{"id":3353,"date":"2021-03-30T13:45:46","date_gmt":"2021-03-30T11:45:46","guid":{"rendered":"https:\/\/www.marbellaforsale.com\/blog\/?p=3353"},"modified":"2021-03-30T13:45:46","modified_gmt":"2021-03-30T11:45:46","slug":"cost-of-renting-falls-first-time-in-5-years","status":"publish","type":"post","link":"https:\/\/www.marbellaforsale.com\/blog\/cost-of-renting-falls-first-time-in-5-years\/","title":{"rendered":"Cost of Renting Falls – First Time in 5 Years"},"content":{"rendered":"
\"Madrid

Madrid – most expensive community for renting<\/p><\/div>\n

The average price of rental housing in Spain fell by 1.7% year-on-year in February<\/strong>, the first fall following almost six years of increases.<\/p>\n

When compared to January, the fall in the cost of rental housing was -0.9%. This brings the average cost per square metre per month to \u20ac10.48, according to data from fotocasa<\/a>. The fall in February is the first since July 2015 (-1.8%)<\/strong>.<\/p>\n

“The price of rental housing changed trend in February with the first year-on-year drop after more than five years of chain increases, with the exception of January 2021 when the price remained stable compared to January 2020. This change in trend is the result of the situation we are experiencing, such as the growth in the supply of rental housing and the lower demand from Spaniards. This has meant that in recent months the price began to moderate and little by little it has been increasing with less force until finally turning into a negative variation, as we have been seeing for months in cities like Madrid and Barcelona where it has fallen more than -10%<\/em>,” explained Ana\u00efs L\u00f3pez, Fotocasa’s Director of Communication.<\/p>\n

Autonomous Communities<\/h3>\n

In Spain, nine autonomous communities presented negative monthly data<\/strong> in February 2021. La Rioja, with a decrease of -1.8%, showed the largest fall. Others include the Basque Country (-1.1%), Madrid (-0.8%), the Balearic Islands (-0.6%), Catalonia (-0.3%), Extremadura (-0.2%), Asturias (-0.1%), Andalusia (-0.1%)<\/strong> and Navarra (-0.1%).<\/p>\n

Meanwhile, the price of Spanish rental housing<\/a> increased slightly in the communities of Castilla y Le\u00f3n (1.8%), Galicia (1.4%), Cantabria (1.2%), the Canary Islands (0.9%), Castilla- La Mancha (0.3%), Region of Murcia (0.1%), Valencian Community (0.1%), Basque Country (1.0%), the Balearic Islands (0.4%), and Aragon (0.0%).<\/p>\n

Looking at the average rental prices in the Autonomous Communities, the most expensive rental housing prices are seen in Madrid and Catalonia, with prices of \u20ac13.92 p\/m\u00b2 per month and \u20ac13.87 p\/m\u00b2 per month, respectively. They are followed by the Basque Country with \u20ac13.16 p\/m\u00b2 per month, the Balearic Islands with \u20ac11.23 p\/m\u00b2 per month, Navarra with \u20ac9.92 p\/m\u00b2 per month, the Canary Islands with \u20ac9.47 p\/m\u00b2 per month, Cantabria \u20ac8.71 p\/m\u00b2 per month, Andalusia \u20ac8.55 p\/m\u00b2 per month<\/strong>, Aragon with \u20ac8.35 p\/m\u00b2 per month, Valencian Community with \u20ac8.28 p\/m\u00b2 per month, Asturias with \u20ac7.78 p\/m\u00b2 per month, Castilla y Le\u00f3n with \u20ac7.23 p\/m\u00b2 per month, Galicia with \u20ac7.18 p\/m\u00b2 per month, La Rioja with \u20ac6.93 p\/m\u00b2 per month, Region of Murcia with \u20ac6.83 p\/m\u00b2 per month, Castilla-La Mancha with \u20ac5.91 p\/m\u00b2 per month and Extremadura with \u20ac5.24 p\/m\u00b2 per month.<\/p>\n

Provinces<\/h3>\n

Rental prices increased in 25 provinces<\/strong>. The most pronounced monthly increase was recorded by Huelva (7.4%), followed by Palencia (3.8%), Ja\u00e9n (3.4%), C\u00e1ceres (3.2%), Lugo (2.9%), Salamanca (2.8%), Ourense (2.6%), Pontevedra (2.3%) and \u00c1vila (2.2%), among others.<\/p>\n

On the other hand, the top ten decreases were in Zamora (-3.9%), Toledo (-1.9%), Badajoz (-1.8%), La Rioja (-1.8%), Lleida (-1.8%), Gipuzkoa (-1.7%), Girona (-0.9%), Madrid (-0.8%), Araba – \u00c1lava (-0.7%) and the Balearic Islands (- 0.6%).<\/p>\n

Regarding prices, six provinces exceed 10.00 euros per square meter per month. The most expensive province is Gipuzkoa with \u20ac14.82 p\/m\u00b2 per month, followed by Barcelona (\u20ac14.67 p\/m\u00b2 per month), Madrid (\u20ac13.92 p\/m\u00b2 per month), Bizkaia (\u20ac12.50 p\/m\u00b2 per month), Araba – \u00c1lava (\u20ac11.51 p\/m\u00b2 per month) and the Balearic Islands (\u20ac11.23 p\/m\u00b2 per month. The lowest rental price was seen in C\u00e1ceres with \u20ac5.13 p\/m\u00b2 a month.<\/p>\n

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