The price of second-hand housing in Canarias closes 2024 with an annual increase of 13% and places the December price at €2,736/m2, according to data from the report “Second-hand housing in 2024” prepared from the Fotocasa Real Estate Index.
But the behavior of prices varies greatly depending on the municipality. Thus, while Arrecife is the Canary capital where prices rose the most, specifically 20.4%, other municipalities in the archipelago have seen their prices reduced during the past year.
Prices only rose more than in the Lanzarote capital in Icod de los Vinos, (53.4%), San Miguel de Abona (25.4%) and Santiago del Teide (21.1%).
On the other hand, there are also municipalities in Canarias where prices have been reduced during 2024. This has happened in La Orotava with a fall of 6.6% during 2024, followed by Arucas, where prices fell by 5.5%, Candelaria, with a decrease of 2.1% and La Oliva (-1.5%).
In December 2024, seven cities exceed 3,000 euros/m² and they are: Adeje with 4,629 euros/m², Guía de Isora with 4,100 euros/m², Mogán with 3,910 euros/m², Santiago del Teide with 3,819 euros/m², Arona with 3,503 euros/m², San Bartolomé de Tirajana with 3,279 euros/m² and Puerto de la Cruz with 3,091 euros/m².
At the other extreme, Santa María de Guía de Gran Canaria (Las Palmas) is the cheapest municipality to buy a second-hand home with 1,387 euros/m², followed by Arucas with 1,417 euros/m² and Ingenio with 1,489 euros/m².
At the autonomous community level, Canarias registers the fifth largest increase in prices. Above are the Valencian Community (19.8%), the Balearic Islands (19.5%), Madrid (13.6%) and Murcia (13.6%).
With increases lower than those registered in Canarias are Andalusia (12.1%), Galicia (10.0%), Asturias (8.9%), Cantabria (8.0%), the Basque Country (6.3%), Extremadura (3.9%), Castilla y León (3.8%), Navarra (2.8%), Castilla-La Mancha (2.7%) and Cataluña (2.3%).
Thus, the Balearic Islands, which exceeds 4,000 euros/m² since April 2024, ranks first in the ranking of the most expensive with 4,597 euros/m².
It is followed by Madrid, which with an average price in December of 4,278 euros/m², has exceeded the barrier of 4,000 euros/m² in March. It is followed by the Basque Country with 3,284 euros/m² and Cataluña with 2,824 euros/m².
