In a concerning trend for renters, rental prices of residential properties in the Canary Islands surged by 12.8% in April compared to the same month last year, marking a 2.6% increase from March and hitting a historic high of 13.6 €/m2 on average, according to data compiled by 'Idealista', even though prices in Santa Cruz de Tenerife dropped slightly.
Nationally, rental prices rose by 2% in April compared to the previous month, and 13% year-on-year, reaching 13 euros per square metre, representing the highest price nationally recorded in historical data.
The real estate portal highlights that 41 cities in Spain experienced an increase in housing rental prices over the last month. The most notable was in Soria, where rents rose by 6.3%, followed by Huesca (3.9%), Jaén (3.3%), Vitoria (3%), and Valencia (2.8%).
Conversely, Badajoz witnessed the most significant decrease in rents over the past month (-1.6%), followed by Ourense (-1.2%), Santa Cruz de Tenerife (-0.9%), Pontevedra, and Toledo (-0.5% each).
Regional data reveals that rental prices have risen in 15 regions of Spain over the last month. The Balearic Islands had the biggest increase of 6.3%, followed by Cantabria (6.2%), the Canary Islands (2.6%), Valencia (2.5%), Andalusia, and Murcia (2.1% each).
Catalonia (1.9%), Castilla y León (1.8%), the Community of Madrid (1.8%), Galicia (1.7%), Euskadi (1.6%), Navarra (1.3%), Asturias (1.1%), Aragón (0.7%), and Castilla-La Mancha (0.5%) were all below the 2% increase mark.
