The price of rental housing has increased by 7.9% in the Canary Islands archipelago during the last year, leaving the monthly rent of each square meter at 14.3 euros, according to the latest price report from Idealista. This represents a quarterly increase of 1.6% and 0.1% in the last month. On the other hand, the price rises by 10.3% in the province of Santa Cruz de Tenerife, up to 14.2 euros/m2, which represents a historical record, while it rises by 6.4% in Las Palmas, up to 14.5 euros/m2.
In the province of Las Palmas, the price grew in the capital by 5% (up to 12.9 euros/m2). The largest increase among the markets analyzed in the province is that of Santa Lucía de Tirajana (10.4%), followed by that of San Bartolomé de Tirajana (7.3%).
In the province of Santa Cruz de Tenerife, the price has grown by 14.2% in the capital during the last year up to 12.4 euros/m2. The largest increase in the province occurs in Adeje (17.5%), followed by the increase in the capital and Granadilla de Abona (13.6%).
According to Francisco Iñareta, spokesperson for idealista, “renting in Spain continues to be mortally wounded. The supply is the lowest it has ever been, prices are marking historical highs and competition to access housing is fierce. Without investors or owners, the market is doomed to disappear. The measures taken by the executive only contribute to worsening the situation. The owner is not the problem, he is the solution and only by protecting him will we protect the tenant and facilitate access to housing”
Prices continue to rise in the rest of the country
In the first quarter of 2025, the dynamics with which 2024 closed have been maintained in terms of supply and demand, which has maintained the tension in prices. During the winter, the price has grown by 10.3% year-on-year in Spain, reaching 14 euros per square meter per month, marking a new historical high. In quarterly rate, prices have risen by 3.5% during the first quarter.
In the city of Barcelona, prices have increased by 13.2% in the last 12 months, but the growth is 0.4% if we compare it with the month of December. The square meter has been placed at 23.5 euros/m2. Even so, the price has been reduced by 0.7% in the last month.
Madrid finishes the quarter with a year-on-year increase in the price of housing rent of 12.2%, which places the price of the square meter in the capital at 21.2 euros in what is a new historical high. Prices have increased by 2.7% in the capital during the last 3 months.
The price of rent rose by 13.2% in Valencia during the last 12 months. This increase has left the price of the square meter at 15.3 euros, the new historical high of the city. The increase registered in the last quarter has been 2.2%.
All the capitals have higher rental prices than in March 2024, except Lleida where they have been reduced by 1%. Teruel is the capital in which rent has grown the most in a year: 18.8%. Among the large markets, the largest increases have occurred in Valencia (13.2%), Barcelona (13.2%), Madrid (12.2%) and Palma (11%), while the most moderate have occurred in Málaga (9.7%), Alicante (9.4%), Bilbao (8.3%), Seville (7.9%) and San Sebastián (3.5%).
Barcelona is the most expensive capital to rent a home, with 23.5 euros/m2, followed by Madrid (21.2 euros/m2) and San Sebastián (17.7 euros/m2). In fourth place is Palma (17.3 euros/m2) and already in fifth place is Valencia (15.3 euros/m2). At the bottom of the table we find Zamora (7.3 euros/m2), Ourense (7.4 euros/m2), Ciudad Real (7.4 euros/m2), Badajoz and Jaén (7.6 euros/m2 in both cases).
26 of the 52 Spanish capitals analyzed have marked maximum prices this quarter.
The Idealista real estate price index
For the realization of the idealista real estate price index, the offer prices (on built square meters) published by the idealista advertisers are analyzed. In March 2023 we improved our methodology to eliminate atypical and duplicate products, after which the historical series has been regenerated. In addition, atypical ads and ads with prices outside the market are eliminated from the statistics. We include the typology of single-family homes (chalets) and discard properties of any typology that have been in our database for a long time without obtaining interaction from users. The final data is generated using the median of all valid ads in each market.
Data collected and analyzed by idealista/data, the idealista proptech that provides information aimed at a professional public to facilitate strategic decision-making, both in Spain, Italy and Portugal. It uses all the parameters of the idealista database in each country, as well as other public and private data sources to offer valuation, investment, capture and market analysis services.