The cost of renting a flat or house in Spain has fallen by 6 per cent in the past 12 months, the biggest drop since 2013. Prices however increased by 5.6 per cent in Granada and by 5.1 per cent in Almeria.
IN Barcelona, prices dropped by 17.8 per cent and in Madrid by 13.4 per cent.
At the end of May the average Spanish rental property cost €10.7 per square metre, according to the latest price report published by Idealista.
In the past year, 23 capital cities have seen a decrease in the price of rental properties. It is most pronounced in Barcelona and Madrid but prices in Palma have dropped by Palma by -11.6 per cent; Sevilla by -9.1 per cent; Malaga by -8.2 per cent; Valencia by -7.9 per cent; Alicante by -5.4 per cent; and Las Palmas de Gran Canaria by -5.3 per cent.
Prices however increased by 5.6 per cent in Granada and by 5.1 per cent in Almeria. Overall, prices dropped in Andalucia by 0.3 per cent.
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