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The price of rental housing moderates its year-on-year rise to 3.9% in August, according to Fotocasa

MADRID, 27 Sep.

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The price of rental housing moderates its year-on-year rise to 3.9% in August, according to Fotocasa

MADRID, 27 Sep. (EUROPA PRESS) -

The price of rental housing in Spain fell by 3.4% in August compared to the previous month, but rose by 3.9% compared to August 2021, reaching an average price of 10.83 euros per month. square meter, according to data from the Fotocasa real estate index.

With the data for August, which has moderated the year-on-year rise in July by more than three points, the rental price has chained 34 consecutive months above 10 euros per square meter.

The director of studies at Fotocasa, María Matos, explained that the moderation registered in August in the year-on-year rate of price growth "could be due to a seasonality issue", as the end of summer coincides with a drop in demand.

"If we zoom in on the autonomous communities, provinces and municipalities, almost without exception there are significant increases in the rental price," says Matos, who adds that in the areas with the highest demand the rise in price exceeds two digits, which indicating that the price "continues to rise".

Specifically, compared to the previous year, the rental price has increased in all the autonomous communities, reaching double digits in the Balearic Islands (17.8%), the Valencian Community (16%), Cantabria (15, 4%), Canary Islands (12.6%) and Madrid (11.6%).

The regions with the most moderate increases are the Basque Country (1.7%), Aragon and Andalusia (3.4% in both cases) and Castilla-La Mancha, where the rental price increased by 4% year-on-year in August.

The most expensive region to rent a home is Madrid, with an average price of 15.44 euros per square meter, followed by Catalonia (14.91 euros), the Balearic Islands (13.93 euros), the Basque Country (13.64 euros) , Cantabria (10.97 euros), Canarias (10.87 euros) and Navarra, with 10.40 euros per square meter.

Almost all provinces increased the price of rental housing in August compared to the previous year, with the exception of Guadalajara and Cáceres. In addition, in up to 11 provinces the value of rental housing increased by more than 10% and in only three of them the increase was less than 1%.

The provinces where the price of rental housing increased the most in the interannual rate in August were Girona (19.3%), Alicante (19.2%), Malaga (18.2%), the Balearic Islands (17.8%), Cantabria (15.4%) and Valencia (14.4%).

According to data from the real estate portal, the most expensive provinces to rent are Barcelona, ​​with 15.96 euros per square meter; Guipúzcoa (15.62 euros), and Madrid, with 15.44 euros per square meter.

By municipalities, Fotocasa highlights that the rental price has increased in the last year in 97% of them, mainly in Gandía (Valencia), where the price has increased by 36.7%. In other municipalities of the Valencian and Andalusian coast the increases are also high, above 30%, as in Benidorm (34.6%), Mijas (34.5%), Torrevieja (32.9%) and Fuengirola (30 ,5%).

The only interannual decreases in the price of rental housing correspond to Roquetas de Mar (-0.6%), Mérida (-1.6%) and Sitges (-2.5%).

According to Fotocasa, 61 municipalities registered a price per square meter above 10 euros per month, especially Calvià (19.35 euros), Barcelona capital (19.07 euros), La Moraleja (18.23 euros) and Sanxenxo (18.13 euros per square meter).

At the other extreme, Baeza (Jaén) is the cheapest city for renting a home, with a price per square meter of 4.21 euros per month.