If a year ago the square meter in the downtown area of Arrecife was at 1,823 euros, currently it already reaches 2,251 euros at the close of August, which is equivalent to an increase in prices of 23.5%, according to the latest price index from Idealista.com.
That is, if an apartment of one hundred square meters in the center of Arrecife cost on average 182,230 euros a year ago, now a total of 225,100 euros is requested for it, which is equivalent to 42,870 euros more.
Prices in the center are growing much faster than in other neighborhoods such as Argana and Maneje, where prices have barely risen 3.4% compared to last year and where the square meter is at 1,433 euros on average.
Only in the last month, prices grew by 0.5% on average in the city, but among the homes in the center the increase was 2.3%.
If the behavior of prices in the entire city is analyzed, prices have risen by 17% in a year to mark an average price of 1,770 euros per square meter.
The increase in twelve months is in line with the average growth of prices in the Canary Islands as a whole, which stood at 16.8%.
