The Ministry of Transport, Mobility and Urban Agenda has published the 14 of July the State Rental Price Reference Index System with 11,2 million lease data for the past four years and will be updated annually with information from 1,7 million properties and 33.662 census sections. This tool does not empower municipalities and autonomous communities to limit income.
News about the new price index
Minister José Luis Ábalos has emphasized that “it is intended to offer for the first time a state statistical tool on prices, so that individuals and different agents have one more resource with which they can operate in this market ”, has affirmed.
This index will allow all administrations to have a precise and exact knowledge of the rental market in a timely manner and thus reduce the margin of error in real estate decision making, as reported by Ábalos. "It will be useful to apply fiscal or other policies that increase the supply of rental housing and, in this way, reduce prices ”. Anyway, this tool will not allow local and regional administrations to limit the price of rents.
The minister has made special mention of young people for being the big losers of the systemic crisis "Now, the covid-19 makes it necessary to meet the needs of the youngest, which is equivalent to strengthening the population segment on which the arduous task of guaranteeing an inclusive reconstruction in Spain will fall. ”, has affirmed.
For the elaboration of said index they have been compared 11,2 million leases from the last four years, has annual data based on information from 1,7 million properties, adding data referring to monthly rental income, square meter, monthly amount and area at all territorial levels.
David Lucas, Secretary General for Housing has detailed that the rental price index system disaggregates the data of 33.662 census sections of 9.842 census tracts, 7.593 municipalities, 46 provinces and 15 autonomous communities and Ceuta and Melilla. He pointed out that they are in contact with the Basque Country and Navarra to try to cross their data so that their data could be added soon.
The current rental price index is fed by the Tax Agency, the real estate cadastre, the National Statistics Institute (OTHER), The property registration, the Bank of Spain and the deposit deposits of the Autonomous Communities. along with the offer data of the real estate portals.
From this first analysis it follows that lThe main stressed areas are Madrid, Barcelona, Málaga, Valencia, Malaga or the Canary and Balearic Islands.