Price of Rental Housing Accumulates Over Two Years of Declines

The average price of rental housing in Spain fell by 0.6% in April, compared to the same month of 2014, according to the latest consumer price index (CPI) published by the National Statistics Institute last week.

Thus, El Mundo reported that, according to the CPI, housing rental prices have now accumulated 25 consecutive months of declines, with the April figure standing at the same level as the decline in the overall CPI (-0.6%).

Month-on-month home rental prices fell by one-tenth, bringing the accumulated decline in the first four months of the year to -0.2%.

By region, home rental prices fell in all regions except for Catalonia and the Balearic Islands, where they grew year-on-year by 0.2%.

In contrast, the most pronounced declines were registered in Murcia, where prices fell by 2%, followed by Madrid, Navarra and La Rioja, all of which registered declines in home rental prices of 1.3%.