Santa Cruz de Tenerife and Las Palmas de Gran Canaria are among the cities in the country with the greatest demand pressure on housing supply, according to a study by the real estate portal Idealista released on Monday.
Specifically, the two Canarian capitals rank sixth and seventh in this classification, led by Móstoles, the second largest city in the Community of Madrid, which has the highest demand pressure on housing supply for sale on idealista during the first quarter of 2024, surpassing Madrid for the first time.
Furthermore, according to Idealista, the Mediterranean coast and the two archipelagos dominate the highest prices among the most sought-after locations.
Thus, the town of Adeje in Tenerife (located in the south of the island and one of the main tourist towns in the archipelago) has an average housing purchase price of 681,500 Euros, according to the real estate portal’s study.
In the ranking of municipalities with the highest relative demand, Móstoles (211,000 inhabitants) surpasses the capital itself, followed by Getafe (185,000), Valencia, and Alcalá de Henares (200,000), also on the outskirts of Madrid, ahead of Santa Cruz de Tenerife and Las Palmas de Gran Canaria.
In eighth place is the Valencian municipality of Torrent (87,000 inhabitants), followed by Zaragoza, Barcelona, Seville, Reus (Tarragona, 109,000), Malaga, L’Hospitalet de Llobregat (Barcelona, 276,000), Santander, Huelva, Palma, Gijón (268,000), Sant Cugat del Vallès (Barcelona, 98,000), and Almería, which rounds off the top 20.
Next in line are Alicante, A Coruña, Manresa (Barcelona, 79,000), Badalona (Barcelona, 224,000), San Bartolomé de Tirajana (Las Palmas, 54,000), Donostia-San Sebastián, the Malaga towns of Rincón de la Victoria (51,000) and Torremolinos (70,000), Lleida, and Vitoria-Gasteiz.
Regarding the average price, the “uncontested” leadership – it says – of Benahavís (9,200 inhabitants), on the Costa del Sol in Malaga, with prices already exceeding 2.23 million Euros, is joined by the well-known “million trio” consisting of Calvià (1.67 million), Marbella (Málaga, 156,000 inhabitants, 1.49 million) and the urbanization of Sotogrande (in San Roque, Cádiz, 1.17 million).
The first municipalities approaching these towns are two in Alicante, Altea (961,000 Euros) and Jávea (850,000 Euros), and three in Barcelona: Sant Cugat del Vallès (834,500 Euros) – more focused on residential areas on the outskirts of the Catalan capital, Sitges (736,000 Euros) and Castelldefels (647,000 Euros).
Both Adeje (681,500 Euros), in Santa Cruz de Tenerife, and Llucmajor (671,000 Euros), in Palma, reflect the demand on the coast in both the Canary Islands and the Balearic Islands.
The capitals with the highest overall prices are Palma (641,200 Euros), followed by San Sebastian (570,200 Euros), Madrid (509,600 Euros), and Barcelona (398,300 Euros).
