The price of rented accommodation in Spain rises

Renting a flat went up by 4.3% in May

The average price of renting a house or flat went up by 4.3% over the last year, three points less than the official rate of inflation which is now situated at 4.6%, according to statistics provided by the Spanish National Institute of Statistics (INE) for the month of May.

Over the course of the year rental prices have risen by 2.3% – with respect to April the increase was just 0.3%. By regions the highest price rises were in Cantabria where rental prices rose by a massive 6.5%, followed by Navarra where prices rose by a more moderate 2%.

As well as in Cantabria rental prices rose above the national average in Aragón (6.1%), Madrid (5.2%), Castilla-La Mancha (4.5%), the Balearic Islands and Murcia, with increases of 4.4% and 4.3% respectively. Prices rose below the national average in Cataluña (4.2%) followed closely by the Basque Country, Andalucia, the Canary Islands and the Comunidad Valenciana, all of which saw price rises of 3.

8% with regards to renting a house or flat. Other parts of Spain where prices rose less than the rate of inflation were Asturias (3.6%), Extremadura (3.4%), Galicia (3.2%) Castilla and León (2.8%) and the Rioja (2.4%).

According to official statistics provided by INE house insurance policies went up by 3.6% over the last year, which is just one point less than the official rate of inflation. Although there was no increase with regards to house insurance from April to May. Housing insurance policies taken out by customers over the last year covered amongst other things fires, floods, damage to electrical installations and being burgled.