Tenerife Weekly
  • Home
  • About
  • El Diario
  • Diario de Avisos
  • El Dia
  • Europa Press
  • La Laguna
  • El Digital Sur
  • Atlantico
  • Press Releases
  • Essentials
  • Blog
  • Contact
No Result
View All Result
  • Home
  • About
  • El Diario
  • Diario de Avisos
  • El Dia
  • Europa Press
  • La Laguna
  • El Digital Sur
  • Atlantico
  • Press Releases
  • Essentials
  • Blog
  • Contact
No Result
View All Result
Tenerife Weekly
No Result
View All Result
Home Europa Press

Rental Prices in the Canary Islands Surge by 137% over the Past Decade, Reports Fotocasa

May 21, 2024
in Europa Press
Reading Time: 2 mins read
0
Rental Prices in the Canary Islands Surge by 137% over the Past Decade, Reports Fotocasa
3
SHARES
Share on FacebookShare on Twitter



SANTA CRUZ DE TENERIFE/MADRID, 21 May (EUROPA PRESS) –

The average rental price in the Canary Islands has seen a remarkable increase of 137% in the last ten years, rising from 464 euros per month in April 2014 to 1,101 euros in April 2024, as per the ‘Cumulative Housing Price Variation in Spain in 2024’ study by Fotocasa.

The Canary Islands rank third among autonomous communities with the highest percentage increase, trailing only behind the Balearic Islands (158%) and the Valencian Community (139%).

Nationally, rental prices have surged by 78% in Spain over the past decade, bringing the average monthly cost for an 80-square-meter residence to 984 euros, compared to 553 euros in 2014.

Consequently, the price per square meter has jumped from an average of 6.91 euros per month in April 2014 to 12.30 euros per month in April 2024.

María Matos, Director of Studies and spokesperson for Fotocasa, highlighted this as the “most significant surge in rental prices in recent years”, with some communities experiencing a housing price escalation of up to 150% in the last decade, posing “significant challenges in accessing housing.”

“The increasing demand against a backdrop of limited supply has resulted in escalating prices, surpassing the levels seen during the real estate bubble of 2007 by 33%,” she underscored.

BALEARIC ISLANDS SEE A 158% INCREASE IN PRICES

Rental prices in the Balearic Islands have soared from 7.03 euros per square meter per month in April 2014 to 18.14 euros per square meter a decade later, reflecting a 158% surge.

This translates to an increase from an average of 562 euros per month for an 80-square-meter dwelling to the current 1,451 euros per month for a residence of similar size in the Balearic Islands.

Conversely, in Castilla la Mancha, the price per square meter has only risen by 46% since 2014, reaching 6.99 euros. Therefore, individuals in La Mancha paid around 382 euros per month for an 80-square-meter rental in 2014, compared to 559 euros per month in 2024.

ESTEPONA: THE CITY WITH THE SHARPEST RENTAL PRICE INCREASE

According to the Fotocasa study, Estepona (Málaga) is the sole city in Spain to witness a cumulative surge of 190% in rental prices by April 2024 compared to a decade prior.

Ten years ago, the rental cost for an 80-square-meter property in Estepona stood at 446 euros per month, which has now escalated to 1,297 euros per month in 2024.

Following Estepona, cities with notable cumulative rent surges in the last ten years include Gandía (+185%), Mijas (+167%), Benalmádena (+159%), Palma de Mallorca (+155%), Valencia capital (+150%), Torremolinos (+138%), Benidorm (+138%), El Campello (+137%), Calvià (+137%), Vélez-Málaga (+135%), Sanlúcar de Barrameda (+132%), and the capital of Santa Cruz de Tenerife (+132%).

Related Posts

Seized a yacht with cocaine about 50 miles south of the Canaries, recovering 25 kilograms of the drug.
Europa Press

Seized a yacht with cocaine about 50 miles south of the Canaries, recovering 25 kilograms of the drug.

July 7, 2025
Clavijo Brands it “Indecent” for Regions Not to Aid Young Migrants; Warns of Potential Prosecutor Involvement
Europa Press

Clavijo Brands it “Indecent” for Regions Not to Aid Young Migrants; Warns of Potential Prosecutor Involvement

June 26, 2025
Torres Shifts Responsibility for Material Purchases to SCS and Assures No Recordings of His Wrongdoing Will Emerge
Europa Press

Torres Shifts Responsibility for Material Purchases to SCS and Assures No Recordings of His Wrongdoing Will Emerge

June 23, 2025
No Result
View All Result

Click Image to Join Community

Tenerife Forum Community

Previous News

Tenerife South Airport’s Taxi Queue: An Unwelcome Experience for Travellers

Tenerife South Airport’s Taxi Queue: An Unwelcome Experience for Travellers

8 months ago
Meeting to Bring La Vuelta Back

Meeting to Bring La Vuelta Back

1 year ago
Bermúdez proposes Caco Senante for the title of Favorite Son of Santa Cruz de Tenerife

Bermúdez proposes Caco Senante for the title of Favorite Son of Santa Cruz de Tenerife

2 years ago
The PSOE demands the unblocking of the Youth Council after two years paralyzed

The PSOE demands the unblocking of the Youth Council after two years paralyzed

3 years ago
Taganana plays the rebate and moves to 1797

Taganana plays the rebate and moves to 1797

2 years ago
CC assumes the Mayor’s Office of Güímar during the mandate with the support of PSOE and USP

CC assumes the Mayor’s Office of Güímar during the mandate with the support of PSOE and USP

2 years ago
No Result
View All Result

News Highlights

The Magician’s Dance Brings Together 12,000 People Around 700 Tables

A Estate, a Saint, and a Pilgrimage (Part III). By Julio Torres Santos

No Water Given to Victims of Domestic Violence at the Courts of Santa Cruz de Tenerife

A union denounces the alteration of customs officers’ shifts as malpractice.

The Convent of Santo Domingo Opens Its Doors to the ‘Spaces of the Canaries’

The Mediator Judge will send the solar panel case to the Court for a Jury.

Trending News

Tram workers report that there are still traces of silica sand on the tracks and in the depots.
Atlantico

Tram workers report that there are still traces of silica sand on the tracks and in the depots.

by Admin
July 12, 2025
0

Despite the announcement made last week by the president of Tenerife, Rosa Dávila, regarding the complete elimination...

Canaries loses its traditional pubs

Canaries loses its traditional pubs

July 12, 2025
The Cabildo to Provide Work Placements for 450 ULL Students in the 2025-2026 Academic Year

The Cabildo to Provide Work Placements for 450 ULL Students in the 2025-2026 Academic Year

July 12, 2025
The Magician’s Dance Brings Together 12,000 People Around 700 Tables

The Magician’s Dance Brings Together 12,000 People Around 700 Tables

July 12, 2025
A Estate, a Saint, and a Pilgrimage (Part III). By Julio Torres Santos

A Estate, a Saint, and a Pilgrimage (Part III). By Julio Torres Santos

July 12, 2025
Tenerife Weekly

© 2025 Tenerife Weekly

Navigate Site

  • Tenerife Forum
  • Tenerife Travel Shop
  • Ask Tenerife
  • Guide
  • Adobe
  • Linkedin
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Home
  • About
  • El Diario
  • Diario de Avisos
  • El Dia
  • Europa Press
  • La Laguna
  • El Digital Sur
  • Atlantico
  • Press Releases
  • Essentials
  • Blog
  • Contact

© 2025 Tenerife Weekly