Posted on June 24, 2016 in Property
The largest year-on-year increases in rental housing prices are those recorded in the Spanish coastal provinces, according to the latest study carried out by property portal, fotocasa, based on data from their real estate index for the month of May.
In fact, their data shows that, of the 15 provinces where rental prices rose most year-on-year, 13 of the provinces are on the coast. Four of these provinces registered year-on-year increases of over 10%. These were: the Balearic Islands (+18.1%); Huelva (+17.3%); Barcelona (+15.9%) and Alicante (+11.6%), followed by Málaga and Murcia, with increases of 9.9% and 9.8%, respectively.
In contrast, none of the nine provinces which registered the greatest declines in rental prices had a coastline. Teruel was the province to register the greatest year-on-year decline in May, of -7.4%, followed by: Zamora (-4%); Cáceres (-3.6%); Jaén (-2.8%) and Burgos (-2%).
In terms of prices, six of the ten provinces with the highest rental housing prices are on the coast. Barcelona and Guipuzcoa are the provinces with the highest rental prices, with 11.5 euros/m2 per month and 10.6 euros/m2 per month, respectively. In addition, rental prices in all the coastal areas increased year-on-year.
Among the ten provinces with the lowest rental prices, only one province has a coastline – Lugo, where the price stood at an average of 4.4 euros/m2 per month in May. Moreover, six of the ten provinces registered year-on-year price declines.
According to fotocasa’s data, some 40 Spanish municipalities registered increases in home rental prices above 10% and of these, 30 are on the coast. With regard to the regions in which these municipalities are located, Andalucía had the greatest number, with 12 municipalities, followed by Valencia (10), Catalonia (5), the Balearic Islands (2) and the Canary Islands (1).