Canary Islands Rental Market Reaches Breaking Point
Rental prices in the Canary Islands continue to hit historic highs. According to the latest property index from Fotocasa, rents across the archipelago have risen by 56% since 2021. This means a standard 80-square-metre property now costs €432 more per month than it did four years ago. In the last year alone, the increase has been 6%, equating to an additional €63 each month for tenants.
A Steady and Relentless Climb
In 2021, renting an 80-square-metre home averaged around €765 per month. Since then, the climb has been relentless: €896 in 2022, €1,048 in 2023, €1,134 in 2024, and €1,197 in October 2025. This continuous rise confirms that the Canary Islands remains one of Spain’s autonomous communities where the rental market is under the most severe pressure.
National Trend Mirrors Canarian Crisis
The national trend is similarly stark. Spain has recorded 44 consecutive months of year-on-year increases, reaching historic highs in 18 of those months. The average price has risen by 33% since 2021, standing at €14 per square metre in October 2025. This means an average 80-square-metre flat is now advertised for €134 more per month than a year ago.
An “Extraordinarily Intense” Market Shift
María Matos, Director of Studies and spokesperson for Fotocasa, emphasises that these increases have been “extraordinarily intense for such a short period.” She explains, “We have been chaining historic records month after month for almost four years. This accelerated rise has strained the market to unprecedented limits, although a possible inflection point is beginning to be glimpsed. The rental market is now advancing at two speeds.”
The Real Cost for Tenants Today
For a tenant renewing a contract or searching for a home in October 2025, the outcome is clear: they would pay 30% more than five years ago. A typical home rented for €860 in 2020 costs around €1,120 today—an increase of €260 per month.
Regional Variations in Price Hikes
The rising cost of rent does not affect all regions equally. Among the largest monthly increases are Catalonia (+€303/month) and the Balearic Islands (+€135/month). The Canary Islands sits in an intermediate range, with a rise of +€63/month compared to last year, behind regions like Madrid, Aragon, the Basque Country, and Asturias.
Historic Records With No Clear End in Sight
Meanwhile, the market remains at peak levels: three historic records were set in 2022, four in 2023, seven in 2024, and another four so far in 2025. It is a trend that, for the moment, shows no clear signs of slowing down.
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