Rentals in Spain Show Poor Yield Through Inaccurate House Price Figures

Jan. 17, 2011 - PRLog -- The economist has recently did an article on house price to rent ratios in the US, the UK and Spain. Their finding still show that Spanish property is overvalued, proven by poor price to value ratios compared to that of the other countries examined within the report. A First Property Choice spokesperson comment yesterday that these facts were so poor as a direct result of distorted data produced by the Ministry of Housing in Spain.

"There seems to be no correlation with real house prices and transaction values and the supposed real data released." Argued Lea Graham, marketer and analyst for First Property Choice."Most people who work within the industry here in Spain see that these figures are little more than fiction, " She continues, "If actual closing priced were used, these figures the Economist has come up with would make quite different reading." She concludes, "if there was greater transparency within the property market, prospective buyers and renters would see less of a dis-parity between sale and rental prices."

There has been a considerable increase in the number of people seeking long term rentals within the Marbella area and First Property Choice, along with other agents see this as a symptom of poor information for buyers. Growing uncertainty in the Spanish economy doesn´t have as much of an impact on property buyers as the opaque figures at the disposal of potential buyers.

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