THE cost of renting a home in the Balearics last month rose by 0.42 percent in comparison with prices in April 2009, real estate agency watchdog, “” reported yesterday.

The increase in the Islands which rose to an average rental of 8.37 euros per square metre, said the watchdog puts the region as the fourth costliest in Spain. The top three are the Basque Country where renting costs 10.71 euros per square metre, Madrid (10.13 per sq.m.) and Catalonia (9.36 per sq.m.)
However, through a month-on-month analysis, “” revealed that property rental in April this year in the Balearics was 3.12 percent less than it had been in March. This, said the watchdog, was the third highest month-on-month downturn in the country after the regions of Navarre and Galicia, where property rentals fell from March to April by 8.73 and 5.13 percent respectively.

Juanra Doral, Director of “” said yesterday that looking at both property sale and rental trends for April and for the year to date, prices are remaining “quite stable” but all is subject to people's ability to see their way out of the current economic crisis.


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