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Spanish rental prices fall in 2011

The average cost of renting a home in Spain declined in 2011, as you would expect with property prices falling.

Rental prices fell in 77pc of Spain’s primary rental markets (cities), according to a study by Spanish property portal Idealista.com and the Public Rental Company(SPA).

Rents fell the most in Toledo (-8.7pc) and Oviedo (-6.8pc) but rose in Lleida (+11.2pc), Bilbao (+4.2pc), and Alicante (+4.1pc).

In Spain’s biggest cities, rental prices fell 1.3pc in Madrid, 3.1pc in Barcelona and 4pc in Valencia.

The latest annual rental decline follows a bigger decline in 2010, so the cost of both buying and renting a homes in Spain has been getting cheaper for several years.

The study was based on 38,000 properties listed for rent in the 12 months to the end of December.

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One thought on “Spanish rental prices fall in 2011

  • Bill Osment says:

    Hi Mark,

    Thanks for keeping me informed of the intricacy of the Spanish property market. I was wondering if there is any other info you may have on rental properties?

    My old house is in a very rural village near Jaen and I seem unable to find info on starting it as a rental business. We’ve owned it for 10 years and have no mortgage but it stands empty for most of the year, which seems a shame.

    I’d be grateful for any pointers.

    Thanks and best wishes,

    bill

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