Rental property in Spain 'falling in price'

The cost of renting property in Spain has fallen considerably over the last 12 months, according to an expert.

New figures released by Barcelona City Hall show that accommodation in the area is 20 per cent less expensive to rent than it was a year ago, Property Abroad reports.

Les Calvert, director of the portal, said this may persuade people to move to property in Spain and take advantage of the bargain discounts currently on offer.

In addition, he stated that the overall cost per sq m also dropped by eight per cent during this period, with areas such as the Costa Brava showing similar reductions.

"Those considering buying property on the Costa Brava could find that now is the ideal time to make a purchase," Mr Calvert explained.

In related news, Simon Jones, a market analyst at International Hot Property, recently said that property in Spain offers "excellent opportunities" for buyers looking to generate capital while living in a place in the sun.