Housing issues are prevalent throughout our country, although some areas are more affected than others. In the Tenerife island, it has become a nightmare to find affordable rentals, forcing people to explore less conventional habitation options such as caravans to have a roof over their heads.
According to a study by the real estate portal Idealista, two municipalities in Tenerife are among the top 20 localities with the highest demand for rental housing. These are the capital, Santa Cruz, and Arona, located in the south of the island.
The outskirts of major cities, with Getafe (Madrid) and L’Hospitalet de Llobregat (Barcelona) at the forefront, concentrate the highest demand for rental housing, as indicated by a study by the real estate portal Idealista.
The study, which confirms that rental prices continue to break records amid a shortage of supply and an increase in demand, also reveals that 53% of the most sought-after municipalities for renting offer rents below 900 Euros.
Based on data from the first quarter of 2024, Idealista analyses over a hundred municipalities with sufficient housing supply in the market – with more than 1,400 listings for sale and rent during the analysed period.
Among the top 20 locations, leading the list are Getafe, Vitoria, and L’Hospitalet, followed by seven provincial capitals, major cities, and island capitals, seven municipalities in the metropolitan area of Barcelona, three in the outskirts of Madrid, and some towns on the outskirts of Valencia, Santa Cruz de Tenerife, and Palma de Mallorca.
Following the aforementioned locations are Terrassa, Manresa, Badalona, Mataró, Sabadell, and Vilanova i la Geltrú in Barcelona; Móstoles and Alcalá de Henares in Madrid; along with the two major residential markets of both cities, Zaragoza, Palma, Santa Cruz de Tenerife, and Las Palmas de Gran Canaria.
Torrent, near Valencia; Arona, in Tenerife and Manacor in Mallorca, complete this ‘top 20’ of the most sought-after municipalities for renting homes.
Further down the list are several provincial capitals like Málaga (26), Valencia (27), or Seville (41), alongside locations known for being major tourist hubs such as Salou (Tarragona); Fuengirola or Torremolinos in Málaga; Gandía (Valencia); and Torrevieja (Alicante).
In terms of prices, four of the top 10 most sought-after towns have total average rents below 900 Euros per month: Alcalá de Henares (894 Euros per month), Terrassa (850 Euros), Manresa (696 Euros), and Torrent (891 Euros).
The four towns with the highest demand exceed that figure: Getafe (911 Euros per month), Vitoria (916 Euros), L’Hospitalet de Llobregat (1,042 Euros), and Móstoles (939 Euros), as well as Badalona (1,228 Euros) and Mataró (924 Euros).
Up to the ‘top 20’, two provincial capitals register total average rents below 900 Euros per month: Santa Cruz de Tenerife (887 Euros per month) and Zaragoza (724 Euros), while capitals like Palma (1,681 Euros), Barcelona (1,669 Euros), Madrid (1,565 Euros), or Las Palmas de Gran Canaria (972 Euros) surpass it, along with Sabadell (980 Euros) and Mataró (924 Euros).
The towns with the highest rental demand and the most affordable prices are Ciudad Real (513 Euros per month), Palencia (534 Euros), Ourense, and the Almería town of de Vera (tied at 592 Euros).
Another 14 sought-after towns still offer prices ranging between 600 and 700 Euros on average for monthly rent, such as Manresa (696 Euros), Castellón (686 Euros), Burgos (650 Euros), or Algeciras (602 Euros).
Coastal towns with high-end rental properties have the highest rents, with Benahavís (Málaga) (3,442 Euros per month) standing out above all, followed by Marbella (2,987 Euros), Calvià (Mallorca) (2,818 Euros), and Sotogrande (Cádiz) (2,621 Euros).
I have to ask where the prices come from? In San Miguel de Abona in Tenerife the cheapest property is a studio for 950.00 euros a month. The average price for a 2 bedroom apartment is 1200 +. On a complex where 2 beds were going for around 600.00 3 years ago they are now advertising for 1600.00 euros. How can anyone who lives and works on this island afford these prices. The prices you speak of are just about affordable but I do not find anything for this on idealista, everything advertised is much higher!