• The average rental price in June stood at 8.11 € / m2 per month
• The price rises in 16 regions on a quarterly basis
• The variation is 9.4%
• the price increases in 13 districts of Madrid and Barcelona three

The average price of rental housing in Spain increased by 2.3% in the second quarter and places the price, to June 2017, at 8.11 € / m2 per month, according to the latest data from the Real Estate Index Fotocasa. This quarterly increase in the price of rental housing continues the upward trend that prevailed during 2016, only with the exception of the third quarter of 2016, when the price fell 2%.

 

“The commitment of investors by offering high returns home purchase to put in rent; the fact that many Spaniards are forced to take refuge in this market to the inability to access the home buying; the change of mentality in favor of this lifestyle and the boom of tourism rent are the factors behind the strong tensions that records the rental price. Although the biggest gains are concentrated in Catalonia, Madrid and the main tourist areas fotocasa data highlight that month rise in rents is widespread throughout the country , “explains Beatriz Toribio, responsible for studies.

In the second quarter the rental price increases by 16 autonomous communities on a quarterly basis and 16 yoy. In fact, the annual variation recorded the second quarter (9.4%) is the highest in the whole historical series of real estate index, dating back to 2006. It was last March 2017 when it registered the highest of all the time series, namely 10.5% year change.

It should also be noted that the rental price increases leading to post positive quarterly level for eight months, from November 2016, yoy and 28 consecutive months, namely from March 2015.

Since prices peaked in May 2007 (10,12 € / m2 per month) the price of housing has accumulated a fall of -19.9%. In this regard, nine regions recorded declines greater than -20% since they reached the maximum price nine years ago. Thus, Aragon is the community that has seen the rental price down (-38.4%), followed by Castilla-La Mancha (-32.3%), Cantabria (-30.6%), La Rioja (- 27.2%), Asturias (-25.6%), Galicia (-24.6%), Valencia (-23.9%), Murcia (-21.8%) and Andalusia (-20.5% ).

By region, in the second quarter 16 increases were recorded in the rental price, with increases ranging from 7.3% to 0.4% of Murcia Catalonia.

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