Spanish rental prices fall slightly

AVERAGE rental prices for homes in Spain ended September at €7.02 per square metre, according to data from Fotocasa. Over the third quarter of this year, prices fell by 0.7 per cent, the data revealed, following two consecutive increases in the first and second quarters of 2015.

Prices went up in 11 Spanish regions with Madrid in the lead with a 4 per cent increase followed by Cataluña with 2.5 per cent and Extremadura with 2.4 per cent. Meanwhile they fell in six regions, led by the Balearic Islands      (-0.8 per cent), Castilla La Mancha (-0.6 per cent) and Cantabria (-0.6 per cent).

The regions where renting a flat works out the most expensive were found to be the Basque Country (€10.23 per square metre per month), followed by Madrid (€9.81) and Cataluña (€9.48). 

At the other end of the scale Castilla La Mancha had the cheapest flat rentals with an average price of €4.64 per square metre per month, followed by Extremadura (€4.66 per square metre per    month) and Murcia (€5.08 per square metre per month).