Housing rental prices decreased in July

RENTING a property is now cheaper than in May.

Housing rental prices dropped by 0.8 per cent in July 2014, as recently stated by the Spanish National Statistics Institute. The same decline was witnessed in June 2014.

The sharpest decreases were witnessed in Navarra (-2.3 per cent), Madrid (-1.8 percent), Murcia (-1.8 per cent), La Rioja (-1.6 per cent), Valencia and Extremadura (-1.2 per cent), Andalucia (-1 per cent), Castilla La Mancha and the Canary Islands (-0.9 per cent).

On the other hand, rental prices in the Basque Country dropped at the national average rate (-0.8 per cent), while Cantabria and Castilla y Leon (-0.5 per cent), the Balearic Islands (-0.3 per cent), Aragon, Galicia and Ceuta (-0.2 per cent) were below the national average. According to Spanish newspaper El Mundo, the only increases were registered in Melilla (+0.5 per cent), Asturias (+0.1 per cent) and Catalonia (+0.1 per cent).