The Fotocasa Real Estate Index reveals that housing prices in the Canary Islands are at all-time highs at the moment, in the case of used housing, 10% above the previous highs reached during the real estate bubble.
“The cost of housing is once again reaching record figures with the largest acceleration in the last 17 years. We had never detected such a large price increase in such a short period of time," explains María Matos, Director of Studies and Spokesperson for Fotocasa.
According to Matos, This rise takes us back to 2006 levels, prior to the real estate bubble when the cost of housing suffered a great warming, explains María Matos, Director of Studies and Spokesperson for Fotocasa.
The archipelago closes September 2023 reaching the maximum sale price with €2,366/m², 9.8% above the price recorded during the 2007 real estate bubble and showing the highest rental price in its entire historical series with €12.98/m².
In the purchase and sale market, the Canary Islands is the second autonomous community, after the Balearic Islands, to have reached maximums with an increase of 25.2% year-on-year, it is the highest increase detected in the entire historical record, which recalls the period of warming prior to the real estate bubble. However, the trend of accelerating growth is becoming increasingly large.