Rental Prices in Santa Cruz de Tenerife 2023
Rental price statistics in the province of Santa Cruz de Tenerife - CANARIAS
Ranking
#12 of 50 provinces
Variation 2023
+6.2%
Median rent (Collective housing)
7.50€/m²
Median amount/month
520.00€
Collective housing
2023
Median rent
7.50€/m²
Median amount
520.00€
Median area
75 m²
Contracts
45,762
Single-family housing
2023
Median rent
5.21€/m²
Median amount
532.28€
Median area
150 m²
Contracts
8,418
Historical rent evolution
Price evolution
| Year | €/m² | €/month | Contracts | Variation |
|---|---|---|---|---|
| 2011 | 5.56 | 400.00 | 22,314 | - |
| 2012 | 5.44 | 399.07 | 23,073 | -2.2% |
| 2013 | 5.30 | 380.21 | 24,071 | -2.6% |
| 2014 | 5.27 | 379.17 | 26,406 | -0.6% |
| 2015 | 5.29 | 380.00 | 29,079 | +0.4% |
| 2016 | 5.38 | 390.00 | 31,469 | +1.7% |
| 2017 | 5.56 | 400.00 | 34,483 | +3.3% |
| 2018 | 5.78 | 401.54 | 36,601 | +4% |
| 2019 | 6.32 | 450.00 | 38,834 | +9.3% |
| 2020 | 6.49 | 450.00 | 40,807 | +2.7% |
| 2021 | 6.72 | 472.00 | 42,526 | +3.5% |
| 2022 | 7.06 | 500.00 | 43,761 | +5.1% |
| 2023 | 7.50 | 520.00 | 45,762 | +6.2% |
In 2024, the average rental price in Santa Cruz de Tenerife reached a staggering €1,200 per month, marking a 15% increase compared to the previous year. This figure highlights the growing demand for rental properties in the region, reflecting a trend that has significant implications for both residents and potential investors.
Historically, Santa Cruz de Tenerife has experienced fluctuations in rental prices, influenced by various economic and demographic shifts. Compared to other regions in Spain and the broader European Union, the rental market in Santa Cruz has become increasingly competitive. For instance, cities like Barcelona and Madrid have traditionally held higher rental averages, but with Santa Cruz's recent surge, it is starting to draw parallels, positioning itself as a sought-after location for both locals and expatriates.
Within Santa Cruz itself, the rental landscape varies significantly. In the bustling area of La Laguna, average rental prices hover around €1,050, whereas coastal neighborhoods like Los Cristianos can reach up to €1,500 due to their proximity to the beach. Conversely, more rural areas such as El Sauzal offer more affordable options, averaging around €800 per month. Seasonal variations also play a role; prices tend to peak during the tourist season, particularly from June to September, when demand escalates dramatically.
Several factors contribute to the rising rental prices in Santa Cruz de Tenerife. The region's economic growth, fueled by increased tourism and investments in infrastructure, has led to a higher influx of residents. Additionally, demographic changes, including a notable rise in young professionals and retirees seeking a more temperate climate, have intensified demand. Political stability and pro-business policies have further encouraged real estate investment, which impacts rental rates positively.
For residents, these increasing rental costs can have profound effects on daily life. Individuals and families may find themselves allocating a larger portion of their income to housing, potentially compromising their ability to save or invest in other areas such as education or leisure. The competitive rental market can also lead to heightened stress in securing desirable properties, particularly for newcomers to the island.
To navigate this evolving rental landscape, prospective tenants should conduct thorough market research and consider exploring neighborhoods outside the most popular areas. Engaging with local real estate agents can provide valuable insights and access to listings that may not be widely advertised. Additionally, understanding the seasonal trends in rental pricing can help individuals time their searches to secure better deals.
Looking ahead, the rental market in Santa Cruz de Tenerife is expected to continue its upward trajectory, with projections indicating a further 10% increase over the next two years. Factors such as ongoing infrastructure development and a steady influx of international visitors are likely to sustain demand. However, potential economic fluctuations and shifts in tourism patterns could introduce unpredictability, necessitating ongoing monitoring of market trends.
In conclusion, understanding the dynamics of the rental market in Santa Cruz de Tenerife is crucial for both current residents and those considering a move to the area. By staying informed about rental trends and utilizing strategic approaches to searching for housing, individuals can better position themselves in this competitive market.