The uncontrolled increase in housing prices continues to be an unsolved problem. In the case of Lanzarote, the municipalities where the tourist spots are located (Yaiza, Teguise and Tías) are the most expensive. However, the increase in the cost of housing already affects all the towns on the island.
The most expensive land on the island is in Yaiza, above the average price in the Canary Islands and the province of Las Palmas. Acquiring a house for sale in the southern municipality is 21.9% more expensive than a year ago, reaching 3,172 euros in May, the highest value recorded by Idealista.
According to the real estate portal, the price per square meter in the southern municipality far exceeds that of capital cities such as Santa Cruz de Tenerife or Puerto del Rosario. At the same time, it is lower than that of Las Palmas de Gran Canaria or tourist towns such as La Oliva (Fuerteventura) or Adeje (Tenerife).
Meanwhile, Tías is at 2,726 euros/m2, the second most expensive area on the island, with an increase of 6.5% compared to May 2022.
The third place in Lanzarote where it is more expensive to buy a home is Teguise, where the price is 2,231 euros/m2, 4.6% more expensive than a year ago.
According to Idealista, in the tourist area of Costa Teguise, prices rise to 2,458 euros per square meter, more than 200 euros difference. The prices of Puerto del Carmen or Playa Blanca do not appear broken down.
Below two thousand euros are the less touristy municipalities: San Bartolomé, Tinajo, Haría and Arrecife.
The fourth most expensive municipality is Haría, with 1,898 euros per square meter, reaching a growth of 11.3%. Prices in the northern municipality are the highest since the end of 2018 and the beginning of 2019.
The only municipality where sale prices are lower than a year ago is San Bartolomé, where it remains at 1,854 euros per square meter. This area is 11.3% cheaper than in 2022, being the fifth most expensive town.
At the same time, the price of housing in the town of Tinajo has increased by 31.9%, reaching 1,846 euros and reaching its historical maximum. This is revealed by the aforementioned source.
Arrecife prices by neighborhoods
Meanwhile, in Arrecife, the capital of the island, it is close to 1,462 euros per square meter. In addition, the portal offers data by areas within the capital of Lanzarote. In the district between Altavista, Titerroy and San Francisco Javier the average price is 6.9% more expensive than a year ago: 1,361 euros/m2.
This space reached its historical minimum with the construction crisis and cost 788 euros/m2 in 2013. Meanwhile, the Argana-Maneje area is 6% more expensive with a price of 1,315 euros.
The largest increase recorded in Arrecife occurs in the central district, up to 1,814 euros, 11.3% more expensive than in May 2022. After it, Valterra, La Vega and Las Salinas are 9.7% more expensive.
With these data, in total, the average price of land for sale in Lanzarote is 1,898.71 euros per square meter.
