– EUROPA PRESS
LAS PALMAS DE GRAN CANARIA 15 Jun. (EUROPA PRESS) –
The average rental price for housing in the Canary Islands has increased by 8% year-on-year in May 2026, now standing at €16.28 per square metre per month.
According to data from the ‘Fotocasa Property Index’, this rise confirms a positive trend in the archipelago, which has now seen 55 consecutive months of increases, equivalent to over four and a half years of continuous growth in the rental market of the islands.
Regional Comparison
In the national context, the Canary Islands rank as the fifth region with the highest rental prices, following Madrid (€21.96 per square metre per month), Catalonia (€19.30), the Balearic Islands (€19.10), and the Basque Country (€17.55).
Provincial Insights
By province, Santa Cruz de Tenerife has recorded a year-on-year increase of 9% in May 2026, with an average price of €16.17 per square metre per month. Las Palmas has seen a growth of 7.3%, reaching an average price of €16.42 per square metre per month.
Municipal Trends
At the municipal level, all nine Canary Island cities have reported year-on-year increases. Telde (Gran Canaria) has led the rises with an increase of 21.8%, followed by Candelaria (Tenerife) at 14.9%, and Puerto de la Cruz (Tenerife) at 14.5%.
Price Extremes
In terms of absolute prices, San Bartolomé de Tirajana (Gran Canaria) has emerged as the most expensive municipality at €21.69 per square metre per month, while La Orotava (Tenerife) has recorded the lowest price in the islands, at €6.71 per square metre per month.
Expert Commentary
María Matos, Director of Studies and spokesperson for Fotocasa, explained that rental prices in the Canary Islands continue to grow steadily. Although these figures are far from the previous double-digit increases, demand remains intense.
Matos noted that the pace of price rises has slackened somewhat, as tenants’ purchasing power is “at its limit.” However, she clarified that this slowdown does not indicate a decrease in prices, as evidenced by the 2.3% monthly uptick recorded in May.
