Rental prices in the province of Alicante continue to rise, reflecting a year-on-year increase of eight point two percent in April, according to the Fotocasa Property Index. The average price in the Alicante capital has reached twelve euros and twenty-four cents per square metre, equating to approximately nine hundred eighty-one euros per month for an average eighty square metre flat. This trend occurs within a broader context of rising rental prices across the Valencian Community, which has seen a ten point three percent increase year-on-year.

Several municipalities within the province have registered significant rental price hikes. Orihuela leads the rankings with a remarkable increase of twenty-three point two percent, followed by Calpe at ten point seven percent and Alcoy at nine point three percent. Finestrat presently holds the title for the most expensive municipality in the province, with a rental cost of seventeen euros and six cents per square metre per month, closely followed by Benidorm.

With an average rental price of twelve euros and twenty-four cents per square metre, Alicante has become the second most expensive province in the Valencian Community, trailing only Valencia. This means that the average rental for a type of dwelling in the province sits around nine hundred eighty euros monthly, a price level that was previously only seen in major cities like Madrid and Barcelona.

The Fotocasa report warns that the rental market remains under high pressure, influenced by an ongoing imbalance between supply and demand. María Matos, the director of Studies at Fotocasa, highlighted that the lack of available housing coupled with a consistent growth in demand has led to an unprecedented accessibility crisis. This scenario is sustaining upward price trends, even in mid-sized tourist municipalities, exacerbated by the rise of vacation rentals and owners withdrawing properties from the residential market.