In the Canary Islands, the price of rental housing rises by 2.4% in its monthly variation and 11.6% in its year-on-year variation, placing its price at 14.32 euros per square meter per month in August, according to data from the Fotocasa Real Estate Index.
Thus, the Canary Islands has gone from a year-on-year variation of 18% in August 2023 to 11.6% detected in the same period of 2024. In the last 12 months analyzed, the price of housing has gone from 12.83 euros/m2 per month in August 2023 to 14.32 euros per square meter per month in August 2024.
If we analyze rental prices compared to those of a year ago, we see that all the communities increase the year-on-year price in August. The autonomous communities with increases greater than 10% are: Madrid (18.5%), Asturias (14.9%), Galicia (13.5%), Extremadura (11.8%), Canary Islands (11.6%) and Region of Murcia (10.6%). They are followed by the regions of Andalusia (8.9%), Comunitat Valenciana (8.6%), Basque Country (8.4%), Castilla-La Mancha (8.3%), Castilla y León (8.0%), Aragon (7.4%), Navarra (7.0%), Catalonia (6.2%), Balearic Islands (3.6%), Cantabria (2.9%) and La Rioja (2.7%).
As for the ranking of Autonomous Communities (CC.AA.) with the most expensive housing prices to rent a home in Spain, Madrid for the first time exceeds the average price of 20.00 euros per square meter per month. It is followed by nine more communities with prices above 10.00 euros per square meter per month and they are: Balearic Islands with 17.63 euros per square meter per month; Catalonia with 16.86 euros; Basque Country with 16.32 euros, Canary Islands with 14.32 euros; Cantabria with 12.75 €/m2 per month; Comunitat Valenciana with 12.38 €/m2 per month, Navarra with 11.69 €/m2 per month, Asturias with 10.47 €/m2 per month and Andalusia with 10.23 €/m2 per month. On the other hand, Extremadura is the region with the most economical price with 6.64 €/m2 per month.
Provinces
In the two provinces, the year-on-year price of rental housing increased in August 2024, according to the Fotocasa Real Estate Index.
The order of the provinces with the year-on-year increases is: Santa Cruz de Tenerife (15.8%) and Las Palmas (9.7%).
As for the price per square meter in August, the cities with the highest price to lowest are: Las Palmas with 14.53 €/m2 per month and Santa Cruz de Tenerife with 14.10 €/m2 per month.
Municipalities
The city of Santa Cruz de Tenerife is the one that accumulates the most increases in August with 21.6%. The order of the cities with the highest to lowest rent is: Santa Cruz de Tenerife capital (21.6%) and Las Palmas de Gran Canaria (7.4%).
As for the price per square meter in August, the cities with the highest price to lowest are: San Bartolomé de Tirajana with 19.20 €/m2 per month, Arona with 19.11 €/m2 per month, Puerto de la Cruz with 15.88 €/m2 per month, Las Palmas de Gran Canaria with 14.55 €/m2 per month, Santa Cruz de Tenerife capital with 13.83 €/m2 per month, San Cristóbal de la Laguna with 11.78 €/m2 per month and Telde with 11.40 €/m2 per month.
