How is the real estate market in Fuerteventura?

How is the real estate market in Fuerteventura?

Fuerteventura has a sustained growth rate of 7%, which makes it the most attractive island in the Canary Islands for investors and sellers. Its continuous growth since the 2008 crisis and its popularity as a tourist destination generate promising real estate potential.

Discover how this diverse and resilient market offers opportunities for investors and sellers.

Investment potential in Fuerteventura

The price per square meter in Fuerteventura is €1,452 according to data from the Association of Registrars. In addition to exceeding the regional average, Fuerteventura has achieved a 7% growth in the value of homes, making it the most attractive island in the Canary Islands to invest or sell.

Likewise, one of the most notable aspects of the island’s real estate market is its continued resilience. Since the economic crisis of 2008, Fuerteventura has experienced a sustained revaluation for more than 15 consecutive years. This consistency is a characteristic that many investors look for, as it suggests stability and a long-term return.

The popularity of this island as a tourist destination also adds additional investment appeal, with an estimated rental value of around €108 per night, properties in Fuerteventura can provide significant income opportunities.

Report of the real estate market in Fuerteventura

Differences in housing prices

The real estate panorama in Fuerteventura is not homogeneous, and different municipalities experience variations in housing prices:

  • La Oliva: last year marked a significant increase in the price per square meter, with a growth of 28.5% compared to prices recorded in December 2021. The price per square meter in 2022 was 2,659 euros. In June 2023, it stood at 2,857 euros.
  • Antigua: experienced an increase of 11.6%, although for much of 2022 the trend was upward, with a peak of €2,084 in October, a slowdown was observed. In June 2023 it was at 2,256 euros.
  • Pájara: maintained relative stability in prices, with 2,033 euros per square meter at the close of last year. In June of this year at 2,265 euros.

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Quarterly evolution in housing prices

As for the quarterly evolution of prices, in the first quarter of 2023, the Housing Price Index of the National Institute of Statistics shows that in the Canary Islands prices increased by 0.6%.

However, it is important to highlight the differences between housing types. New home prices rose 3% in the first quarter of 2023, while used home prices experienced a more moderate increase of 0.2%.

Breakdown of prices by housing type

To better understand the real estate market in Fuerteventura, we have calculated the average price of each type of property based on our data:

  • Apartment or apartment: the average price of apartments and apartments in Fuerteventura is around 128,800 euros.
  • Duplex: average price around 184,600 euros.
  • Villa or house: they have an average price of 244,000 euros.
  • Luxury Villas: have an average price of 432,000 euros.
  • Land: if you are looking for land for future investment, the average price is around 62,700 euros.

*These are indicative data, Fuerteventura has a very heterogeneous real estate market and varies depending on many factors.

Given the potential of Fuerteventura and its price range, Destiny Home offers professional advice and a comprehensive service offering that provides solutions to those looking to sell.

Selling a home is a more complex process than simply taking photos and posting ads on real estate portals. To achieve a reasonable and uncomplicated market price, it is crucial to contract professional real estate agents specialized in Fuerteventura.

Report of the real estate market in Fuerteventura

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