The price to rent a property increased by 5.8% in March in the Canary Islands
The price to rent a property in the Canary Islands has increased by 3.4% in the first quarter of 2022, following a year-on-year increase of 5.8% in March, according to data from the Fotocasa Real Estate Index. This now means that the average price is 9.96 euros per square metre per month (€/m2 per month).
The city with the highest quarterly increase is Las Palmas de Gran Canaria with 7.3%, while in Santa Cruz de Tenerife it has fallen by 3.2% so far this year.
As for the price ranking by municipality, the one with the most expensive rents is Las Palmas at €11.46/m2 per month, followed by Santa Cruz capital at €8.95/m2 per month.
Meanwhile, in Spain as a whole, the country has ended the first quarter of 2022 with a year-on-year increase in the price of renting of 0.8%, the first increase in 13 months.
"These data show that the rental market is once again returning to normality and the demand is increasing month by month," explained the Director of Studies and spokesperson for Fotocasa, María Matos.
This first quarter of 2022 is presented with quarterly increases in all regions of Spain, and with 16 year-on-year increases.
Ranking of rental prices per m2 by region:
Catalonia is the most expensive at 14.33 euros per square meter per month.
Madrid 14.29 euros
The Basque Country 13.38 euros.
The Balearic Islands 12.10 euros.
Navarra 10.11 euros.
The Canary Islands 9.96 euros.
Cantabria 9.65 euros.
Valencia 9.26 euros.
Andalusia 8.70 euros.
Aragon 8.67 euros.
Asturias 8.25 euros.
Murcia 7.70 euros
Galicia 7.66 euros.
Castilla y León 7.61 euros
La Rioja 7.52 euros.
Castilla-La Mancha 6.12 euros
and Extremadura 5.90 euros.
Other articles that may interest you...