Renting a beachfront flat will cost an average of around €1,160 a week, according to Tecnitasa's study for August. This price is almost 10% more than last summer, and over 40% more compared to the summer of 2020, having come out of the worst of the pandemic. Destinations such as Santanyi, Ibiza and Pollensa (Balearic Islands) or Puerto Banús (Marbella) exceed €3,000 per week, while the coastal destinations of Santa Cruz de Tenerife, Las Palmas, Cantabria and Lugo exceed a 12% increase in prices.
If you have not yet rented a house for this summer, you should know that you are a little late and you may be surprised to find prices much higher than a year ago. If you like sun and beach destinations and are looking for something on the seafront, flat prices have risen by an average of 9.95% compared to last summer, according to a Tecnitasa Group report on weekly rental prices on the seafront in the main Spanish coastal areas in August.
The average rent is €1,160 per week, which means an average outlay of €105 more than in 2023. "The increase over the last three years is around 25%. The conventional real estate market is slowing down the number of transactions and containing value increases, but in the holiday rental market, however, significant average increases continue," highlights Fernando García Marcos, technical director of the Tecnitasa Group.
This increase of almost 10% contrasts with the rise in 2023, which was set at 3.75%, below the CPI. But if we compare current prices with those of 2020, in the first summer after the COVID-19 pandemic, the increase rises to over 40%, when an average of €826 per week was paid.
Vacation rentals rise more on the Canary coast, Cantabria and Lugo
The provinces where the price of beachfront holiday rentals has risen most have been in areas as diverse as the two Canary Islands provinces, Lugo and Cantabria – all with the Atlantic Ocean as a backdrop – with increases of over 12%.
In both Gran Canaria and Tenerife, the two capital islands and where the most touristic towns of the archipelago are located, such as Adeje, Mogán, Arona, San Bartolomé de Tirajana, Puerto de la Cruz or the capital of Las Palmas de Gran Canaria itself, the average price increase compared to last summer is more than €300 per week.
Holiday rent has risen to €1,900 a week in Comillas and Playa de la Concha in Suances, while in Laredo and Santoña it is close to €1,400. Meanwhile, in Lugo, there is practically nothing below €550, a rise of more than €100 compared to 2023.
Tecnitasa's president, José María Basañez, says that "the demand – both Spanish and foreign – remains very strong, and means that almost everything has been reserved for months. This situation means there isn't much chance for those who are lagging to find something at the last minute".
From Ibiza or Puerto Banús to Tapia de Casariego: from the most expensive to the most affordable
The autonomous regions with the greatest price difference between the most exclusive and the most affordable in their region, with prices exceeding €2,000 per week, 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). Sanxenxo and the island of La Toja are other privileged destinations on the Spanish coast.
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.
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