The price of used housing in the municipality of Yaiza has increased by 7.4% in the last quarter, with the square meter at 2,635 euros, according to the latest Idealista price index.
Not only is it its historical maximum, rising 2.8% compared to the previous month, but it registers the largest increase in the province of Las Palmas during this spring.
As for the rest of the municipalities of Lanzarote, the capital marks a figure of 1,368 euros per square meter, 1.1% more monthly and 3.6% more compared to March. Prices also continue to increase in Tías, which marks a cost of 2,593 euros, 0.6% more monthly and with an increase of 2.7% quarterly.
For its part, Tinajo has experienced a change in trend and is rising again this month of June, with a price of 1,463 euros per square meter, 4.5% more than in May, although it decreases by 9.4% compared to the previous quarter.
On the opposite side are Teguise, San Bartolomé and Haría, which have seen their prices fall in the sixth month of the year. Specifically, prices in Teguise decrease by 0.2% compared to May, with an average cost of 2,130 euros, but are 2.3% higher than in March 2022.
In San Bartolomé they fall monthly by 0.8% to 2,073 euros, but grow by 0.1% if compared to the previous quarter. Finally, the cost of housing in Haría decreases to reach 1,725, 0.3% less than in May and 0.7% more than in March.
The archipelago also registers maximums
Meanwhile, in the Canary Islands as a whole, prices climb 2.2% in the last quarter, the highest figure recorded in the Canary Islands, with the square meter at 2,009 euros and, in year-on-year terms, the increase is even greater, reaching 6.2%.
And it is that both Canary provinces have had an upward behavior during the spring, since prices rose 1.7% in Las Palmas, to 1,990 euros per square meter and 2.5% in Santa Cruz de Tenerife, with a cost of 2,022 euros, which represents the highest price of this last province in the historical series.
In the municipalities of the province of Santa Cruz de Tenerife, the capital has experienced a price increase of 9.3% during the last three months. However, the largest increases are those of Buenavista del Norte (21.6%) and Santa Cruz de la Palma (16.3%).
"After an extraordinarily positive 2021 and the beginning of 2022, it seems that the euphoria is slowing down. The strong demand experienced in the last year has drained the second-hand market and new construction visas are growing very slowly due to administrative bureaucracy and the scarcity of materials and labor", points out Francisco Iñareta, spokesman for Idealista. "All this means that prices are slowly tightening, especially in some markets, such as the two archipelagos".
Generalized increases throughout the country
However, this is not a situation that is limited to the Canary archipelago, but the price of used housing has also been 2.8% in the rest of Spain during the second quarter of the year. This increase has left the square meter at 1,876 euros, 3.3% more than last year at this time.
Only ten capitals have managed to reduce their prices during the spring, although only Bilbao (-0.9%) can be considered part of the large real estate markets. The largest fall occurred in Cuenca (-11.8%), followed by Cáceres (-2.1%), Toledo (-1.6%), Soria (-1.3%), Bilbao, Palencia (-0.5%), Tarragona (-0.4%), León (-0.2%), Lugo (-0.2%) and Murcia (-0.1%).
The largest increase occurred in the city of Ceuta, where prices grew by 11.2% in these three months. They are followed by the climbs of Santa Cruz de Tenerife (9.3%), Pamplona (8.4%) and Guadalajara (7.6%).
Regarding future expectations, Iñareta warns that "the decrease in the purchasing power of buyers and the increase in the cost of mortgages could curb this appetite for buying in the second part of the year, slowing down the closing of operations and relaxing prices".
