The average rent price on Tenerife and the other Canary Islands currently stands at 1,200 euros per month.
The average rent price on Tenerife and the other Canary Islands has increased by 21.02% over the past five years, which is higher than the national average. In Spain as a whole, the average rent price rose from 898.34 euros per month in January 2020 to 1,125 euros per month in January 2025, an increase of 20.15%, according to data published Thursday by the real estate website pisos.com.
Population growth in major cities, a shortage of supply, and rising demand have caused rents to increase explosively in the past five years, according to the report. The rent prices mentioned refer to long-term rentals.
Rent Prices
On a regional level, seven autonomous communities have experienced rent price increases above the national average: Balearic Islands (+37.14%), Catalonia (+31%), Valencian Community (+27%), Murcia (+23.52%), Madrid (+22.91%), Andalusia (+21.80%), and the Canary Islands (+21.02%). In contrast, five autonomous communities have seen rent prices decrease in the past five years: Basque Country (-1.62%), Asturias (-1.66%), Extremadura (-6%), La Rioja (-23.63%), and Navarre (-40.07%).
Most Expensive and Cheapest Provinces
Currently, the provinces with the highest average rent prices are the Balearic Islands (€1,672.45), Madrid (€1,656.90), Barcelona (€1,647.90), Las Palmas (€1,206.90), and Málaga (€1,201.50). The cheapest provinces to rent in are Badajoz (€351), Ciudad Real (€346.50), Soria (€324), Ávila (€313.20), and Ourense (€293.40).
The real estate website pisos.com highlights the case of Ourense, where the average rent allows you to rent up to five properties for the same price as one property in the Balearic Islands, Barcelona, or Madrid.
Structural Shortage of Rental Properties
According to pisos.com, the lack of supply remains the biggest issue in Spain’s rental market.
“The increase in rental prices is not only due to inflation and increasing demand but also a structural shortage of available rental properties. If no effective policies are implemented to increase supply and make housing access easier, the situation will only worsen in the coming years,” said Ferran Font, director of the Research Department at pisos.com.
Guy Devos © Photography
Average rent price on Tenerife ©
Source: pisos.com
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