Rental prices increase to pre-crisis levels

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RENTAL RISE: Playa de San Juan has some of the highest rents in Alicante City.

ALICANTE rental prices are reported to have recovered from the big drop experienced during the worst years of the crisis in the city.

According to the Observatory of Rental Housing from the Municipal Housing Board, rental prices have started to rise to values seen before the recession. By the fourth quarter of 2015, there was the highest average price in over four years.

At the end of 2015, the average monthly rent of homes in the city was €547. This figure dropped to €365 as the average rent of flats belonging to the Municipal Housing Board. 

The cheapest rent could be found in the area of Colonia Requena with the average price €180 a month. The most expensive two properties are located in Playa de San Juan and Cabo de las Huertas, which cost €1,350 a month to rent.

Regarding the types of homes offered, according to the study, 48 per cent have three bedrooms, 25 per cent have two, 13 per cent four bedrooms or more, and only 14 per cent of them are one-bedroom studios.

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