PROVINCIA DE ALICANTE – In Alicante, known for its sun-drenched beaches of the Costa Blanca, rental prices are skyrocketing. The average cost of renting an apartment approaches €900 per month. For many, that means a big chunk out of their budget.
With an average price of €9.7 per square metre, Alicante ranks second in the Comunitat Valenciana in terms of rental costs, just below Valencia, where the price is €10.8 per square metre. The increase has not gone unnoticed; Over the past year, the average rental price has increased by more than 16%.
Calpe: top of the Alicante area rental market
Calpe takes the cake as the most expensive municipality in Alicante to rent an apartment. With a price of €11.2 per square metre in September 2023, it is far above the provincial average. For a standard apartment of 80 square metres, this means almost €900 in monthly rent.
More affordable living in Alcoy and Elche
For those looking for more affordable options, Alcoy offers a solution with a square metre price of €6. In Elche, with a price of €7.2 per square metre, rental prices are also considerably lower.
New rental law
Earlier today, we wrote that real estate experts see that the recently introduced new Housing Act in Spain is driving up rental prices. New rules deter investors and project developers. This leads to a declining number of rental properties on the market, while demand remains high or even increases.