Sociedad de Tasación, in a new edition of its Housing Market Study of the Balearic and Canary Islands, places the interannual increase in house prices in the Canary Islands at 2.9% and in the Balearic Islands at 2.7%. In addition, it reports an average price per square metre of €2,229 in the Balearic Islands and €1,435 in the Canary Islands. By province, the average price is €1,505/m2 in Las Palmas de Gran Canaria and €1,361/m2 in Santa Cruz de Tenerife. The Spanish average stands at €1,681/m² with an annual and semi-annual increase identical to that of Las Palmas de Gran Canaria.
The report not only records a year-on-year increase, but also a positive variation in house prices during the first half of 2020, of 0.9% in the Balearic Islands and 1.1% in the Canary Islands. That increase ranks the Mediterranean archipelago as the fourth most expensive province for buying a home (€2,229 / m²), behind only Guipúzcoa (€2,524/m²), Madrid (€2,630/m²) and Barcelona (€2,743/m²).
Read the full article in Spanish.
