Rental house price raise up to 10.5% year-on-year in May

Rental house price raise up to 10.5% year-on-year in May

As happened in April, the most remarkable fact in May is the year-on-year variation reached - 10.5% - and this is the highest year-on-year variation ever recorded in the last 10 years of the Real Estate Index fotocasa. All elements are, therefore, facing the highest year-on-year price increase ever recorded until this date.

«Fotocasa data show that the rental market continues to register high levels of tension regarding prices, which are more visible in Cataluña and Madrid, and in areas with high tourism demand, like Islas Baleares and Canarias. This explains why the distance to the maximum values recorded before the crisis is reducing so fast. In May 2016, to rent a house in Spain was 30% cheaper than in 2007, and today that percentage has been reduced to 19,6%, as a consequence of the high demand happening in this market», explains Beatriz Toribio, responsible for studies at fotocasa.

In May 2017 the rental price increased in all autonomous regions, at a monthly level, and in 16 in a YoY level.

Since the highest price reached in May 2007 (€10.12/m2 per month), the house price has accumulated a fall of -19.6%.

In May, all the autonomous regions registered increases in the rental prices, with growths from 2.8% in Baleares to 0.1% in Galicia.

Iberian Property logo Iberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!