Idealista, the leading real estate portal, has published the latest data on housing for sale in Lanzarote, where price growth has been the main feature since 2021.
Yaiza, which offers the most expensive houses on the island, reached its peak in August of this year. As such, accessing a property in the municipality averages around 3,220 euros per square meter. According to the aforementioned portal.
The southern municipality began this price boom from December 2021, with 2,357 euros per square meter. At that time, the price increase was 4.4% more than in the previous year. Since then, the cost of buying has grown uncontrollably until it exceeded the 3,000 euro barrier in March of this year.
While Tinajo does not present updated data. In Tías, housing for sale continues to become more expensive. So much so that buying a home in the municipality this summer was 8.5% more expensive than the previous year, and the previous summer was already more expensive than its predecessor.
In the municipality of Tías, it costs over 2,700 euros per square meter to own a property. Or, in other words, with these prices, an apartment of 45 square meters would exceed 123,000 euros.
The cost of housing has also worsened in the municipality of Teguise. In this case, it has been on the rise since May 2021. At that time, it was already 25 euros away from reaching 2,000 euros per square meter.
Currently, buying a home in Teguise in August meant paying 2,260 euros per square meter. This figure increases if the property is to be acquired in the tourist town of Costa Teguise and shoots up to 2,500 euros.
In the case of San Bartolomé, the increase in the cost of housing is not so constant, but rather suffers slight price drops and new increases. As such, a property currently reaches 2,011 euros per square meter, and two months ago, in June, it was around 1,894 euros per square meter.
The town of Haría has also experienced constant increases during the summer and has reached its historical maximum. The real estate portal reveals that acquiring a house in the north of the island involves investing 2,143 euros per square meter. This represents a growth of 19.3% compared to the previous year and 12.9% higher than in the previous quarter.
To conclude, the capital of the island, lacking data from Tinajo, becomes the area where housing is most affordable. Thus, it is around 1,513 euros/m2, the highest value recorded so far and since the economic crisis of 2008.
By neighborhoods, the center of Arrecife presents the most prominent cost, above 1,800 euros per square meter. After this area, Valterra, La Vega, and Las Salinas are located (1,586 euros/m2), followed by Argana and Maneje, Altavista, Titerroy, and San Francisco Javier, exceeding 1,385 euros per square meter.
