Rents climb for 55th consecutive month
The average price of rental housing in the Canary Islands rose again in May 2026. According to the Fotocasa Property Index, rents recorded an annual increase of 8%, reaching 16.28 euros per square metre per month. With this latest rise, the archipelago has now clocked up 55 consecutive months of rental market increases – equivalent to more than four and a half years of continuous growth.
Canary Islands fifth most expensive region in Spain
Nationally, the Canary Islands ranks as the fifth most expensive autonomous community for rent, behind only Madrid (21.96 euros/m2 per month), Catalonia (19.30 euros/m2), the Balearic Islands (19.10 euros/m2) and the Basque Country (17.55 euros/m2).
Provincial breakdown: Santa Cruz de Tenerife and Las Palmas
By province, Santa Cruz de Tenerife recorded an annual rise of 9% in May, reaching 16.17 euros per square metre per month. In Las Palmas, the increase was 7.3%, with an average price of 16.42 euros per square metre per month.
Towns with the biggest price jumps
Every municipality analysed by Fotocasa posted annual increases. Telde led the rises with a 21.8% jump, followed by Candelaria at 14.9% and Puerto de la Cruz at 14.5%. In absolute terms, San Bartolomé de Tirajana was the most expensive municipality in the Canary Islands, at 21.69 euros per square metre per month. At the other end of the scale, La Orotava recorded the lowest price, at 6.71 euros per square metre per month.
Market comment: demand pressure remains intense
Fotocasa’s Director of Studies and spokesperson, María Matos, noted that rents in the Canary Islands maintain a steady upward trend, although they are now well below the double-digit increases seen in earlier periods. Even so, she warned that demand pressure remains high and that tenants’ capacity to pay is “at its limit”. Matos stressed that the moderation in the rate of growth does not mean prices are falling. In fact, rental prices in the Canary Islands rose by 2.3% month-on-month in May.
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