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Canary Islands show a trend towards the stabilization of housing prices
By: Sven Grossenbacher Published: Wed, May 12th 2010, 17:28
The price of a resale property in the Canary Islands with a dimension of 80 square meters is 144.560 € on average, since in April the average price per square meter stood at 1807 €, according to the housing index.
The average price of housing in the Canary Islands in April fell 0.3 percent compared to March this year, while reducing on-year rises to 6.7 percent.
Thus, the Canary Islands have the smallest drop in prices recorded during the last year, which shows a clear trend towards stabilization of prices.
The two provinces Las Palmas and Tenerife recorded declines in the prices of properties for sale, with a cut of 0.2 percent for Las Palmas and a little higher at 0.4 percent for Santa Cruz de Tenerife.
Las Palmas is the most expensive province to buy a home, with the price per square meter of 1833 €, while in the western province the average price stands at 1774 € per square meter.
Four of the seven canarian cities analyzed revalued the price in April, such as Ingenio (+2.7%), Las Palmas de Gran Canaria (+1.3%), Arucas (+0.9%) and Telde (+0.3%). The three remaining cities recorded decreases in the price of housing, namely a reduction of 0.2% in Santa Cruz de Tenerife, a 0.3% in San Cristobal de la Laguna and a 1.7% in Santa Lucia de Tirajana.
Las Palmas de Gran Canaria is the most expensive and Santa Lucía de Tirajana the cheapest city in the Canary Islands. In Las Palmas de Gran Canaria the housing price stands at 2056 € per square meter in Santa Lucía de Tirajana the average cost of a home is 1414 € per square meter.
In the following cities the examined prices per square meters are: 2005 €/m2 in Santa Cruz de Tenerife, 1749 €/m2 in Arucas, 1680 €/m2 in Telde, 1673 €/m2 in San Cristobal de la Laguna and in 1532 €/m2 Ingenio.