The average cost of rental housing in Spain fell in September 2015 by 0.4% compared to the same period last year. This tells the portal Spanish Property Insight , citing data from recent research of the National Institute of Statistics of the country.
To date, rental prices in Spain have been declining for 30 consecutive months. This suggests that the market is still saturated with the proposal and sellers who can't sell their homes, are turning to the rental market, according to the study.
In September of the current year the cost of renting has decreased in all regions of Spain except Catalonia, where it rose by 0.2% and the Balearic Islands (+0.2 percent). Most rental prices have fallen in La Rioja (of -2.6%), Madrid (-1,1%), the province of Valencia (-0,8%), as well as in Murcia and Andalusia (-0,5%).
The study says that, if rental prices continue to fall, it may negatively affect the prices of sale housing in particular outside of Madrid and Barcelona, in which the market is supported by stable foreign demand.
HomesOverseas.ru
