Rental costs increased in April

According to figures from the National Statistics Institute, the cost of renting a property in Spain increased by 0.7% in April, compared to the same month in 2011. However, there was no change compared to the previous month.

The increase was 1.4 points below the overall CPI which stood at 2.1% in April.

There were only two regions where rental prices decreased. They were Murcia and La Rioja where rental costs decreased by 1.2% and 0.3% respectively.

The region that saw the greatest increase was Catalonia where an increase of 1.4% was recorded. The Basque Country and Asturias followed, both recording an increase of 1.2%.

Andalucia saw an increase of 0.8% while Melilla and Ceuta (Spanish territories in North Africa) both registered a 0.7% increase. Madrid saw a small increase in rental costs of 0.2%.

By province Alicante saw a fall in rental costs with a -1.1% change. The largest increase by province was seen in Palencia with 1.7%, while León, Granada and Barcelona all registered an increase of 1.6%.