The price of housing in Santa Cruz de Tenerife reaches €2,264.7 per square metre, surpassing Las Palmas by €61.7. Both provinces are approaching the national average, which is close to €2,316.
Buying a home in Santa Cruz de Tenerife is now more expensive than in Las Palmas. This is reflected in the latest statistics from the Ministry of Housing and Urban Agenda, corresponding to the first quarter of 2026. The Tenerife province recorded a assessed value of €2,264.7 per square metre, a 15.7% increase compared to a year ago. Las Palmas, on the other hand, remained at €2,203, with a year-on-year increase of 11.5%.
The difference between the two provinces is €61.7 per square metre. For a typical 80 square metre flat, this means about €4,936 more in Santa Cruz de Tenerife. An amount that, for many budgets, makes the difference between being able to buy or not.
A market under pressure in the Canary Islands
The rising cost of housing in the Archipelago is not a new phenomenon, but the data from the first quarter confirms that the pressure is intensifying. Santa Cruz de Tenerife leads the increase with 15.7%, compared to 11.5% in Las Palmas. Both provinces are now above €2,200 per square metre, very close to the national average, which stands at €2,315.7.
Behind these figures is the imbalance between the available supply and a demand that continues to grow. The lack of finalised land, the increase in population, and the tourist pull continue to push prices upwards. For the Canarian buyer, it is becoming increasingly difficult to find affordable housing.
The most expensive in Spain, far behind
Nationally, the most expensive provinces remain Madrid (€4,047.5/m2), Balearic Islands (€3,885.6), Guipúzcoa (€3,419.7), Barcelona (€3,207.7), and Málaga (€2,988). Although the Canary Islands are below these levels, they are already approaching the leading group. At the opposite end, Teruel remains the cheapest, with just over €1,000 per square metre.
For the resident of Santa Cruz de Tenerife, the reality is that the dream of owning a home is drifting further away. According to data from the Ministry, an 80 square metre home in the province would cost on average €181,176. In Las Palmas, around €176,240. Figures that, for many families, require considerable financial effort.
Experts consulted indicate that if the trend continues, the Canary Islands could get even closer to the national average in the coming quarters. For now, the market remains hot and shows no signs of cooling down.
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