Rent Sets New Record in Alicante with Centre, Carolinas, and Altozano Leading Price Surge

Once again, rental prices are on the rise in the city of Alicante. The cost per square metre closed October with a new record, reaching €13 for the first time, a 0.7% increase from September and a 7.4% rise compared to the same month last year, according to data from the real estate portal Idealista, published this Monday.

The price per square metre for rent is nearly double compared to five years ago when the relentless price increase began. Now, an 80-square-metre flat costs an average of €1,050 in Alicante, compared to less than €600 in 2020.

All neighbourhoods and districts of Alicante analysed by Idealista show year-on-year increases, although only one reaches double digits. This is the case of the centre, where prices have increased by 12% in a year. It is followed by the areas of Carolinas, Campoamor, and Altozano, with a 9.7% increase compared to October 2024.

The price per square metre in these areas is now €11.7, higher than in neighbourhoods like Benalúa, San Blas, PAU I and II, and Babel. In these areas adjacent to the centre, an 80-square-metre flat costs €936 per month, almost €91 more monthly than last year.

Regarding the most expensive neighbourhoods, the centre and San Juan beach continue to rise. In fact, the centre now reaches €13.5 per square metre and average rents of nearly €1,100 for an 80-square-metre property. The situation is even more severe if one wants to rent a flat in the historic centre and Santa Cruz area, where prices approach €17/m2 after a 26% year-on-year increase.

Meanwhile, in the Cabo and beach area, with €14.6 per square metre, properties soar above €1,168 monthly, with different areas like Albufereta or Costa Blanca Avenue exceeding €1,230 per month.

As for rental in the province, it stands at €11.8 per square metre, the same figure as in September and 9% more than in October 2024, according to Idealista data. Among the most expensive locations are Benidorm, at €16/m2; Finestrat, at €15.3/m2; and Alfaz del Pi, at €15/m2. On the other end, Alcoi leads the lowest rents with €7.4 per square metre, followed by Elche and San Vicente, with less than €10 per square metre.