MADRID: As the property market in Spain begins to recover rental prices are gradually starting to increase, having Spanish property rental prices increasefallen steadily over recent years in line with sale prices.
The latest data published by fotocasa.es show that the average rental price in Spain in July was €7.10 per square metre per month, an increase of 4.8% compared to July 2014 but almost 30% lower than the peak of €10.12 which was reached in July 2007.
Over the last eight years rental prices, like sale prices, have fallen by different amounts in different regions of Spain. The sharpest decreases have been in Aragón (41.4%), the Comunidad Valenciana (35.4%), Castilla-La Mancha, Cantabria (both 35.3%), Murcia (31%), Asturias (27.9%) and Andalucía (27.5%), while in other areas a rental price fall of only just over 12% has been observed.
During the month of July the only region in which rental prices fell was Navarra (by 0.6%), while at the other end of the scale prices climbed in Murcia by 2.6%, in Madrid by 1.6% and by over 1% in Asturias, the Balearics and Cantabria.
