Renting is cheaper in Spain

In July 2013 the annual decline in rental rates for residential property was 0.2% compared to the same period of the previous year, this is the most significant drop since early 2002, according to Spanish property portal Kyero.com , citing data from the National Statistics Institute. The cost of rental rates decreased for the fourth consecutive month. The most significant drop, according to the Spanish edition of El Mundo, recorded in Navarre (2.1%), Madrid (1.5%), Murcia (1.3%), La Rioja (1.1% ). In the Canary Islands, Valencia and Andalusia rent for this period fell by 0.5%, 0.4% and 0.3% respectively. In some regions of Spain the prices for rental housing rose. In Melilla growth was 1.3, in Galicia - 1.1%, the Basque Country - 0.8% and Catalonia - 0.7%. According to the source, the year the cost of maintenance of housing rose by 2%. HomesOverseas.ru