Canary Islands Accommodation Prices Rise for Summer
Holidays in the Canary Islands are shaping up to be more expensive this summer, with rental prices for beachfront apartments in popular tourist areas of Gran Canaria and Tenerife now ranging from €775 to €1,100 per week, according to a report from Grupo Tecnitasa. While the increase is not as steep as in other parts of Spain, it marks a growing trend for travellers seeking accommodation.
In Gran Canaria, Playa del Inglés, a classic southern destination, sees weekly rents for a 35-square-metre apartment at around €800. Prices soar in other areas, with a 70-square-metre flat in Mogán priced at €1,100 and a 40-square-metre apartment in San Agustín also costing €1,100. Las Canteras in Las Palmas of Gran Canaria also features high prices, with holiday apartments of 40 square metres reaching about €850 per week.
Compared to last summer, Gran Canaria’s rental increases range from €40 to €85 per week, translating to a percentage rise between 5% and 8%. This moderate growth places pressure on holidaymakers looking for prime beachfront spots. Mogán and San Agustín are notably among the most expensive areas, while Playa del Inglés offers slightly better rates.
In Tenerife, prices remain significant but show more restrained increases. Costa Adeje sees weekly rentals for a 50-square-metre apartment priced at €1,000, while Los Cristianos sits around €950. Puerto de la Cruz, in the north, offers the lowest rental at €775 per week, illustrating the contrasting tourism dynamics between the southern and northern parts of the island. Here, rental increases are lower than 5%, with hikes of between €30 and €55 compared to last year.
The report highlights an interesting context for the Canary Islands. Despite ongoing price increases, tourist rental growth is slowing. In April, tourist arrivals dropped by 8.3% year-on-year, alongside a 6.8% decline in tourism spending, marking an unusual retreat since 2019 when excluding pandemic years. The influence of tourism on the Canary economy continues to be a significant factor affecting rental prices, especially in the most sought-after coastal regions.
Across mainland Spain, some areas are experiencing larger increases, particularly in provinces like Granada and Alicante, where rises exceed 8%. The Canary Islands fall into a second category along with Barcelona and the Balearic Islands, witnessing modest increases of 5% to 8%. Meanwhile, provinces such as Santa Cruz de Tenerife and Huelva have seen rises of less than 5%.
For holiday planners, the message is clear: staying near the beach in the Canary Islands is pricier this summer. Even as the rental market shows signs of slowing down, high demand for the archipelago’s prime tourist destinations keeps prices elevated, with some Gran Canaria areas hitting €1,100 per week and southern Tenerife close to €1,000.
