The average cost per square metre for renting an apartment in Arrecife rose to 11.3 euros in August this year, the equivalent to a year-on-year growth of 23.2% according to idealista.com.
The rise in average cost per square metre means that a 100 metre flat now costs on average 1130 euros per month, compared to 920 euros per month in August 2023.
Rental prices in Arrecife are still below the average for the archipelago, however, it is growing at twice the rate. The average cost per square metre for renting an apartment in the Canary Islands is 14 euros, 10.8% more than a year ago.
Rental prices in Arrecife did decrease slightly in July to 11 euros per square metre on average, after reaching a historic high of 11.5 euros per square metre in June.
