Used housing in the Canary Islands rises 25% in one year, the largest increase in the country

The average price per square meter of a second-hand home in the archipelago reaches 2,383 euros

EKN

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EKN

November 2 2023 (10:43 WET)
Houses in Yaiza. Photo: José Luis Carrasco.
Houses in Yaiza. Photo: José Luis Carrasco.

In October, the price of used housing in the Canary Islands rose by 0.7% but accumulates a 25.4% increase in the last twelve months, bringing the average price to 2,383 euros per square meter in October.

The price of used housing in the Canary Islands is 10.4% above the average price in Spain, which marked 2,159 euros per square meter, according to data from the Fotocasa Real Estate Index.

The order of the year-on-year increases in the Canary provinces is 33.6% in Santa Cruz de Tenerife and 14.3% in Las Palmas.

Unlike other months, in which increases of more than 10% occurred in six communities, in October it is reduced to three: Canary Islands (25.4%), Balearic Islands (18.3%) and Navarra (12.4%).

They are followed by the communities of La Rioja with 9.6%, Comunitat Valenciana with 8.6%, Region of Murcia with 8.0%, Andalusia with 6.8%,
Madrid with 5.8%, Asturias with 4.8%, Cantabria with 4.7%, Aragon with 4.5%, Catalonia with 4.3%, Basque Country with 3.5%, Extremadura with 3.1%, Galicia with 2.8%, Castilla-La Mancha with 2.5% and Castilla y León with 2.0%.

Regarding the ranking of Autonomous Communities with the most expensive square meter in Spain, we find Balearic Islands and Madrid, with prices of 3,805 euros and 3,577 euros respectively.

Followed by Basque Country (3,038 euros), Catalonia (2,762 euros), Canary Islands (2,383 euros) and Navarra (2,044 euros).

The regions with the cheapest square meter in the country are: Murcia (1,260 euros), Extremadura (1,207) and
Castilla-La Mancha (1,182 euros).

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