The housing market continues to present a struggle for landlords and tenants. Structural elements, unregulated inflation in holiday homes, and legal uncertainties for property owners have created a volatile situation.
A case that exemplifies this situation is that of Luis Javier, who owns a residence in Las Chafiras, Tenerife. His tenant, who has been renting the property for three years, has accrued a debt of 16,000 euros by not paying the monthly rent of 430 euros, which includes utility expenses. After pursuing legal action and winning an eviction order in court, Luis has been unable to resolve the issue, despite incurring 6,000 euros in legal fees, as the tenant invoked pregnancy to stall the eviction process.
This case underscores the complexities in the real estate market, where ineffective measures and legal hurdles impede resolutions in landlord-tenant conflicts, placing many in dire situations.
Rent prices increased by 2.9% monthly nationwide, with a 5.9% year-on-year surge, reaching 10.79 euros per square meter based on November’s data provided by the fotocasa.es website, marking the ninth consecutive rise this year.
The Canary Islands rank third in the national rental price hike, with a 15.4% surge, following the Valencian Community (16.6%) and the Balearic Islands (16.5%). Conversely, Aragón (3.1%), La Rioja (2.9%), and Castilla-La Mancha (1.0%) experienced the smallest increases in rent prices.
The islands have the unenviable distinction of having one of the highest rental prices per square meter per month in Spain, at 11.16 euros, surpassed only by Madrid and Catalonia, with 15.36 and 14.69 euros, respectively, as well as the Basque Country and the Balearic Islands, both at 13.95 euros. The cheapest square meter is found in Castilla-La Mancha, at 5.92 euros.
Regional Comparison
The rental price has risen by 2% between the two Canary provinces. Las Palmas experienced a higher increase of 15.3% compared to Santa Cruz de Tenerife with 13.3%. At the top of this list are Alicante and Málaga, with a surge of 25.7% and 21.8%, respectively.
In terms of price per square meter per month, Las Palmas comes in at 11.65 euros, whereas Santa Cruz de Tenerife is significantly cheaper at 10.38 euros per square meter. Barcelona ranks highest at €15.93/m2 per month, followed by Gipuzkoa at €15.89/m2 and Madrid at €15.36/m2.
Provincial Capitals Overview
According to the Fotocasa report, the provincial capitals with the highest rental prices per square meter per month are Barcelona (19.57 euros/m2), Donostia – San Sebastian (18 .32 euros/m2), Palma de Mallorca (13.74 euros/m2), Málaga (13.01 euros/m2), Las Palmas de Gran Canaria (12.19 euros/m2), Alicante/Alacant (11.10 euros/m2), Seville (11.01 euros/m2) and Santa Cruz de Tenerife (10.79 euros/m2).
