He34.5 percent of the homes in the Canary Islands are rented,which represents the highest percentage of the country, according to the Housing and Land Observatory published Thursday by the Ministry of Development. In addition, the report - which does not have the price of housing for rent in the Islands-reveals that the Canary Islands is one of the autonomous communities where it is more expensive to rent a home,next to Madrid,Catalonia, Basque Country and Balearic Islands.
According to it, since the beginning of the year there are more than 700,000 new homes for rent or transfer in Spain, making the rental weight reach 23.9 percent, which exceeds that of 2011 by more than 3.5 points, when It stood at 20.4 percent.
By communities and after the Canary Islands, with the highest percentage of rental housing are Balearic Islands (34.1%),Catalonia(30.4%) and Madrid (26.6%), in addition to the autonomous city of Ceuta (27.6%), including rent at market price, at a lower market price and free transfer.
By age and in Spain as a whole, Fomento emphasizes that 39.3 percent of people aged 30 to 44 who have emancipated reside in rent (25.7% in 2007), while among young people under 30 years this percentage rises to 70.4 percent, well above 41.9 percent in 2007.
According to Fomento, the analysis of leased real estate (included in IRPF 2017 statements) also demonstrates that the rent takes place to a greater extent in older buildings, mostly of collective housing, and in smaller dwellings.
The Ministry has insisted this Thursday on the need to advance in the existence of an official source of information, such as the state system of reference indices of the price of the rental of housing provided in Royal Decree-Law 7/2019, of March 1 , of urgent measures regarding housing and rent.
THE RENTAL OF A HOUSE IN SPAIN AVERAGE COST 674 EUROS PER MONTH
The rental price in Spain reaches an average of 674 euros per month, although there are large differences by province, ranging from 819 euros in Madrid and 769 euros in Barcelona to 336 euros per month in Lugo.
This report includes, for the first time, data on the bail deposits of the autonomous communities, that is, on the amount that the tenant pays as a deposit for renting an apartment and that is equivalent to one month's lease. According to Promotion, this allows us to offer an approximation to therentaverage of the rent and the average surface of the house.
The data collected by Fomento confirm that the rent is slightly cheaper than that usually reflected in the statistics of the real estate portals Fotocasa and Idealista.
Specifically, according to the data of regional bonds, the average price of a rental in Spain, for an apartment of almost 96 square meters, is 8.1 euros per square meter, compared to 8.3 euros of the average price of Fotocasa's offer and the 10.4 euros of Idealista.
According to the Observatory of Development, Madrid, Barcelona and Guipúzcoa are the most expensive provinces to rent a home, with an average cost of 819, 769 and 730 euros per month, respectively.
THERE IS NO CANARY PRICE DATA
The report collects data from ten autonomous communities - there are no price data for the Canary Islands - and the autonomous cities of Ceuta and Melilla. Promotion notes in this report that Madrid,Catalonia, País Vasco and Baleares are the autonomous communities where it is more expensive to rent a home, while Galicia and Castilla y León are the cheapest.
If the data is analyzed based on the average cost of rent per square meter, the most expensive province is Guipúzcoa, with 11 euros per square meter), followed by Madrid (10.7 euros), Barcelona (9.6 euros) and Vizcaya (8.7 euros).
On the contrary, the lowest rental prices per square meter are in Lugo (3.5 euros on average), Teruel (4 euros per square meter, Ourense (4.1 euros), León (4.2 euros) and Soria and Castellón (4.3 euros per square meter).
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