同样，购房者在售租比超过平常水平时，倾向于为房产支付过高价格。
Similarly, homebuyers are likely to be overpaying for property when the price-to-rents ratio is higher than normal.
这可能能够解释租金收益降低，以及相较历史水平更高的合理售租比。
These might justify smaller rental yields and thus a higher fair-value price-to-rents ratio than suggested by history.
尽管存在这些不足，售租比测量方案也是检测房产市场膨胀程度的有效工具。
In spite of these blemishes, the price-to-rents gauge is a useful check on how puffed-up property markets are.
这样就更好理解为什么西班牙售租比随时间推移呈现上行态势；而在英国，比率则围绕长期平均水平波动。
That would help explain why Spain's price-to-rents ratio has trended upwards over time, in contrast with Britain's, which has fluctuated more obviously around its long-run average.
如果售租比从1990年起向后计算，西班牙房市估价仅高出24%，而非表格中所示55%（基于1975年向后数据）。
If the average price-to-rents ratio is calculated from 1990 onwards, Spain’s market is overvalued by 24%, rather than the 55% shown in the table (based on figures from 1975).
如果售租比从1990年起向后计算，西班牙房市估价仅高出24%，而非表格中所示55%（基于1975年向后数据）。
If the average price-to-rents ratio is calculated from 1990 onwards, Spain’s market is overvalued by 24%, rather than the 55% shown in the table (based on figures from 1975).
应用推荐