Rental prices increase

Rental PropertyAccording to figures released by the National Statistics Institute (INE) the average price of renting a property in Spain increased by 0.9% during November, compared to the same month in 2010.

The increase in rental prices remains two points below the overall CPI which was at 2.9% by month end, reported El Mundo. Month-on-month, rental costs registered a variation of one tenth, which had risen this year by 0.8%.

In Navarre, the only region to register a decrease in rental costs, the average fell by 0.4%. The largest increase was in the Basque Country which registered an increase of 1.6%, followed by a 1.3% increase in Catalonia. An increase of 1.1% was registered in both Asturias and Galicia, followed closely by 1% increases in Andalusia, Cantabria, Castilla-La Mancha and Castilla y Leon

Surprisingly the costs in Madrid only increased by a mere 0.3%, while Murcia and La Rioja saw an even smaller increase of only 0.1%.