Rise in interest rates pushing up the cost of mortgages. | Josep Bagur Gomila
Natalia Bueno, president of the API association of real estate agents in the Balearics, is predicting that rents will rise because of the increasing cost of mortgages brought about by an upward movement in interest rates. "The cost of mortgages and the tightening of the requirements will reduce the number of people able to get obtain mortgages. Therefore, the demand for renting will rise."