December 8, 2010 – 1:17 pm
October rental values up and down in Spain, Tenerife and Canary Isles
Average rental prices rose 1.1pc in October, according to data.Rents are going up at half the level of inflation, leaving landlords out of pocket in real terms
That was half the level of consumer price inflation, which was 2.3pc in October. As a result the real price of renting a home in Spain fell by an annualised 1.2pc in October.
Rental prices rose the most in the Balearics (+1.6pc), followed by Cantabria (+1.4pc) Galicia (+1.4pc), Andalucia and the Canary Islands (1.2pc). Prices rose the least in Murcia (+0.6pc), La Rioja (+0.5pc), Extremadura (+0.1pc) and Navarre (-0.3pc).
By Angela
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Posted in Economy, General, Holiday, Miscellaneous Articles, Property, Tenerife, Things to Do
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Tagged Balearics, Canary Islands, consumer, inflation, properties, rental, Spain, Tenerife|
September 3, 2010 – 4:11 pm
Rental income on the increase for landlords in Tenerife and the Canary Isles
Rents are rising and prices are falling, so yields are improving for landlords. Average rental prices rose by 1% in July compared to last year, show the latest figures from the National Institute of Statistics (INE). This is surprising given the glut of property for sale and rent on the market.
Over 6 months annualised rental prices have gone up by between 0.9% and 1.2% per month, whilst house prices have gone down between 4% and 5%, meaning that rental yields are improving. Some good news at least for beleaguered property investors.
But consumer price inflation has risen by 1.9% in the same period, so although yields are rising, rental income in real terms is actually falling.
Rents went up the most in the Balearics and Canary Isles (+1.5%), and down the most in Navarre (- 0.5%).
By Angela
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Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do
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Tagged Balearics, Canary Isles, income, INE, inflation, investors, landlords, prices, Property, Rents, sale, Tenerife|
