Rental price hold ground for Q2 2020 in the Canaries

Property rental price stats for Q2 just came in for Spain. And looks like the Canaries are holding ground reasonably stable. Especially when compared to Baleares, which seems to have been a bit overpriced and experiencing a stronger correction.

This means that there is less ground to expect dramatic price drops here in the future, as the market has decided that prices are reasonably fair at the moment.

Bad news for renters who expected that the holiday rentals coming back to the market would significantly drive down the price. In fact, the rental price in the most touristic part of Las Palmas de Gran Canaria (Las Canteras) has increased by +4.5% since March.

The second thing to note is that renting here in the Canaries is still relatively cheap when compared against Spain’s average rental price in June 11,3 €/m2.

Wish you a great day. ♥ Smile & Be present! 🐝 Invest in observing & Real Estate  ♥

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