The price of rental housing in the Canary Islands falls for the first time this year, although it is a moderate decrease of -0.5% in its monthly variation.
However, it accumulates an 18% increase in its year-on-year variation, reaching an average of 12.83 €/m2 per month in August, according to data from the Fotocasa Real Estate Index Fotocasa.
During the month of August, the rental price at the national level continues to show a slight trend towards moderation of growth after having shown the most significant variations in its history in recent months.
However, the average does not show the reality of the most stressed communities, which continue with very large increases despite the summer season. In fact, 16 of the 50 provincial capitals are once again reaching record prices in the eighth month of the year.
"Demand is slowing down in areas where demand is usually less intense, but it remains dynamic and strong in cities that attract more and more people, which causes double-digit increases in rent," explains María Matos, Director of Studies and spokesperson for Fotocasa.
Only in Extremadura do rentals cost less than a year ago
Compared to a year ago, 16 communities increased the year-on-year price in August. In six communities, double digits are exceeded, specifically in Baleares it rises by 22.1%, followed by Canarias with 18%.
Next, Comunitad Valenciana (15.0%), Cantabria (12.9%), La Rioja (12.5%), Basque Country (10.4%), Madrid (9.5%), Andalusia (7.8%), Catalonia (6.5%), Galicia (6.4%), Castilla y León (5.4%), Navarra (5.1%), Castilla-La Mancha (5.0%), Asturias (5.0%), Aragón (1.8%) and Región de Murcia (1.2%). On the other hand, the only community that presents a decrease compared to the previous year is Extremadura with -1%.
In August 2023, three communities exceed the maximum rental prices per square meter per month. The areas of Spain with the highest prices in the entire historical series are: Basque Country (15.06 €/m2 per month), Asturias (9.11 €/m2 per month) and La Rioja (8.90 €/m2 per month).
Regarding the ranking of Autonomous Communities (CC.AA.) with the most expensive housing price to rent a home in Spain, in the first places are Baleares and Madrid, with prices of 17.01 €/m2 per month and 16.90 €/m2 per month, respectively.
They are followed by six more communities with prices above 10.00 €/m2 per month and are: Catalonia (15.88 €/m2 per month), Basque Country (15.06 €/m2 per month), Canary Islands (12.83 €/m2 per month), Cantabria (12.39 €/m2 per month), Comunitat Valenciana (11.40 €/m2 per month) and Navarra (10.93 €/m2 per month).
