Rising Housing Costs Strain Savings in the Canary Islands

Given that the Canary Islands have one of the lowest average salaries in Spain, being 26 points beneath the national average, it is apparent that their ability to save is inferior to that of other autonomous communities. Furthermore, the Archipelago is situated amongst the regions with the highest rental costs, compounded by an inflationary trend that has persisted for the past couple of years, which exacerbates the circumstances. A staggering 35.8% of the inhabitants rely on daily earnings, representing the largest proportion identified in the autonomous communities.