Rents are going up at half the level of inflation, leaving landlords out of pocket in real terms.

Average rental prices rose 1.1pc in October, according to data from the INE. That was half the level of consumer price inflation, which was 2.3pc in October. As a result the real price of renting a home in Spain fell by an annualised 1.2pc in October.

Rental prices rose the most in the Balearics (+1.6pc), followed by Cantabria (+1.4pc) Galicia (+1.4pc) and Andalucia (1.2pc). Prices rose the least in Murcia (+0.6pc), La Rioja (+0.5pc), Extremadura (+0.1pc) and Navarre (-0.3pc).