Table of Contents of Marbella Rental Prices
Beachfront Flat Rentals Witness a Price Surge
Renting a beachfront flat has become more expensive, with the average cost now around €1,160 per week. This is a significant increase of nearly 10% from the previous summer and a whopping 40% rise compared to the summer of 2020, post the pandemic. Some popular destinations like Santanyi, Ibiza, and Pollensa in the Balearic Islands or Puerto Banús in Marbella now cost more than €3,000 per week. Coastal destinations like Santa Cruz de Tenerife, Las Palmas, Cantabria, and Lugo have seen a price increase of over 12%.
Canary Coast, Cantabria, and Lugo See the Highest Rise in Vacation Rentals
If you are planning to rent a house this summer, be prepared to shell out more than you did last year. Especially if you are eyeing sun and beach destinations with seafront flats, the prices have surged by an average of 9.95% compared to last summer. This data comes from a report by Tecnitasa Group on weekly rental prices on the seafront in the main Spanish coastal areas in August.
Average Rent Now Stands at €1,160 per Week
The average rent now stands at €1,160 per week, which is €105 more than in 2023. The increase over the last three years is around 25%. While the conventional real estate market is slowing down the number of transactions and containing value increases, the holiday rental market continues to see significant average increases. This is according to Fernando García Marcos, the technical director of the Tecnitasa Group.
Comparing Current Prices with Those of 2020
The current price increase of almost 10% is in stark contrast to the rise in 2023, which was set at 3.75%, below the CPI. However, when compared to the prices of 2020, the first summer after the COVID-19 pandemic, the increase is over 40%, when an average of €826 per week was paid.
Canary Coast, Cantabria, and Lugo Witness the Highest Rise in Vacation Rentals
The provinces where the price of beachfront holiday rentals has risen the most are the two Canary Islands provinces, Lugo and Cantabria. All these areas have seen increases of over 12%. In both Gran Canaria and Tenerife, the two capital islands with the most touristic towns of the archipelago, the average price increase compared to last summer is more than €300 per week.
Most Expensive and Most Affordable Vacation Rentals
The autonomous regions with the greatest price difference between the most exclusive and the most affordable in their region are Galicia, Andalusia, and the Balearic Islands. The most expensive places to spend the summer are in Santanyi, Ibiza or Pollensa, where holiday rentals exceed €3,000 for seven days, and also Puerto Banús (Marbella). Among the most affordable destinations are the beaches in northern, eastern and southern Spain or the Valencian Community, where the rent does not exceed €500 in some locations.
