By ACN
The president of the Provincial Federation of Construction Entities of Santa Cruz de Tenerife (Fepeco), Antonio Plasencia, assured this Wednesday that the evolution of housing prices in the Canary Islands during 2005 has been "quite moderate" because the rise that has occurred in recent times "is slowing down".
Plasencia, in statements to ACN Press, also stated that he hopes that "in a year or two it will not continue to rise" the value of housing, but that it will "stabilize completely". However, he clarified that the situation in the Islands is different from that of other places in Spain, because it is a "very small territory where the need for land is quite large and there is great competition".
Antonio Plasencia stated that although in Santa Cruz de Tenerife the price of housing "is quite high", it is less so than in Las Palmas de Gran Canaria. For the president of Fepeco, these high values per square meter in the capital of Tenerife - which is around 1,800 euros per square meter - are due to the scarcity of land due to the General Urban Planning Plan not having been approved, and the increase in the quality of life of citizens.
