Wednesday, July 22, 2009

A sign of things to come?

Spain Housing Collapse Cuts Rents in Worst Glut Since 1950s

July 22 (Bloomberg) -- Arancha Ibarra considers herself one of the lucky victims of Spain’s housing collapse. After struggling to find a buyer for her renovated two- bedroom apartment in Madrid for two years, Ibarra found a tenant for 750 euros ($1,066) a month, becoming one of the 1.5 million second-home owners thrust onto the country’s rental market.

Posted by flintster1994 @ 12:11 PM (783 views)
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3 thoughts on “A sign of things to come?

  • little professor says:

    Still waiting for a rent collapse over here – rental prices have only gone down about 5% since 2007.

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  • is that adjusted for inflation lp?

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  • @Little Professor

    But did rents ever go up all that much in the first place? In my last accomodation, there was no rent raise at all and before that I estimate just under 3% per annum rise average over the occupancy – and that’s nominal, not inflation adjusted.

    I prefer to compare rents with the interest only payments on comparable mortgages to get an idea of value for money – of course that ignores all the purchase and maintenance costs.

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