Property Prices Hit Record High as Housing Costs Continue to Rise
House prices in Costa Teguise have reached a new record, with the average asking price climbing to €3,916 per square metre in June, according to data from Idealista provided by the Lanzarote Data Centre.
The latest figures show that Costa Teguise is now closing the gap on Tías, traditionally the island’s most expensive municipality. While the municipality of Teguise as a whole recorded an average of €3,341 per square metre, Costa Teguise alone is significantly higher due to strong demand for homes in the popular coastal resort.
Across the island, Tías remains the most expensive municipality, with an average asking price of €3,957 per square metre, followed by Yaiza at €3,680, while Teguise ranks third overall.
The data shows Costa Teguise’s property prices have increased by 4.8% over the past three months and are 7.2% higher than a year ago, when the average stood at €3,654 per square metre.
Interestingly, the previous peak was recorded in July last year, when prices reached €3,737 per square metre. Values then eased over the following months, dropping to around €3,478 in October, before steadily climbing once again to set a new all-time high this June.
The continued rise reflects the strong demand for property in Lanzarote, particularly in sought-after tourist areas, where limited housing supply continues to push prices higher despite affordability concerns for many residents.
