Overview of Spain’s Holiday Rental Prices in 2023
The average cost of a week’s beachfront rental in Spain during August has seen a moderate increase, standing at approximately 1,055 euros. This data is according to Tecnitasa, a group specializing in valuation, consultancy, and sustainability. This article will delve into the details of Spain’s holiday rentals and their costs in 2023.
Cost of Renting with Sea Views in 2023
In 2023, the cost of renting a property with good sea views will be 3.75% higher than the previous year. This means that the average increase in Spain this year has been 40 euros for each week of renting, rising from 1,016 euros per year to the aforementioned 1,055 euros.
Price Increase Moderation in 2023
Despite the price increase moderation in 2023, Tecnitasa reminds us that since the summer of the pandemic, the cost of rent has increased by more than 27%, resulting in an additional 230 euros per week. The summer rental market in Spain is much more volatile than the conventional property market, with volume and prices fluctuating as the holiday period approaches.
Regional Variation in Spain’s Holiday Rental Prices
Tecnitasa’s analysis indicates that the autonomous communities experiencing the highest growth in holiday apartment prices are the Balearic Islands and the Canary Islands, which are double the national average. Galicia and the Basque Country also show significant increases. Conversely, the most moderate rises are seen in Murcia, Cantabria, and Catalonia, with year-on-year increases of less than 3%.
Early Booking Trend for Beachfront Property Rentals
José María Basañez, the president of Tecnitasa, notes that there is a trend of early booking for beachfront property rentals for the summer season. Many holidaymakers have booked more than six months in advance to avoid any last-minute surprises.
Most Expensive and Cheapest Holiday Apartments in Spain
Tecnitasa’s data reveals that the most expensive locations for summer rentals in Spain include Puerto Banús (Marbella), La Marina de Sotogrande, Puerto de Santa María (both in Cádiz), Illa a Toxa (Pontevedra), and areas in Cantabria (Liencres) and the Balearic Islands (Santanyi). The cheapest areas for holiday rentals include Vicedo and Burela in Lugo; Tapia de Casariego and Navia, in Asturias; Laredo or Comillas, in Cantabria and Gorliz, in the Basque Country.
Cheapest Destinations on the Mediterranean Coast
On the Mediterranean coast, some of the cheapest destinations according to Tecnitasa include towns in Castellón (Moncófar and Vinaroz), Valencia (El Saler), Alicante (Calpe) and Murcia (Águilas en Colonia and Calabardina).
Find the Best Holiday Apartments in Spain
For the best selection of holiday apartments in Spain, consider checking out Rentalia.
