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03-11-2022, 07:01 PM
Noticias:
The price of housing rises by 6.6% in the islands in a year.
The Canary archipelago continues to be a refuge for European upper-middle income capital seeking investment in housing, whether for exploitation, first or second residence.
In this sense, the price of used housing in the Canary Islands has grown by 6.6 percent in October compared to the same month of 2021, when the average cost per square meter stood at 2,061 euros, being its historical maximum, according to data published by idealista.
Young people in distress
The increase in housing prices on the islands, together with the rise in the price of Money through European monetary policies, are conditions for keeping young Canarians away from the real estate market. It is increasingly difficult to face the rental or purchase.
"The low salaries associated with the tourism industry are turning the next generation into pariahs of housing since in addition the ownership of land, traditionally in island hands, has been changing hands in the last 30 years," says Ángel Gris, a sociologist from Lanzarote.
The rise of the holiday
The market, in addition to being expanding thanks to foreign capital, is also stressed by the large number of homes that have left long-term rental to join holiday rentals, which makes housing inaccessible especially in tourist areas.
The price of housing rises by 6.6% in the islands in a year.
The Canary archipelago continues to be a refuge for European upper-middle income capital seeking investment in housing, whether for exploitation, first or second residence.
In this sense, the price of used housing in the Canary Islands has grown by 6.6 percent in October compared to the same month of 2021, when the average cost per square meter stood at 2,061 euros, being its historical maximum, according to data published by idealista.
Young people in distress
The increase in housing prices on the islands, together with the rise in the price of Money through European monetary policies, are conditions for keeping young Canarians away from the real estate market. It is increasingly difficult to face the rental or purchase.
"The low salaries associated with the tourism industry are turning the next generation into pariahs of housing since in addition the ownership of land, traditionally in island hands, has been changing hands in the last 30 years," says Ángel Gris, a sociologist from Lanzarote.
The rise of the holiday
The market, in addition to being expanding thanks to foreign capital, is also stressed by the large number of homes that have left long-term rental to join holiday rentals, which makes housing inaccessible especially in tourist areas.