The most expensive places to rent a beachfront flat this summer are in the Mallorcan areas of Santanyi and Puerto Pollensa, as well as in Ibiza, where prices are over 3,000 euros a week, according to data from the Tecnitasa valuation group. Renting a beachfront flat is almost 10% more expensive than last year with average rates of 1,160 euros per week, compared to 1,055 last year, while the outlay for this summer is 105 euros more on average than in 2023.
According to the report, the cheapest, at 500 euros per week, is in the Valencian Community.
Prices have risen the most compared to last year in Cantabria, where they have increased by more than 12%. Las Palmas, Santa Cruz de Tenerife and Lugo have also seen rises of 12%. One of the communities where prices have changed the least, a little more than 200 euros between the most expensive and the cheapest, is Asturias.
On the other hand, according to the Tecnitasa Group study, the communities with the greatest difference in price between the most exclusive and the cheapest, with prices exceeding 2,000 euros per week, are Galicia, Andalusia and the Balearics. According to the firm, the increase in the last three years is around 25%.
Last year, Mallorca holiday rental bookings were highest in Spain. According to a study by Rentalia, the Idealista property website’s holiday rentals section, August bookings in Mallorca’s coastal areas hit 99.5%. This was well above the average for all coastal destinations in Spain, which was 84.3%. The Rentalia definition of coastal area is up to fifteen kilometres inland. Second behind Mallorca was Menorca with 97.3%. Then came Malaga with 91%, Lanzarote 90.8% and Asturias 90%.
But, uncontrolled tourist rentals is considered one of the main threats, if not the main one, to the sustainability of tourism. With tourism having recovered from the pandemic, Spain registered a record year for tourism in 2023, the increase in tourist arrivals for the whole country in fact almost having matched the increase for the Balearics. However, the revival and growth have merely accentuated concerns about 'saturation' and a consequent social rejection of tourism. An issue at national level, it is an especially acute one in Mallorca and the Balearics.