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rise continue housing prices

Housing prices continue to rise

The price of housing continues to skyrocket in the Canary Islands.

According to the National Institute of Statistics, prices rise by 8.1% in the islands in 2022.

The situation of house prices in the Canary Islands is becoming a real sword of Damocles for civil society as a whole, especially for young Canarians. In addition to the rise in prices, the lack of new works makes it difficult for workers who do not find profitability to access housing in allocating half of their salary to housing payments.

On the other hand, the increase in the price of Money, which according to all the economic sources consulted will not stop, continues to increase the price of mortgages, so the problem is chronic in islands such as Fuerteventura.
The price of free housing in the Canary Islands has grown by 8.1 percent in 2022, being the second community where the greatest rebound is registered, only preceded by Cantabria (+ 8.6%), according to the Housing Price Index (IPV) of the National Institute of Statistics (INE) published this Wednesday.
In the national set, the price of free housing rose an average of 7.4% in 2022, thus registering its ninth consecutive annual rebound and its largest increase since 2007, when the price increased by 9.8%, according to the regional newspaper Canarias 7.
The rise experienced in 2022 doubles that of 2021 (+3.7%) and is a consequence of both the acceleration in the prices of second-hand housing and new flats.
Thus, the price of new housing rose an average of 7.9% in 2022, its largest increase since 2007, when it increased by 11.9%. With last year's increase, the price of new housing accumulates nine years of increases.
For its part, the price of used housing increased by 7.3% in 2022, double that in 2021 and its largest rebound also since 2007, when it grew by 8.2%. With this rebound, used housing also accumulates nine years of increases.
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