Rental prices in Arrecife rose again in September, increasing by 1.2% compared to August to reach 11.4 euros per square meter.
Compared to September of last year, prices are 16.4% higher, the most significant growth among all the Canary Island municipalities analyzed by idealista.com.
In the Canary Islands as a whole, however, rents decreased by 1% in September, although they are 8.6% more expensive than twelve months ago.
By province, the price rises by 10.7% in Santa Cruz de Tenerife, to 13.5 euros/m2, and 7% in Las Palmas, to 14.1 euros/m2.
In the province of Las Palmas, the price grew by 11.7% in the capital (to 13 euros/m2). The largest increase among the markets analyzed in the province is that of Arrecife (16.4%), followed by that of the capital and La Oliva (11.3%).
In the province of Santa Cruz de Tenerife, the price has grown by 9.3% in the capital during the last year to 11.8 euros/m2. The largest increase in the province occurs in Arona (15.4%), followed by Granadilla de Abona (14.2%) and Adeje (13.3%).
Nationally, rents are 10.2% more expensive than a year ago
In this third quarter of the year, the price has grown by 10.2% year-on-year in Spain, reaching 13 euros per month. Even so, in quarterly terms, prices have decreased by 2.4% during the summer.
In the city of Barcelona, prices have increased by 12.1% in the last 12 months, but the growth is 1.5% if we compare it with June of this year. The square meter has been situated at 22.4 euros/m2. After growing by 3.5% in the last month alone, the city is once again at its maximum.
Madrid finishes the third quarter with a year-on-year increase in the price of housing rentals of 15.7%, which places the price per square meter in the capital at 20.4 euros, a new historical maximum. Prices have increased by 3.1% in the capital during the last 3 months.
The price of rent rose by 15.4% in Valencia during the last 12 months. This increase has left the price per square meter at 14.3 euros, the new historical maximum for the city. The increase registered in the last quarter has been 1%.
All capitals have higher rental prices than in September 2023. Palma is the capital in which rent has grown the most in a year: 18.9%. Of the rest of the large markets, the largest increases have occurred in Alicante (13.9%) and Málaga (13.2%), while the most moderate have occurred in Bilbao (5.9%), Seville (6.5%) and San Sebastián (6.9%). The smallest increase in Spain occurred in Lleida, with a growth of only 3.8%.