According to the quarterly rental price report from pisos.com, the typical rental apartment in the Canary Islands registered an average rental price of 14.08 euros per square meter in March 2025, which represented a quarterly increase of 6.83%. Compared to March 2024, it grew by 19.63%, being the second in the national ranking of increases. Monthly, it rose by 2.70%, the fifth most intense rebound in Spain.
Canary Islands was the fourth autonomous community with the most expensive monthly payment for tenants, behind Madrid (14.08 euros per square meter), among others. For its part, housing for rent in Spain had an average price of 13.12 euros per square meter in March 2025. This figure marked a monthly increase of 2.34% and a quarterly increase of 7.72%. Year-on-year, it revalued by 14.69%.
By provinces, compared to December 2024, the price in Las Palmas rose by 8.35%, more than in Santa Cruz de Tenerife (5.01%).
In the year-on-year variation, the rebound in Santa Cruz de Tenerife (24.26%) was the third most relevant in Spain, and that of Las Palmas (13.12%) was more contained. With 14.14 euros per square meter in March 2025, Las Palmas was the fourth most expensive province in the country, while Santa Cruz de Tenerife, with 13.42 euros per square meter, was the sixth.
The pressure on housing rental prices continues. Ferran Font, director of Studies at pisos.com, points out that "in some cities, the race to rent an apartment requires the permanent attention of potential tenants, given that offers do not last even a day published".
In this sense, the spokesperson for the real estate portal points out that "more and more real estate intermediation agencies are not even showing this product in their shop windows at street level, given that they have candidates on the waiting list".
Regarding the Canarian capitals, Las Palmas de Gran Canaria (2.52%) grew more quarterly than Santa Cruz de Tenerife (0.85%). From one year to another, Las Palmas de Gran Canaria (5.97%) surpassed Santa Cruz de Tenerife (0.51%), which was the one that rose the least in the country. In the section of average monthly rents, Las Palmas de Gran Canaria (14.67 €/m²) was the eighth most expensive in Spain, while Santa Cruz de Tenerife (12.06 €/m²) was somewhat more affordable.
