Canary Islands Rent Prices Rise 8.1% Through October

The Canary provinces rank among the most expensive in Spain for renting a home

The rental price in the Canary Islands increased by 8.1% in October compared with the same month last year, reaching €15.1 per square metre, according to the report released on Monday by the real‑estate portal Idealista.

Over the last three months, prices in the archipelago rose 0.3%, matching the monthly figure and marking a 0.3% increase from September.

The Canary provinces are among the priciest in Spain, with €15.3 per m² in Las Palmas and €14.9 per m² in Santa Cruz de Tenerife.

Nationally, October closed with an annual increase of 10.9%, setting the average rental price at €14.5 per square metre—0.7% lower on a quarterly basis but 0.1% higher than the previous month.

Rentals rose in every Spanish region since October of last year. The Community of Madrid led the surge with a 12.7% increase, followed by Andalusia (11.8%) and Castilla‑La Mancha (11.8%).

Below the national average, the growth rates were:

• La Rioja – 9.9%
• Valencian Community – 9.9%
• Castile and León – 9.1%
• Balearic Islands – 9.0%
• Aragon – 8.5%
• Canary Islands – 8.1%
• Region of Murcia – 7.9%
• Asturias – 7.4%
• Catalonia – 7.1%

The smallest year‑over‑year increases occurred in:

• Navarre – 3.0%
• Extremadura – 4.0%
• Cantabria – 4.%
• Basque Country – 5.2%
• Galicia – 5.3%