Spain's Rent Update Index Hits Record 2.54% as Inflation Confirmed at 4.9%
Tenants with rental contracts up for their annual review will see increases of at most 2.54%, the value of the Housing Rental Reference Index (IRAV) published by the National Statistics Institute on October 14. The index rose seven hundredths in September and, at 2.54%, set its highest value since the series began; it has now spent 16 consecutive months above 2%.
Since October, under the housing royal decree-law, the IRAV is the ceiling for annual updates of all housing leases in Spain. The institute also confirmed September's inflation: consumer prices rose 4.9% year-on-year, six tenths more than in August.
The gap between the two indices matters directly to household budgets: rent reviews are capped by the lower IRAV, while the general cost of living rises almost twice as fast.
Housing costs have been the central political fight of the autumn: the government's housing decree-laws triggered the snap election, and rent regulation will be one of the main battlegrounds of the campaign toward November 29. (Source: National Statistics Institute (INE), Spain)
Source: National Statistics Institute (INE), Spain
Published by GSM · USA (original Chinese edition)
Photo: 图：西班牙公共租赁住房交付（资料图）。Wikimedia Commons 开放授权。 / Photo: Public rental housing handover in Spain (file photo). Wikimedia Commons, open license.
