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Home Europa Press

The Canary Islands Authorities Doubt the Impact of Designating Adeje as a ‘Tensioned Area’ on the Housing Market

March 27, 2024
in Europa Press
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The Canary Islands Authorities Doubt the Impact of Designating Adeje as a ‘Tensioned Area’ on the Housing Market
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SANTA CRUZ DE TENERIFE, 26th March (EUROPA PRESS) –

Alfonso Cabello, speaking on behalf of the Government of the Canary Islands, expressed skepticism on Tuesday regarding the Adeje City Council’s request to be designated as a ‘tensioned area’, stating that this move would not have a significant impact on the housing sector.

In an official statement, he reaffirmed the effectiveness of measures already in place, such as the recent validation of the housing decree and the forthcoming legislation to regulate holiday rentals.

Cabello emphasized that addressing the housing challenge is a top priority for the Government of the Canary Islands, and that is why they have implemented a “substantial array of measures” in collaboration with local councils, municipalities, and private initiatives.

He believes that the combined effect of the housing decree and the upcoming regulation of holiday rentals will lead to an increase in long-term rental properties in the market in the near future.

With regards to Adeje’s specific situation, it was mentioned that a thorough analysis will be conducted upon receiving the formal request, as it may only have “declarative implications” or price recommendations. “So far, it has not proven to be beneficial to us,” he clarified.

The municipality in the south is seeking to determine, using official statistical data, whether its residents indeed allocate at least 30% of their income towards housing, as claimed by Adeje. Furthermore, they will assess if property prices or rentals have surged by more than 3 points above the CPI in the past five years, with the option to conduct this study within specific areas or population centres within the municipality.

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