The price of rented housing increased by 2.3% in the Canary Islands in May, according to Idealista.
In Spain as a whole, the month of May closed with a monthly rise in the price of rent in Spain of 1.8%, to 13.2 euros per square metre, which is the highest rental price in Spain in the historical series (since 2007).
In the last quarter, the price has risen by 5%, while in the last year there has been a rise of 13.4%.
Capital Cities and Regional Comparisons
Capital cities such as Girona (4.5%), Jaén (4.2%), Huelva (3.8%), and Las Palmas de Gran Canaria (3.1%) have registered the highest rises, with rents also increasing in Barcelona (2.4%) and Madrid (1.3%).
In contrast, Tarragona is the capital where rents have fallen the most over the last month (-2.2%), followed by Zamora (-2.1%), Toledo (-2%), Melilla (-1.3%), and Segovia (-1.1%).
Regional Rents Increase
The price of rent has risen in all regions of Spain, especially in the Balearic Islands (7.6%), followed by Cantabria (4.3%), Murcia (3.3%), Asturias (2.6%), Valencia (2.5%), the Canary Islands (2.3%), Aragon (2.2%), and the Basque Country (2%).
Below 2% are the increases in Catalonia (1.7%), Community of Madrid (1.6%), Galicia (1.1%), Extremadura (0.9%), Andalusia (0.8%), Castilla-La Mancha (0.7%), Castilla y León (0.5%), La Rioja (0.5%), and Navarra (0.4%).
Price Per Square Metre
By square metre, the Balearic Islands (19.1 euros per square metre) and the Community of Madrid (17.6 euros) are the most expensive regions, ahead of Catalonia (17.1 euros), the Canary Islands (14 euros), and the Basque Country (13.8 euros). On the opposite side of the table are Extremadura (6.5 euros/m²) and Castilla-La Mancha (7 euros/m²), which are the cheapest regions.
Provincial Rent Increases
The price of rent has risen in 38 provinces compared to April, with the most notable increases in the Balearic Islands (7.6%), Huelva (7.4%), Soria (6.5%), Castellón (6.4%), and Girona (6.1%).
On the other hand, the only provinces to have experienced decreases in rents were Zamora (-2.1%), Teruel (-1.3%), Ávila (-1.1%), and Álava (-0.6%).