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Renting Prices Creep by 0.2% Higher in January But Fall by 5.2% In Annual Terms

18/02/2014 – Expansion & Europa Press

Despite the slight upsurge, Extremadura lingers as the region with the lowest price per square meter rented, that is €4.49.

Considering the autonomous communities of Spain one-by-one, twelve of them noted down falls in renting prices in January: Aragón (-0.6%), Cantabria (-0.5%), Catalonia, Madrid, Castilla y León and the Canary Islands (-0,4% in all of the regions).

On the other hand, in Murcia, La Rioja, Extremadura and the Basque Country the price went up by 0.6%, 0.5%, 0.2% and 0.1%, respectively in the first month of 2014. In Castilla – La Mancha they stagnated.

The highest prices per square meter are found in: the Basque Country (€9.46 per month), Madrid (€9.01) and Catalonia (€8.29), while the lowest are registered in Extremadura (€4.49) and Castilla-La Mancha (€4.82).

In national terms, the renting price declined by 5.2% in reference to the same month in 2013 and set itself at €6.87 per month, according to the data gathered by fotocasa.es, analyzed by the IESE Business School that also show a monthly fall of 0.5%. (…).

Since the real estate bubble burst, the rental prices depreciation (-32.2%, it was €10.20 in 2007) is smaller than the one accumulated by purchase (-41.3%).

 

Original article: Expansión  (Mérida), Europa Press 

Translation: AURA REE