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Canary Islands house prices rose 4% in the fourth quarter of 2018 to 1,484.8 euros/m2

Canary Islands house prices rose 4% in Q4 2018 to 1484 eur/m2

The average price of free housing in the Canary Islands rose by 4% year-on-year in the fourth quarter of 2018, reaching 1,484.8 euros per square meter, according to statistics on the assessed value of housing published by the Ministry of Public Works.

By provinces, in Las Palmas it grew by 3.2%, to 1,574.5 euros/m2, while in Santa Cruz de Tenerife the increase was 4.9%, reaching 1,394.5 euros/m2.


In the whole of Spain, the free home price rose 3.9% year-on-year, to 1,618.8 euros/m2. According to these data, the price of free housing has experienced a quarterly increase of 1.8%. After 26 quarters of year-on-year declines, started at the end of 2008, this figure represents the fifteenth consecutive quarter of nominal price rise.

In real terms, that is, discounting inflation, the price of free housing has increased by 2.2% compared to the same quarter last year.

By autonomous communities, it can be seen that fourteen of them have experienced year-on-year growth, especially Madrid (8.1%), Catalonia (5.8%), La Rioja (4.8%), Andalusia (4.2%), Canary Islands (4%) and Valencian Community (3.7%).

On the other hand, four of them have shown interannual declines, the most notable being Asturias (-1.4%), Murcia (-1.3%), País Vasco (-0.5%) and Castilla y León (-0.1%).

According to the historical series of the statistics, the average value per square meter of the fourth quarter of 2018 is 23% lower than that registered in the first quarter of 2008, when maximums were reached.

On the other hand, from minimums, which were reached in the third quarter of 2014, the price has recovered by 11.2%. In real terms, taking into account the change in the CPI, the current price reflects a drop from 33% maximums.

The average value of the square meter of free housing of up to five years old stood at 1,845.5 euros in the fourth quarter of 2018. This, according to development, represents an increase over the same quarter of 2017 of 2.3% . On the other hand, free housing for more than five years registered an increase of 3.9%, to 1,611.7 euros/m2.

For municipalities with more than 25,000 inhabitants, the highest prices for free housing were presented in San Sebastián (3,590.9 euros per square meter), Ibiza (1,537.4 euros) and Barcelona (3,362.8 euros).

It is followed by the towns of Sant Cugat del Vallès (3,331.1 euros, Santa Eulalia del Río (3,224.8 euros), Madrid (3,103.8 euros), Pozuelo de Alarcón (3,091.4 euros) and Majadahonda (3,020.6 euros).

On the opposite side, the lowest prices in municipalities with more than 25,000 inhabitants were registered in Elda (574.8 euros per square meter), Jumilla (593.4 euros), Puertollano (599.1 euros), Villena (603 euros), Villarrobledo (606.4 euros) and Caravaca de la Cruz (607.9 euros).

In relation to the protected housing in Spain, the average price per square meter in the fourth quarter of the year stood at 1,127.1 euros, which is a drop of 0.1% over the same period of the previous year.

On the other hand, the number of real estate appraisals used to calculate the house prices was 137,424.