{"id":4739,"date":"2024-07-30T08:30:00","date_gmt":"2024-07-30T06:30:00","guid":{"rendered":"https:\/\/blog.destinyhome.es\/new-construction-in-the-canary-islands-why-is-it-cheaper-than-used-housing\/"},"modified":"2024-08-07T10:44:04","modified_gmt":"2024-08-07T08:44:04","slug":"new-construction-in-the-canary-islands-why-is-it-cheaper-than-used-housing","status":"publish","type":"post","link":"https:\/\/blog.destinyhome.es\/en\/new-construction-in-the-canary-islands-why-is-it-cheaper-than-used-housing\/","title":{"rendered":"New construction in the Canary Islands, why is it cheaper than used housing?"},"content":{"rendered":"\n

These are the reasons why buying new construction in the Canary Islands is a more economical option than resorting to second-hand housing.<\/p>\n\n\n\n

Since 2021 the Canary Islands have been experiencing an unusual trend in the real estate market: New construction is cheaper than second-hand housing.\nAccording to the latest data published by the Association of Registrars referring to the first quarter of 2024, new construction in the Canary Islands has remained at 2,110 euros<\/strong> per square meter on average, while used housing has reached 2,243 euros per square meter. <\/p>\n\n\n\n

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“New construction in the Canary Islands is 6.1% more expensive than used housing.”<\/p>\n<\/blockquote>\n\n\n\n

Despite this clear difference between the two types of housing, there is something that both have in common: the price of real estate is rising<\/strong>, something that is noticeable both in new construction in the Canary Islands and in second-hand housing.<\/p>\n\n\n

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*For more information about the housing market in the Canary Islands and specifically in Fuerteventura, you can download our latest report on housing in Fuerteventura<\/a>. In it you will find information on the evolution of prices by municipality, number of transactions carried out on the island, as well as the profile of the most demanded buyer and type of housing.<\/p>\n\n\n

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\"realestate-report-fUERTEVENTURA\"<\/a><\/figure>\n<\/div>\n\n\n

This unusual situation experienced in the Canary Islands is only found in another Spanish autonomous community: Galicia.\nIn the rest of the communities, the price of new housing is clearly higher than that of used housing. <\/p>\n\n\n\n\n\n

Why is new construction in the Canary Islands cheaper?<\/h2>\n\n\n\n

But why is new construction in the Canary Islands cheaper than second-hand housing?\nThere are several reasons that lead to this unusual situation. <\/p>\n\n\n\n

Peripheral location<\/h3>\n\n\n\n

One of the main reasons that makes new housing in the Canary Islands cheaper is its location, usually less central than used housing<\/strong>. Second-hand housing is usually located in consolidated areas, surrounded by all kinds of services (leisure, restaurants, supermarkets, schools…), which raises its price considerably.<\/p>\n\n\n\n

In contrast, newly built homes tend to be located in somewhat more remote and quiet areas<\/strong>.\nHowever, if they are well connected to the center, it is possible to enjoy all the tranquility of the periphery and access all the services of the area in just a few minutes. <\/p>\n\n\n\n

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