Housing problems in Canary Islands they become more acute. Prices continue to rise in a market that seems to have no control and that puts a sector of Canarian society in more difficulties that does not make ends meet due to job insecurity.
The price of housing for rent in the Canary Islands has risen 2% during the last quarterleaving the monthly rent for each square meter at 12.8 euros, while year-on-year growth is 14.5% and represents the maximum price in the historical series, according to the latest idealista price report.
The price rises quarterly by 3.2% in the province of Santa Cruz de Tenerife up to 12.2 euros/m2which is also a historical maximum, and 1.5% in Las Palmas to 13.2 euros/m2.
In the province of Las Palmas The price grew in the capital by 0.5% (up to 11.6 euros/m2). The biggest increase in the last quarter has occurred in Mogan (8.5%), while the highest incomes can be found in San Bartolome de Tirajana (18.5 euros/m2 per month).
In the province of Santa Cruz de Tenerife, the price has grown by 10.2% in the capital in the third quarter of the year, up to 10.9 euros/m2. The most exclusive market of those analyzed by idealista in the province is Cross port (14.5 euros/m2 per month).
The price of housing rentals in Spain increased by 0.3% during the last 3 months, but all major markets recorded strong price increases. At the end of September 2023, renting a home in our country had a cost of 11.8 euros per square meter.
In the city of Barcelona prices have increased by 6.6% in the last 3 months. The square meter has reached 20 euros/m2, a figure that marks a new historical maximum in the city. In an interannual rate, prices are 18.1% more expensive in the city than a year ago.
Madrid ends the third quarter with an increase in housing rental prices of 5.1% quarterly, which places the price per square meter in the capital at 17.7 euros, which also places the city at historical highs. In interannual rate the growth has been 10.7%.
Rental prices rose 4.2% in Valencia during the last 3 months. This increase has left the price per square meter at 12.4 euros, the new historical maximum in the city. The increase registered in year-on-year terms reaches 22.1%.
A total of 34 Spanish capitals have higher prices than before the Housing Law was approved. The largest quarterly increases in rental prices have occurred in Santa Cruz de Tenerife, where they have grown by 10.2%, while in San Sebastián and Lugo the increases have reached 6.8%.
These increases have caused new record prices to be reached in 4 out of every 10 Spanish capitals, up to a total of 21 cities. These are Ávila, Barcelona, Burgos, Castellón de la Plana, Granada, Guadalajara, Logroño, Lugo, Madrid, Murcia, Oviedo, Pamplona, Pontevedra, Santa Cruz de Tenerife, Seville, Soria, Tarragona, Valencia. Valladolid, Vitoria and Zaragoza.
In these 3 months a total of 16 capitals have reduced their prices, with Ceuta being where this decrease has been most noticeable, 6.4%. Below we find the decreases in Teruel (-3.4%), Huelva (-2.7%), Zamora (-2.4%), Jaén (-1.7%) and Salamanca (-0.9%). .
Barcelona is the most expensive capital to rent a home, with 20 euros/m2, followed by Madrid (17.7 euros/m2) and San Sebastián (16.9 euros/m2). In fourth place is Palma (14.6 euros/m2) and in fifth place is Bilbao (13.2 euros/m2). At the bottom of the table we find Zamora (6.1 euros/m2), followed by Cáceres and Ciudad Real (6.2 euros/m2 in both cases).
