Rent Continues to Surge in Alicante with Prices Soaring in Carolinas and El Pla in May

Another month brings yet another rise in rental prices. Costs continue to climb with no decrease in sight. High demand and limited supply keep pushing up monthly rent costs, with neighbourhoods like El Pla and Carolinas seeing a significant spike in rental prices.

In fact, the areas of San Antón, El Pla, and La Goleta overtook the Centre in April and are now the second most expensive areas, with rents around 13.3 euros per square metre. This marks a new increase of 2.6% in May and nearly 20% compared to the same month last year, according to data from the real estate portal Idealista.

Rental prices in Alicante have been rising since January, with another increase recorded in the city, reaching 12.2 euros per square metre, 1% more than in April and 8.6% higher than the same month last year.

While in 2024, the price of a 100 m2 home was 1,130 euros per month, the current average cost has surged to 1,220.90 euros each month, amounting to an additional 1,080 euros annually, according to Idealista's data.

The situation is particularly severe in the El Cabo area and San Juan beach, where rental prices remain at their peak, reaching 14.6 euros per square metre, nearly 10% more than in May 2024. Here, the average cost of a 100 m2 apartment is 1,460 euros, skyrocketing if it's near the coast.

Prices continue to rise in areas that were previously lower on the list of the most expensive zones. Now, El Pla exceeds 13 euros per square metre and has overtaken the Centre as the second most expensive neighbourhood, with a 19% year-on-year increase this May. In fourth place are Carolinas, Campoamor, and Altozano, which at 11.4 euros per square metre surpass neighbourhoods like Vistahermosa, San Blas, or PAU I and II.

According to data published this Monday by Idealista, up to four neighbourhoods and areas in Alicante have reached new highs this May, while all analysed areas show increases. The most notable is El Pla, where prices have grown nearly 20% year-on-year, followed by Juan XIII and Virgen del Remedio, which have risen by 16.6% and remain at 10 euros per square metre.