It may be something that just has to do with the day of the search. Or perhaps with the chosen portals. However, the reality is that the main real estate websites and applications in Spain recorded few real estate offers in the south of Tenerife on a rental basis yesterday. Between Candelaria and Santiago del Teide, a handful of 134 in Fotocasa. In Idealista there were a few more, 213.
The problem is not, however, so much in the number of homes available, that is, but in the price at which they can be obtained. The main banking entities recommend that the payment of rent does not represent a monthly percentage greater than 30% of the net salary. Taking this premise into account, the average salary of a neighbor should not be far from 3,000 euros per month.
The South, therefore, is no place to live. It is, rather, a paradise for vacation homes, which extends its domain from the tourist places par excellence to the mediocrities. If the search for rental housing is narrowed down to a maximum of 700 euros per month or less, then there is availability: four offers on Idealista and six results on Fotocasa. Except for one, all the others cost that: 700 euros per month. That is, the net salary should be around 2,100 euros net per month, at least.
One of the properties is located in Tamaimo. An 85 square meter apartment, two bedrooms, with elevator and garage. A bargain. In Puerto Santiago, for the aforementioned figure, there is another 44 square meters on the fifth exterior floor with an elevator. Water and electricity apart. In La Caleta de Güímar, a first floor of 62 square meters outside with an elevator is announced. Finally, in Las Galletas, 40 square meters in a second exterior, but without an elevator. For a little more, 750 euros, there are two more options in Granadilla de Abona and Arico.
The thing is, it wasn’t always like this. A study by the Indominio real estate portal records the evolution of prices between 2016 and December 2023. In that period, costs have doubled, or more. In Granadilla de Abona, for example, from six euros to 12.76 euros per square meter. In Arona, from 7.5 to the current 17.64 euros per square meter. Adeje, the first in the ranking, has gone from 8 euros to 18.30 euros per square meter.
Vilaflor, however, is the exception. It has remained at an average of 3.06 euros per square meter.
Living in Playa de las Américas exceeds 1,552 euros per month on average. | GIVES
Tent huts on the beach due to the lack of rental housing. | GIVES
Las Américas, Los Cristianos and Costa Adeje, more than 1,300 euros per month
Taking as a reference the market study of the Indominio website and, as measurements, those of a 70 square meter home, Playa de las Américas, Los Cristianos and Costa Adeje are the most expensive places to live, with an average of 1,552, 1,377 and 1,372 euros per month, respectively. These are tourist areas where high prices make sense.
However, the average 743 euros for an apartment of these characteristics in San Isidro, the 812 euros registered in the Valle San Lorenzo-Cabo Blanco-Buzanada area, the 1,047 in Las Galletas-Costa del Silencio, the 828 euros per month from El Fraile or the 837 euros from the Guargacho area of San Miguel de Abona. The Arona area of this nucleus, a little cheaper, reaches 725 euros per month.
In the last seven years prices have doubled, or more than that, the most significant growth has occurred in almost all municipalities in the South in the last year.
In Granadilla de Abona, between December 2022 and the same month of 2023, the average cost of a 70 square meter apartment has increased by 33.75%. In Arona, growth has slightly exceeded 31%, while in Adeje the growth was 25.34%. Thus, the average price is 893 euros, 1,234.8 euros and 1,281 euros per month.
Salaries, therefore, should be above 2,700 per month.
