Spain » Rental Market

The Rental Market of Spain is expanding because of the influx of the tourists in the country. The renting process is active all round the year, thanks to the wonderfully sunny weather of Spain allowing the tourists to enjoy the blue sky and sunny and mild climate at any time of the year. The rate of rental property in Spain is 13% which is the cheapest in the EU country where the average rate is approximately 40%.  More and more Spaniards are opting for buying their own homes rather than renting them. There has been another trend of renting homes and apartments at the beach resorts of Spain.

The Real Estate Prices has significantly increased in the recent years thus causing the prices of rental property to upsurge as well. A furnished apartment or home having 1-2 bedrooms almost cost €600/month. Another option, if you are looking for an inexpensive option is a shared bedroom. In the major cities it might cost around €300/month. All the transaction for utility billing could be carried out through the Spanish Banks.

All the specification regarding the rent of the property, the rental period and other minor details could be mutually agreed upon between the tenant and the land lord and then it could be added in the contract. The rent mentioned in the contract is generally renewed yearly. If the tenant wishes to leave the rental property before the period mentioned in the contract, he/she is liable to inform the landlord, one month in advance and in case the tenant fails to do so, a compensation fees will have to be paid.