Uneven evolution of housing prices in Lanzarote by municipalities

A house in Yaiza costs 22.7% more than a year ago and in San Bartolomé 4.4% less

EKN

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EKN

November 5 2022 (08:46 WET)
Updated in November 5 2022 (08:53 WET)
Austria Street in Montaña Roja, Yaiza.
Austria Street in Montaña Roja, Yaiza.

In the last twelve months, the behavior of housing prices in Lanzarote shows great differences between municipalities.

The greatest contrast is observed in the municipalities of San Bartolomé and Yaiza. In the first, the square meter cost 2,081 euros in October of last year, while currently it stands at 1,991, which represents an interannual drop of 4.4%.

In Yaiza, on the other hand, the square meter cost 2,296 euros in October 2021, now it costs 2,816 euros, which represents an increase in prices of 22.7%. If it continues to grow at this rate, prices in Yaiza could exceed the barrier of 3,000 euros per square meter next year.

In general, the year-on-year growth in housing prices has been positive in all municipalities of Lanzarote with the exception of the aforementioned case of San Bartolomé and also Tinajo, where a house currently costs 1.5% less. The price per square meter in Tinajo averages 1,543 euros.

After Yaiza, the municipality that has experienced the greatest growth in prices has been Tías, where prices have risen by 10.4% in a year, so that the square meter currently costs 2,693 euros.

The third place is for Haría, which registers year-on-year increases of 8.1% on average. The price per square meter in this municipality is currently 1,767 euros.

The growth in prices has been more reduced in Teguise and in Arrecife, where in a year the cost per square meter has increased by 5.6% and 5.4% respectively. Thus, the square meter costs today on average in Teguise 2,193 euros, while in Arrecife its price is 1,409 euros.

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