tenerife second hand house prices rise tacoronte los realejos

Tenerife Property Boom: Tacoronte and Los Realejos Lead Price Surge

Record Prices for Second-Hand Homes Across the Canaries

The price of second-hand housing in the Canary Islands has increased by 10.5% over the last year, reaching €3,269 per square metre according to the latest index from property portal Idealista. This figure represents a quarterly increase of 3.8% and places the Archipelago at its highest price point since the platform began keeping records.

Tenerife’s Hotspots: Tacoronte and Los Realejos Soar

The price rise extends across both Canary Island provinces. Within the province of Santa Cruz de Tenerife, the sharpest increases for used property have occurred in Tacoronte, with a dramatic rise of 35.4%, and in Los Realejos, where the increase reaches 29.2%. These two municipalities are the ones with the greatest price inflation on Tenerife among those analysed by Idealista. The provincial capital is also seeing significant growth, with Santa Cruz de Tenerife recording an 18.9% annual increase, bringing prices to €2,586 per square metre.

Price Variations Across Tenerife’s Municipalities

The statistics show only one price drop in the province, in Guía de Isora, where prices have fallen by 1.8% compared to the same period last year. In terms of absolute cost, Adeje remains the most expensive market in the province at €4,603 per square metre, followed by Guía de Isora at €4,207. At the opposite end of the scale, Icod de los Vinos is the most affordable municipality analysed, with prices at €1,473 per square metre.

Gran Canaria Province: San Bartolomé Tops the Table

In the province of Las Palmas, which includes islands like Gran Canaria and Lanzarote, prices have grown by 11.4% over the last twelve months to €3,012 per square metre. The largest increase was recorded in San Bartolomé (Lanzarote), where prices surged by 36.2%. This was followed by Santa Lucía de Tirajana (Gran Canaria) with a 29.2% rise, and Teror (Gran Canaria) with a 23.4% increase. Conversely, Tías and Yaiza, both on Lanzarote, were the only municipalities in this province where second-hand house prices fell, dropping by 2.7% and 1.8% respectively.

Most and Least Expensive Areas in the Eastern Isles

In Las Palmas de Gran Canaria, prices have risen by 11.2% to €2,678 per square metre. The most expensive municipality in the province is San Bartolomé de Tirajana in Gran Canaria, commanding €4,709 per square metre, while Gáldar, also on Gran Canaria, presents the lowest price at €1,311 per square metre.

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