Rent comparison: Here's where the Canary Islands are the most expensive

The key points:

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In the Canary Islands, the average price per square metre is 16.09 euros, an increase of 7.2 per cent compared with the previous year.
Puerto de la Cruz on Tenerife is the most expensive municipality in the archipelago, with an 80-square-metre flat costing 1,326 euros.
The five most expensive municipalities in the Canary Islands are above the Spanish national average of 1,131 euros; only Madrid and the Balearic Islands are more expensive.

The average rent in the Canary Islands is 16.09 euros per square metre. This is shown by the latest rent index for the Canary Islands. Whilst the average rent has therefore risen by 7.2 per cent, it is important to look at individual regions.

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Puerto de la Cruz, in the north of Tenerife, stands out in this regard. The municipality, situated at the foot of the lush Orotava Valley, recorded the highest average rents in the entire archipelago in July. This is according to data from Fotocasa.

„The rental market in the Canary Islands continues to grow at a rapid pace,“ said María Matos, who is responsible for rental studies at Fotocasa, adding: „With a year-on-year increase of 7.2 per cent in July, the rent for an 80-square-metre flat came to almost 1,282 euros.“ We take a look at the most expensive regions in the Canary Islands:

Canary Islands rents at an all-time high

According to the Fotocasa rental index, Puerto de la Cruz was well above the Canary Islands average. There, a comparable flat cost 1,326 euros. Even the regional capitals rank below this figure: next come Las Palmas de Gran Canaria at 1,260 euros and Candelaria (Tenerife) at 1,249 euros. In Agüimes (Gran Canaria), the rent was 1,218 euros; only then does Tenerife’s capital, Santa Cruz, follow in fifth place at 1,156 euros.

This means that the five most expensive municipalities in the Canary Islands are well above the Spanish national average. Nationally, an 80-square-metre flat would cost 1,131 euros.

Madrid remains the most expensive region at 19.27 euros per square metre, ahead of the Balearic Islands at 19.07 euros. Catalonia follows, having seen a significant drop to 17.08 euros – a figure that is still high.

At the other end of the scale, Castile-La Mancha ranks second from last with 9.14 euros, ahead of Extremadura with 7.87 euros. This means that the Canary Islands are roughly twice as expensive as the cheapest region in Spain in terms of rent.