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The price of rent in the Canary Islands rose in April 2017 by 1.2% over 2016

Windsor Park Tenerife british style apartments to rent in Costa Adeje

The average price in this community is 6.94 € / m2 in April 2017. In both provinces the price increases. Five municipalities of the fifteen analyzed increase the price.


In the Canary Islands, the price of housing for rent has increased by 1.2% in April and stands at € 6.94 / m2 per month, according to the real estate index fotocasa. This figure is -13.6% below the national average, which in April is 8.04 € / m2 per month.

“The increase in the rental price is widespread throughout the country, but the strong increases we are seeing are mainly due to the increases in Catalonia and Madrid, which according to our report” X-ray of the housing market 2016-2017 “, concentrate 43% of all activity related to the demand of this market. They are followed by communities with great tourist attraction such as the Balearic Islands, the Canary Islands and the Valencian Community “, explains Beatriz Toribio, responsible for studies at fotocasa.

Thus, in the ranking of CC.AA with the highest rental prices in Spain, the Canary Islands occupies the seventh position. It is preceded by Catalonia, Madrid, the Basque Country, Navarre and Cantabria, where the average price is € 11.96 / m2 for Catalonia and € 7.06 / m2 per month for Cantabria. Canary Islands reached its historic high in the price of housing for rent in December 2006 with a value of € 7.64 / m2. Since then has accumulated a decline of -9.1%.

The two provinces recorded monthly price increases

The two provinces increase the price in April. The most pronounced monthly rise is Santa Cruz de Tenerife (1.5%) and Las Palmas (0.9%).

As for year-on-year variations, the price is also increasing in both provinces by 15.1% in Santa Cruz de Tenerife and 9.2% in Las Palmas. As for prices, Las Palmas is the province with the highest rental price, in particular € 7,08 / m2 per month and Santa Cruz de Tenerife in April at € 6.82 / m2 per month .

Price of rental housing by provinces and monthly variation

Province Monthly variation (%) April 2017
(€/m2)
Las Palmas 0,9 % 7,08 €
Santa Cruz de Tenerife 1,5 % 6,82 €

 


Five municipalities record monthly price increases

The average price of housing for rent increases in April in five of the fifteen municipalities analyzed by fotocasa. The price increases in these municipalities are between 4.1% in Adeje (Santa Cruz de Tenerife) and 0.2% in Santa Cruz de Tenerife Capital.

In relation to prices, San Bartolomé de Tirajana is the municipality with the highest rental price of the Canary Islands, with an average of 11.82 € / m2 per month. They follow Adeje (10.64 € / m2 per month) and Arona (10.08 € / m2 per month).

Monthly variation by municipalities and their average price

Province Municipality Monthly variation (%) April 2017
(€/m2)
Santa Cruz de Tenerife Adeje 4,1 % 10,64 €
Santa Cruz de Tenerife Candelaria 4,0 % 7,39 €
Santa Cruz de Tenerife San Cristóbal de la Laguna 3,0 % 5,87 €
Las Palmas Santa Lucía de Tirajana 1,6 % 5,95 €
Santa Cruz de Tenerife  Santa Cruz de Tenerife Capital 0,2 % 6,55 €
Santa Cruz de Tenerife Granadilla de Abona 0,0 % 7,35 €
Santa Cruz de Tenerife Puerto de la Cruz 0,0 % 9,15 €
Santa Cruz de Tenerife Los Realejos 0,0 % 5,26 €
Las Palmas Agüimes 0,0 % 6,21 €
Las Palmas Arucas 0,0 % 5,88 €
Las Palmas Ingenio 0,0 % 5,43 €
Las Palmas San Bartolomé de Tirajana 0,0 % 11,82 €
Santa Cruz de Tenerife Arona -3,9 % 10,08 €
Las Palmas Telde -1,2 % 6,27 €
Las Palmas Las Palmas de Gran Canaria -0,3 % 7,44 €

 


Courtesy of El Digital Sur