Renting Becomes Cheaper With Every Month

16/09/2014 – El Mundo

Over the last 17 months, the owners of homes for rent have been asking for less and less from their tenants. In August, rental costs declined by 0.7% on the year-on-year basis and fell by 0.8% in month-on-month comparison, reports Spains Office for Statistics (or INE).

The downward tendency has been checked with the Consumer Price Index (CPI) and the August result indicates a 0.5% fall in regard to the general rate.

On the other hand, the renting expense remained stable in monthly terms and year-to-date it showed a 0.5% decline.

By Spanish regions, tenants pay less in 15 of them in year-on-year development. Thus, the rental costs decreased most in Navarre (-2.2%), Murcia (-1.9%), Madrid (-1.6%), La Rioja (-1.4%), Castille-La Mancha (-1.1%) and Extremadura (-1.1%). They only went 0.1% up in Catalonia and Asturias.

In the rest of the regions, the landlords cut in prices by: 1% in Andalusia and the Valencian Community, by 0.9% in the Canaries, by 0.7% in Castille and León, by 0.6% in Cantabria and the Basque Country, by 0.3% in Aragon and the Balearic Islands and by 0.2% in Galicia. In turn, in Melilla the rents climbed slightly (+0.6%) and in Ceuta they depreciated by 0.5%.

 

Original article: El Mundo (after: Servimedia)

Translation: AURA REE

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