Rents Are Starting to Increase

19/08/2014

The average Price of rent in Spain was, in the first half of 2014, around 6.88 euros per metre square per month, according to the report developed by the property portal fotocasa.es and the IESE business school. According to their estimations, renting an 80 square metre homes costs 542 euros on average in Spain, 33% less than before the financial crisis. A home of the same characteristics cost, on average, 810 euros in 2007.

However, this considerable reduction in prices is beginning to bounce back and, at the end of the second quarter this year, the price of rent of a home rose by 1.5% compared with the previous quarter, according to Iese and fotocasa.es. “The study shows a quarterly increase of the price of housing for the first time in 12 quarters (three years).” The increase in rents has been noted in 12 autonomous regions and 24 provinces.

Translation: AURA REE

62