In Alicante province, rental costs began 2023 with a slight easing, dipping about 1.3% across the first two months and landing an average of 9.71 euros per square meter. Even with this modest drop, prices sit roughly 20% higher than a year earlier, illustrating a continuing upward pace in the regional market. Alicante remains among the top areas where rents have risen most year over year, trailing only the Balearic Islands and Malaga in that ascent.
Fotocasa’s housing index captured February’s rental values. Within the Community of Valencia, prices held steady from the prior month but showed a year-over-year increase of 14.3%, standing at 10.30 €/m2.
Compared to a year ago, price growth occurred across fifteen communities. Notably, several regions posted double-digit increases, including the Balearic Islands at 26%, the Canary Islands at 17.4%, the Valencia Community at 14.3%, Madrid at 12.8%, and Cantabria at 12.1%. Other increases appeared in Catalonia (9.2%), Andalusia (8.8%), Extremadura (8.6%), Galicia (8.1%), Navarra (7.1%), Castilla y Leon (6.9%), the Basque Country (6.1%), Asturias (5.8%), Castilla-La Mancha (5.2%), and the Murcia region (4.4%). Two communities did see declines: La Rioja fell by 2.4% and Aragon by 0.3%.
In February 2023, eight communities registered the highest monthly rents per square meter. The traditional leaders in price levels across Spain were Madrid at 15.90 €/m2, Catalonia at 15.50 €/m2, the Balearic Islands at 15.03 €/m2, the Basque Country at 14.11 €/m2, the Canary Islands at 11.65 €/m2, Andalusia at 9.50 €/m2, and Galicia at 8.17 €/m2. Castilla y Leon stood at 8.03 €/m2 per month as well. These figures reflect a long-term pattern in the crown of rental values in major urban regions.
In another snapshot of the regional market, Madrid and Catalonia sit at the top of the ranking for rental intensity, with prices around 15.90 €/m2 and 15.50 €/m2 per month respectively. Following them are six additional communities with rents above 10 €/m2 per month. The Balearic Islands, Basque Country, and the Canary Islands all show robust levels around the mid-teens. Cantabria and Navarra also report elevated rents, while the Valencian Community sits at roughly 10.30 €/m2 per month. The least expensive major area is Extremadura, where rents average about 6.19 €/m2 per month, marking a clear regional spread in housing costs.
provinces
Across all Valencia Community provinces, February 2022 saw rent prices rise year over year. Fotocasa’s index points to more than a 10% increase in two provinces, with Alicante leading the gains at 20.3%, followed by Valencia at 15.5% and Castellón at 1.3%. When looking at actual monthly costs, Valencia averages 11.25 €/m2, Alicante 9.71 €/m2, and Castellón 7.15 €/m2. It’s noted that Alicante’s current monthly rate does not exceed the late-2022 peak of 9.82 €/m2.
municipalities
Across examined municipalities, rental prices rose year over year in every case. Gandía led the surge in February with a 33.7% jump. Other significant increases occurred in Benidorm (29.5%), Torrevieja (26.7%), Valencia city (22.7%), and Alicante (21.8%). These movements illustrate the intense demand dynamics in coastal and urban centers within the province and its neighboring areas.
Rental price in the province reached historical records with 8.68 euros per square meter.
Looking at February, six of the fifteen municipalities studied surpassed 10 €/m2 per month. The Valencian capital posted 12.68 €/m2, Benidorm 12.46 €/m2, El Campello 11.19 €/m2, Dénia 10.85 €/m2, Alicante 10.83 €/m2, and Santa Pola 10.22 €/m2. On the flip side, Vila-real stood out as the most affordable among the evaluated locations with rents around 5.60 €/m2.