The increase in housing prices in Lanzarote does not stop. This is revealed by the latest report from the Idealista real estate portal with data from last June.
Yaiza continues to be the region of Lanzarote where the price of land is growing the most. The square meter is 20.1% more expensive than a year ago. The southern municipality has recorded consecutive historical highs since December 2021, only suffering a slight decrease in November 2022.
To buy a house in Yaiza, the average investment is 3,171 euros per square meter throughout the municipality, where there are towns with different locations such as Uga, La Degollada, Femés or the most touristy Playa Blanca.
In Yaiza, the threshold of 3,000 euros was exceeded since March of this year. If we compare it with just seven years ago, in June 2016, buying a home in the municipality cost 1,676 euros per square meter, now 3,171 euros.
In this line, in Teguise, the value of land for sale is 3.6% higher than in June 2022. According to Idealista data, the historical maximum obtained in this town was recorded in February 2023, where the price was around 2,261 euros per square meter.
In particular, the district of Costa Teguise, the most touristy in the municipality, is more than 200 euros above the average price of the rest, close to 2,500 euros per square meter.
In Tías prices grew by 5.4% in the last year, being already 2,712 euros per square meter. The highest price of land in this municipality was recorded in February. For this reason, compared to last May (-0.5%) or the previous quarter, in March (-3.6%) a decrease in price is observed.
With a rapid evolution, buying a home in Haría is 12.8% more expensive than it was just a year ago. Prices in the northern municipality do not stop growing and suffer an increase of 3.3% compared to May of this year. At this time, the value of the land is around 1,961 euros per square meter.
The only municipality that decreased compared to 2022 was San Bartolomé, with 9.3%. This area of the island reached 2,159 euros per square meter in December 2022, its peak, but now the average price in the town is around 1,894 euros.
In conclusion, Arrecife, the capital of the island, has the cheapest housing prices in Lanzarote. In total, 1,491 euros per square meter is what it costs to get a house in this area. Also in the city there is a rise in costs, being 8.4% more expensive than in June of last year. This figure rises to 1,833 euros in the city center, with a 11.7% increase, and decreases below the average as it advances towards peripheral neighborhoods.
For its part, the municipality of Tinajo, which reached its peak in May of 2023, does not record data for June.
