How sharply are rents rising in the Canary Islands?
The average rent in the Canary Islands reached 1,211 euros a month in the third quarter of 2026, according to the Barómetro del Alquiler. That is 8.81 percent more than at the end of 2025. Compared with the previous quarter, the increase is 4.94 percent.
The figure is just below the Spanish average of 1,214 euros. According to the report, only the Balearic Islands, Cataluña, Madrid and the Basque Country have higher average rents. The Canary Islands therefore remain one of the most expensive regions in Spain.
The figures come from the Observatorio del Alquiler, which is supported by the Fundación Alquiler Seguro. They are market data from rental listings, not official statistics from ISTAC or INE.
Which province is most affected?
The province of Santa Cruz de Tenerife has the highest average rent in the Canary Islands at 1,240 euros a month. The figure is above both the regional and the national average. Since the end of 2025, the increase has been 13.76 percent.
Compared with the previous quarter, rents in Santa Cruz de Tenerife rose by 9.64 percent. That is the sharpest increase within the archipelago. The province covers Tenerife, La Palma, La Gomera and El Hierro.
The province of Las Palmas is lower, at 1,183 euros a month. There the increase since the end of 2025 is only 4.23 percent. The province of Las Palmas includes Gran Canaria, Lanzarote and Fuerteventura.
How much competition is there for rental homes?
The report measures pressure on the rental market by the number of contacts per property in the first ten days. In the Canary Islands there are on average 110 prospective tenants per property. Only Cataluña, the Basque Country, the Balearic Islands and Madrid record more interest.
In Las Palmas the figure is 109 contacts per property. That is a fall from 121 contacts at the end of 2025 and 123 in the previous quarter. Competition nevertheless remains high.
In Santa Cruz de Tenerife the report records 111 contacts per property. That is more than in Las Palmas and more than the 102 contacts at the end of 2025. Compared with the previous quarter, when there were 116 contacts, the figure has fallen.
What does this mean for tenants and long-stay visitors?
Anyone taking on a new rental or renewing a contract should expect to face the higher market prices. Asking rents have risen sharply in Santa Cruz de Tenerife in particular. In Las Palmas the increase is more moderate.
For young tenants aged between 18 and 35 there is the Bono Alquiler Joven 2026. The support amounts to up to 250 euros a month and up to 6,000 euros in total over 24 monthly instalments. A low income is a requirement.
What support is available for tenants?
The Bono Alquiler Joven 2026 is aimed at tenants or people with a right of use aged between 18 and 35. The monthly rent for a flat may not exceed 900 euros. For a rented room, the limit is 450 euros a month.
According to the available information, the deadline for the 2026 call ran from 18 September to 8 October 2026.
Interested applicants should check the details on the Gobierno de Canarias website.
How is supply developing?
The report expects an increase in homes being marketed in 2026. In Las Palmas, supply is expected to rise by 4.07 percent to 18,348 properties. At the end of 2025 the figure was 17,631.
In Santa Cruz de Tenerife, stronger growth of 10.98 percent to 17,452 homes is expected. Overall, the stock in the Canary Islands would grow by 7.33 percent from 33,356 to 35,800 properties.
However, according to the report, a larger supply does not guarantee falling prices. Demand continues to focus on a limited number of homes. Rents are therefore likely to remain high for the time being.