Tuesday, 2 June 2009

Renting an apartment is 19% cheaper due to the decline of sales and more offers

The price of homes for sale continues to fall but shows signs of stabilisation in some communities. The current difficulty to sell apartments has caused that a great part of the stock is offered for rent with a loss of the rental prices of 19% in the area of Girona within the last half of the year. According to the last study of market prices of the Association of Promoters and Constructors Girona and Real Estate Agents, the development of homes for sale also shows a general decline, although in some towns like Blanes or Roses a stabilisation emerges. All this is related to a drop of demand due to the economic crisis. Regarding the rental prices of the two-bedroom apartments, the largest price drop was detected in Lloret with 14,9 %, whereas referring to homes with three bedrooms, Roses is the town with the most significant decline (19%).

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