Nomad: housing & costs · Canarias · 10.11, 20:51
High number of vacant and unsold apartments in the Canary Islands
There are over 30,000 new unsold apartments and 213,951 vacant properties in the Canary Islands. Experts state that low wages and property withdrawals by owners limit housing availability.
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Rosa Rodríguez from the Colegio Oficial de Economistas de Las Palmas stated that prices remain high despite high supply because of low resident incomes. Data shows there are 1,102,198 apartments for 862,092 households in the archipelago. The expert notes that new housing decrees caused a 15% drop in supply due to owners feeling insecure.
This means the property market remains difficult for people seeking cheap rent or purchase despite the high number of empty units.
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