Average price of rents falls

At a national level, during the summer months, rents fell by 1.79 percent, a greater rate of decline than was registered during the same period last year. In August alone, across the country as a whole, the cost of renting rose slightly by 0.27 percent in comparison with levels in July but rent figures have in fact gone down by 8.42 percent over the course of a year. By contrast, in the Balearics during August, the cost of renting a property fell by 1.4 percent. Juanra Doral, Director for “facilisimo.com” said yesterday that rent figures are intricately bound up with house sales, so it is not likely that the cost of renting a property is going to go down much more in the next few months.