Las Palmas, fourth most expensive province in Spain for a family to rent an apartment

Families residing in the province of Las Palmas allocate 35% of their income to rent

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EKN

October 17 2023 (11:10 WEST)
Arrecife Homes. Rental. Photo: José Luis Carrasco.
Arrecife Homes. Rental. Photo: José Luis Carrasco.

The Spanish provinces where families have to dedicate the highest percentage of their income to renting an apartment are Málaga and the Balearic Islands, where they need almost half of their income (49%), according to idealista.com.

Next, the families that have to make the greatest effort to rent a home in Spain live in the province of Barcelona (41%) and in the province of Las Palmas (35%)

In one year, the percentage that families must allocate to rent in the province of Las Palmas has increased by 6 points, as it was 29% in September 2022

In contrast, the provinces where families have to spend less money on rent are Teruel (16%), Palencia (17%), Ciudad Real, Lugo, Zamora and Huesca (19% in all four cases).

 

Effort to buy

In most cases, the effort to buy is less than to rent. Also in the province of Las Palmas, where families must allocate 25% of their income to the acquisition of a home.

In the province of Santa Cruz de Tenerife, the effort to both rent and buy is the same and amounts to 34% of income.

Balearic Islands also leads this ranking, as families living in the Balearic archipelago must allocate 45% of their income to this end. It is followed by Málaga, where they need 43%, Santa Cruz de Tenerife (34%) and Alicante (28%).

 

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