These are some of the reasons why new construction in the Canary Islands is cheaper than second-hand housing:

Peripheral location: New homes tend to be located in less central areas than used homes, which are located in consolidated areas with all services nearby, raising their price.

Less Affected by Inflation: New construction housing transactions reflect prices defined years ago, as they are off-plan purchases, so they are not as affected by current inflation.

Supply Shortage: There is a limited supply of both new and second-hand housing, which increases demand and, consequently, prices.

Longer Delivery Times: Buyers prefer ready-to-move-in homes, which is more common in the second-hand market. Longer delivery times for new construction can be a disincentive for some buyers.