The price of new properties continues to rise in the Canary Islands

The price of new property in the Canary Islands increased by 5.7% in June compared to the same month of last year, standing at 1,785 euros/m2, and by 2.4% in the first six months of this year compared to 2022, according to data from the Sociedad de Tasación, the Association of Valuers.

Las Palmas, the capital of Gran Canaria, is the area with the highest average price for new properties reaching 1,885 euros/m2, surpassing Santa Cruz de Tenerife, where the average price is now 1,599 euros/m2.

However, Santa Cruz has registered the highest price increase over the last year of 6.1%, while Las Palmas prices have gone up by 5.5%.

Among the most prominent municipalities, in addition to Las Palmas and Santa Cruz, are the tourist municipalities of San Bartolomé and Mogán in Gran Canaria with average prices of 1,829 euros/m2 and 1,803 euros/m2, respectively.

The two municipalities that have experienced the highest price increases over the last year are Arona (Tenerife) and Arrecife (Lanzarote), with 7.0% and 6.8% respectively.