BENIDORM IS the priciest place to rent accommodation in the Valencia Region.
The average costof renting property in the city is €7.09 per square metre. Alzira, Valencia, was the cheapest with an average price of €3.99 per square metre.
As a whole home rental preices have fallen 0.7 per cent in the Valencia Region in the third quarter of the year.
The average price is now €5.19 per square metre; 25.8 per cent less than the national average which in September was €6.99 per square metre. According to a report by the real estate portal www.fotocasa.es and the IESE Business School, the Valencia Community is ranked the fourth cheapest place to rent property behind Murcia, Castilla La Mancha and Extremadura. In contrast, the Basque Country, Catalonia and Madrid are the most expensive.
Valencia reported a record high in June 2007 when it reached a value of €8.11 per square metre and has since accumulated a fall of 36 per cent. Alicante and Castellón saw the largest fall this quarter with a decline of 1.1 per cent. Rental prices also fell in Denia and El Campello.