The residential rental market in Alicante province closed 2024 with its strongest price increase in recent years, marking a decade of uninterrupted growth. According to the experimental Housing Rental Price Index (IPVA) published by Spain’s National Statistics Institute (INE), Alicante ranks among the provincial capitals with the highest rent increases since 2015. This trend reflects widespread rental price growth across nearly all municipalities with populations exceeding 10,000 inhabitants.
Rental Growth Trends in Alicante Province
Across the Alicante province, the IPVA reached 124.481 points in 2024, using 100 points in 2015 as the baseline. This represents a cumulative increase of 24.5% since 2015 and 25% compared to 2014. The annual rise of 4.6% recorded in 2024 is the highest observed during the entire period under review.
The city of Alicante itself outpaced the provincial average, ending 2024 with an index of 127.5 points. This equates to a cumulative growth of 27.5% since 2015 and 28.2% compared to 2014. The annual increase of 5.1% places Alicante among the top provincial capitals in Spain for rental price growth, surpassed only by Valencia (5.9%) and Málaga (5.2%).
Regionally, the Valencian Community led Spain in rental price increases in 2024, with a 5% rise, ahead of the Balearic Islands and Andalusia. The INE also reported rent increases across all autonomous communities.
Municipal Rental Price Dynamics in Alicante
Every municipality in Alicante with over 10,000 residents saw rental price growth in 2024. Almoradí recorded the highest increase at 5.5%, followed closely by Alicante and San Vicente del Raspeig at 5.1% each. Elche and Santa Pola both experienced 5% growth, with Altea at 4.9%, and Torrevieja and Castalla each rising by 4.8%.
The highest cumulative rental indices are found in Alicante’s suburbs and some coastal towns. San Juan leads with 131.7 points, followed by San Vicente del Raspeig (128), Alicante (127.5), Castalla (126.8), and Mutxamel (126.5). On the lower end, municipalities like Monóvar (114.6), Rojales (116), Cocentaina (117.2), Villena (118.1), and Callosa de Segura (118.7) still show growth above 2015 levels.
Popular locations also show strong rental price indices: Benidorm at 119.9, Calpe at 122.6, Dénia at 124.6, Elche at 126.4, Jávea at 123.1, Orihuela at 121.7, Torrevieja at 120.1, and Villajoyosa at 124.8.
Rental Price Variations by Housing Type and Size
The data reveals differences in rental price growth depending on housing type. Rents for apartments in multi-family buildings rose by 3.6%, while single-family homes saw a 3% increase.
Size also influences rental growth: since 2014, rents for homes up to 60 square meters have increased by 26.8%. Homes between 75 and 90 square meters experienced a 22.9% rise, and those larger than 150 square meters saw an 18.9% increase.
Understanding the IPVA Index
The IPVA is an experimental statistical indicator based on data from the Tax Agency and cadastral records. It measures the annual price dynamics of homes rented as permanent residences, rather than average market prices.
This index is compiled annually using information declared in personal income tax form No. 100. The methodology accounts for variables such as property location, surface area, building type, municipality size, lease duration, and year of construction. Since 2021, the indicator includes all rented residential properties declared during the financial year that were not listed in previous years.