Rental rates rocket: Alicante province hits record highs

Rental prices for housing in the province of Alicante are soaring, hitting a new record high in the first quarter at €11.12 per square metre per month.

This represents a 0.9 per cent increase, driven by a significant imbalance between supply and demand.

Santa Pola leads the way with a staggering 12 per cent increase, while Benidorm commands the highest prices at an average of €16.76 per square metre.

Alicante ranks 11th nationwide in rental prices, trailing behind cities like Barcelona and Madrid.

The situation is emblematic of the broader trend across Spain, where rental prices are steadily climbing.

In Alicante, municipalities such as Santa Pola, El Campello, and Benidorm have seen notable price hikes in the first quarter.

In terms of ranking, Benidorm tops the list with the highest rental prices, followed by Santa Pola, El Campello, and Calp.

Despite the increases, rental costs in Alicante remain comparatively lower than in major cities like Valencia and Barcelona.

“The rental price has once again reached a new historical high nationwide, affecting more than half of the autonomous communities and 14 of the 50 provincial capitals,” stated María Matos, Director of Studies and spokesperson for Fotocasa.

“The situation is alarming, as nearly two years after surpassing the prices seen during the 2007 bubble, rental costs continue to rise sharply with no signs of slowing down.”