The average cost of renting a home in Spain continued its downward path in June, suggesting that Spanish property prices have further to fall.
Average Spanish rental prices fell 0.5% in June compared to the same month last year, according to the Consumer Price Index (CPI) published by the National Institute of Statistics (INE).
Rental prices in Spain have now fallen for 27 consecutive months, though the CPI has also been falling, clocking up 11 months of consecutive falls leading up to June. So rents are not the only category of goods and services that are getting cheaper in Spain, where the overall cost of living is falling.
Rents got cheaper in all Spain’s autonomous regions bar Catalonia and the Balearics, where rents went up 0.3% and 0.1% respectively. Rents in Catalonia were driven up by Barcelona property rents in particular.
Rents fell the most in Murcia (-1.5%), La Rioja (-1.4%), Madrid (-1.1%), and the Valencian Community (-1%), and by less than 1% in all other regions including Andalusia and the Canaries.
