Canary Islands rent prices up 56% in four years, Fotocasa says

It means paying on average €432 more than in 2021

The cost of renting a home in the Canary Islands has risen 56 % over the past four years, which translates into an extra €432 per month compared with 2021. In the last year alone, island rents increased by 6 %, or about €63 more per month on average.

According to Fotocasa’s real‑estate index, rental prices have been climbing steadily since 2021, when an 80‑square‑metre apartment cost around €765 per month. Since then the price has risen to €896 (October 2022), €1,048 (2023), €1,134 (2024) and €1,197 in October 2025.

Across Spain, rental prices have been posting consecutive year‑over‑year increases for 3.6 years (44 months), hitting record highs in 18 of the last 44 months analyzed.

During this 44‑month period, the average rent in Spain grew by 33 %, reaching €14 per square metre in October 2025. The month‑on‑month increase for October was 13.5 % (≈ €1.67 per m²). Multiplying that by the typical 80 m² apartment shows that rents are now about €134 higher per month than a year ago.

“These are extraordinarily intense increases for such a short period, and they explain why we’ve been setting month‑by‑month historic records for almost four years. This accelerated price pressure has stretched the market to unprecedented limits, but a possible turning point is beginning to emerge. Rental growth is now happening at two speeds,”
— María Matos, Director of Studies and Spokesperson at Fotocasa

Matos also notes that a typical tenant renewing a lease or looking for a new home in October 2025 would face a 30 % rent jump compared with five years earlier. An 80‑m² apartment that cost €860 per month in 2020 would now be around €1,120, meaning an extra €260 each month.

To date, Spain’s rental market continues an upward trend when compared with the same months of the previous year. Over the last 44 months, the market has recorded successive historic peaks: three in 2022, four in 2023, seven in 2024, and four so far in 2025.

Regional Increases (€/month)

• Catalonia: +€303
• Balearic Islands: +€135
• Madrid: +€? (fourth highest)
• Aragon: +€106
• Basque Country: +€98
• Asturias: +€96
• Valencian Community: +€95
• Castilla‑La Mancha: +€86
• Andalusia: +€74
• Extremadura: +€66
• La Rioja: +€65
• Canary Islands: +€63
• Region of Murcia: +€56
• Castile and León: +€54
• Cantabria: +€50
• Navarre: +€46
• Galicia: +€43

These figures illustrate the widespread pressure on renters across Spain, with the Canary Islands experiencing one of the steeper annual increases.