Balearics fall in the price to rent the biggest in Spain

Nationally, the year-on-year decrease was 5.6% to an average of 10.40 euros per square metre. Compared with March there was 0.5% decrease. There have now been three consecutive months with year-on-year decreases - February 1.7%; March 3.6%; and now April 5.6%.

The 13.2% drop in the Balearics was the biggest in the country and was followed by Madrid (10.7%) and Catalonia (8.9%). Eight regions registered decreases in April, the largest percentage increases having been in La Rioja (nine per cent) and Asturias (7.3%).

Comparing March and April, the price to rent fell most in Andalusia, Madrid and Navarre (all down by 0.7%), while Murcia with 1.6% and Cantabria (1.1%) registered the largest increases.

The most expensive regions in April were Madrid and Catalonia with 13.80 euros per square metre. The Balearics were fourth (11.33 euros) behind the Basque Country with 13.10 euros.

Fotocasa observes that the market is moving at different speeds and that there have been significant year-on-year falls for three consecutive months in the Balearics, Barcelona and Madrid, each of which is historically associated with high prices. The greatest falls for the past six years have been in provincial capitals, a trend that Fotocasa hopes will continue as normality returns to Spain.