Homes for sale in the Canary Islands are reduced by up to 30%

The reduction in the supply of homes during the first quarter has been greater in the province of Santa Cruz de Tenerife than in that of Las Palmas

April 28 2023 (12:36 WEST)
The average price of housing has fallen by 7.9% in the Canary Islands in one year. Aerial view of Arrecife.
The average price of housing has fallen by 7.9% in the Canary Islands in one year. Aerial view of Arrecife.

 The number of homes for sale has decreased by 30% in the province of Santa Cruz de Tenerife and 14% in that of Las Palmas during the first quarter of the year compared to the same period of 2022, according to data handled by the Idealista real estate portal.

In the two capitals of the islands, the drops in the number of homes for sale are 18% in Santa Cruz de Tenerife and 12% in Las Palmas de Gran Canaria.

In all of Spain, the drop is 5%. This drop represents an acceleration of the rate recorded at the end of last year, when the available supply decreased by 3%.


Among the large cities, only the supply in Madrid and Bilbao grows

The housing "stock" has contracted in the first three months of the year in a total of 41 capitals. The largest reduction has been recorded in Ceuta (-42%); Cuenca (-40%); Ávila (-29%) and Huelva (-26%).

Among the large markets, the largest drop has occurred in Alicante (-25%); followed by Valencia (-20%); Palma (-16%); Barcelona (-11%); Malaga (-9%) and Seville (-2%).

On the contrary, Madrid (4%) and Bilbao (6%) have been the only two large cities in which the supply has increased.
 

Behavior at the provincial level

Santa Cruz de Tenerife has registered the largest drop in supply, with 30% less than a year ago. Next were Cuenca (-25%); Ávila (-18%); Valencia (-18%); Segovia (-17%) and La Coruña (-15%).

In the province of Barcelona, the supply decreased by 1%, while in Madrid it grew by 4%.

Among the largest increases in the housing "stock", the case of Córdoba stands out, where it has increased by 15%, followed by Granada (12%); Albacete (3%); Vizcaya (2%) La Rioja and Álava (1%, respectively).

In Ciudad Real, Murcia and Zamora, the supply has not registered variations in the last year. 

Most read