ARCHIVED - Covid failing to cause a crisis in the Murcian property rentals sector
Rental housing in the Region of Murcia has increased in price during the third quarter of 2020
The price of rental housing in the Region of Murcia grew by an average of 1.7% during the third quarter of the year, according to the latest Idealista price report.
With this rise, the price per square meter is now 6.70 euros and the year-on-year rise is 3.7%. The city of Murcia ended the third quarter of the year with a minimal fall of 0.6%, leaving the price at 7 euros / m2.
The highest increases were registered in Los Alcázares and La Manga, with an increase of 7.9%. In San Javier, on the contrary, the fall was 3.1%. The municipalities of Águilas (-2.8%) and Cartagena (-1.1%) also registered decreases in prices. The data show that the increase in supply in the main markets has led to an adjustment in rents.
Demand for rental property continues to be high, but the refusal of owners to agree long-term rentals at lower prices due to the pandemic that could recover medium and long term, are both making the market quite volatile at the moment according to the real estate portal.
This, in turn, is making any type of prediction, in the short and medium term, extremely difficult.
The price of rental housing has increased in Spain by 1.3% during the third quarter of 2020, averaging 11.5 euros per square meter per month. Based on an interannual rate, the price increase rises to 5.7%.