The constant increase in the price of housing for sale is a puzzle for those families who want to acquire their first property in Lanzarote. According to data from the real estate portal Idealista, the cost of a house on the island has reached its historical peak and acquiring a property is more expensive than ever.
With data from January of this year, compiled by the Lanzarote Data Center, on average a house on the island costs 2,655 euros per square meter. Or what is the same, 325 euros more (14.04%) per square meter than a year ago. In addition, 705 euros more (36.2%) than three years ago, when in January 2022 an average of 1,950 euros per square meter was paid. This means that currently for a 60 square meter apartment, around 159,300 euros are paid on the island. Meanwhile, a 100 square meter house would cost 265,500.
The most expensive tourist municipalities
The most touristy municipalities of Lanzarote, Tías, Yaiza and Teguise, concentrate the most expensive prices. Since July of last year, Tías has replaced Yaiza as the municipality on the island with the most expensive housing prices. The municipality of Tías already registered its highest historical price last December. Currently, acquiring a home costs 3,622 euros on average (26.5% more than a year ago) per square meter. So, for a 60 square meter apartment, 217,320 euros are paid and for a 100 square meter house, 362,200.
In second place, in Yaiza it costs 3,566 euros (3.8% more) per square meter than in January 2024. The southern municipality also reached its historical maximum last December.
The third municipality on the island with the highest prices is Teguise, where an average house costs 2,593 euros per square meter (11.4% more than a year ago). This municipality reached its historical maximum last December. Meanwhile, the tourist town of Costa Teguise is located at 3,257 euros per square meter (26% more than a year ago).
Haría, the municipality where the price decreases
Likewise, the municipality of San Bartolomé is already at 2,129 euros (2.4 more than a year ago) per square meter. The historical maximum of this municipality was reached in October 2024, when the average price cost 2,165 euros per square meter.
The municipality of Haría is the only one that breaks with the upward trend of the rest of the towns. Currently, a home in the town costs 2,006 euros per square meter (5.3% less). The northern town reached its historical maximum in July 2024, when it was worth 2,149 euros per square meter.
Finally, in Arrecife the average price costs 1,927 euros per square meter (18.4% more than a year ago and 32.2% more than two years ago). By localities, the center of the capital is where a home costs the most, 2,326 euros per square meter; followed by the neighborhoods of Valterra, La Vega and Las Salinas, which are over 1,917 euros per square meter; and Altavista, Titerroy and the San Francisco Javier neighborhood, over 1,806 euros per square meter.
Finally, in the municipality of Tinajo the latest data analyzed corresponds to December 2024. At that time, the municipality had been located at 1,700 euros per square meter (with an annual decrease of 10.3% of the price). The historical price was recorded in October 2023, when it reached 2,009 euros per square meter.
