined by 1.29%, while annually by -1.46%. Month-on-month, the prices rose by 1.01% and went up by 0.03% quarter-on-quarter.

Compared with the December 2013 figures, Alava (+1.09%) is the only province where the prices have increased. On the other side, Gipuzkoa (-5.80%) takes the third position in the country´s value drop ranking, whereas Biscay (-1.47%) saw the slighest depreciation. Over the past year, Gipuzkoa is the fourth in the country in slashing rental prices (-8.95%), while quarterly it ranks the third (-3.15%).

With a monthly leasing cost set at 903 Euros on average in June 2014, Biscay is the second most expensive city in Spain, whereas  Gipuzkoa (862 €/month) and Alava (694 €/month) position the third and the sixth respectively.

Speaking of the Basque capitals, in the first half of the year, Vitoria drove the prices up the least (+0.31%), on the contrary to Donostia-San Sebastian (-4.85%) which represented the most blatant falls in Spain, while the prices in Bilbao (-0.21%) almost did not change. Compared with June 2013, the Gipuzkoan capital takes the fourth position in Spain´s top decreases. On the other hand, Bilbao (-0.41%) is the second with an insignificant devaluation.

When it comes to mean monthly payments registered in the entire country, Donostia-San Sebastian (1.004 €/month), Bilbao (902 €/month) and Vitoria (694 €/month) rank the second, the fourth and the sixth, respectively.


Original article: Expansión

Translation: AURA REE