Santa Cruz de Tenerife: One of the Regions Facing Highest Housing Rental Demand



The inaugural Rental Pressure Barometer, compiled by Rental Insurance and Rey Juan Carlos University, reveals that Santa Cruz de Tenerife is among the regions experiencing “high” rental pressure, scoring 104. This indicates that on average, each rental property receives 104 contacts within ten days of being listed.

The barometer signals a “highly concerning” scenario. In Spain overall, the average rental pressure score was 50 in the first quarter.

The majority of provinces fall within the normal pressure range, indicating a balanced supply-demand relationship across much of Spain. Specifically, 25 out of the 50 Spanish provinces and the two autonomous cities analysed are in this category according to the barometer.

Conversely, areas like Barcelona, the Balearic Islands, and Santa Cruz de Tenerife face a “very challenging” situation with severely limited supply struggling to meet demand, making it difficult for many families to find housing.

In contrast, places like Palencia, Badajoz, or Ourense witness much lower pressure, with only 8 contacts per rental property over 10 days, indicating minimal interest in rental properties. This reflects the highly diverse nature of the housing market in Spain.

The barometer, based on data from the past five years, classifies regions into five segments ranging from normal pressure zones (1-15) to high (45-60) and very high (60-75 and above) pressure categories.

Rising Trend

Additionally, the study by Seguro Rental and Rey Juan Carlos University notes a general trend of increasing pressure mainly due to “decreasing availability of properties and the uncertainties faced by property owners.”

Notable cases include the province of Malaga, where the pressure rose from 18 in 2019 to 67 by the end of 2023 (classified as very high pressure), although it has now eased to 31 in the first quarter of this year, indicating high pressure.

Regions like Santa Cruz de Tenerife and Valencia also experienced steep increases in pressure. Santa Cruz de Tenerife saw a surge from a pressure score of 35 in 2019 to 104 in the first quarter of this year. For Valencia, the pressure escalated from a normal level of 11 five years ago to a very high 63 in the first quarter of this year.

“The most densely populated regions and those heavily impacted by tourism are recording the most imbalanced pressures,” the study emphasises.