The average price per square meter to buy a home in Arrecife is more expensive than ever and its price has increased by 16.5% in the last year to reach 1,762 euros, according to data from the real estate portal idealista.com.
However, there are large price differences between neighborhoods. If a 100 square meter house costs an average of 176,200 euros in the capital of the island, when looking at the data broken down by neighborhoods, there are large differences.
As expected, the most expensive apartments are located in the downtown area, where a 100-meter apartment currently costs an average of 215,000 euros. In addition, the apartments in the center are the ones that have revalued the most in the last year, a 17.3%.
Next, in the area of Valterra, La Vega and Las Salinas, (Idealista groups these three areas in the same real estate area), a 100-meter apartment costs an average of 176,100 euros, a price 10.9% higher than twelve months ago.
For the neighborhoods of Altavista-Titerroy-San Francisco Javier, Idealista calculates an average price of 159,600 euros for the same apartment. An area where prices have risen by 13.4% in the last year.
Finally, Idealista groups the houses of Argana and Maneje in a real estate area where a 100-meter apartment currently costs an average of 145,000 euros, 7.6% more than a year ago.
For the area of El Cable and La Concha, Idealista has not published data because it does not have enough properties to provide a rigorous calculation of average prices.
