The cost per square meter in Telde is 1,420 euros.
Sociedad de Tasación has published a study “New property in the Balearic and Canary Islands” with information detailed per autonomous communities and municipalities, corresponding to the first half of 2021. This report analyzes the prices of new property in the most representative cities of the two autonomous communities. It also includes the dynamics of various real estate indicators in the second quarter of 2021.
The information used to design the study is derived from home supply data collected by the ST collaborations network and also used to conduct assessments. The work was carried out from March to June 2021, both on the islands and in the rest of the autonomous regions of Spain. A total of nearly 38,000 properties were included in the 2,900 developments.
This data is processed through a rigorous filtering and standardization procedure based on homogeneous criteria (measurements, application review ...) and deriving the possible transaction value by deducting discounts or commissions using a purchase simulation procedure. The information included in each piece of data contains 60 variables that are used to determine the average values in different territorial areas.
The results of the report show that the wholesale price for new property reached 2,176 euros per sq.m. in the Balearic Islands and 1,602 euros per sq.m. in the Canary Islands as of June 2021. In both cases, Spain experienced the highest growth rates on a year-to-year basis. Thus, the average price of new property in the Balearic Islands since June 2020 has increased by 1.1%, and in the Canary Islands - by 0.6%. Growth rates on both islands are above the national average (+ 0.4%). In Spain, the average price of new property was 2,482 euros per sq.m. in June 2021.