Holiday Rental Prices Increased

The average price of renting a beachfront holiday apartment this summer has risen by 7% according to the annual report from TecniTasa.

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The news is considered another indication of recovery of the economic situation in Spain with the average weekly rent now standing at 595 euro, compared to 552 euro in 2014.

Playa dén Bossa in Ibiza is the most expensive place to rent an apartment at 1,680 euro per week, whereas the cheapest is in Lugo, which costs around 200 euro per week.

One of the biggest increases in Spain has been Torrevieja, where rental rates have increased by 23% compared to last year, although with disposable income not increasing quite in line with that increase, it is feared that many Spanish families will choose alternative, cheaper destinations.