Cost of renting a home rises 2pc above inflation

16th November 2006, Comments 0 comments

16 November 2006, MADRID — The price of renting a home in Spain rose 4.3 percent over the past 12 months – nearly 2 percent above inflation.

16 November 2006

MADRID — The price of renting a home in Spain rose 4.3 percent over the past 12 months – nearly 2 percent above inflation.

Figures released by the National Statistics Institute (INE) on Thursday revealed the price of renting went up over the past year but inflation stood at 2.5 percent since October last year.

With the price of buying homes out of many people's reach, renting is increasingly a more popular option.

The costs of maintaining a home rose 5.1 percent in the case of rental properties over the past 12 months, said the INE.

This includes the cost of restoring walls, floors, painting, plumbing and other household costs.

The cost of home insurance in general went up 3.9 percent since October 2005, said analysts.

[Copyright EFE with Expatica]

Subject: Spanish news

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