Property Prices up 16.5% in Tias District

Which part of the island has the highest house prices? According to Spanish market commentators Sociedad de Tasacion (one of Spain’s leading mortgage evaluation specialists) the priciest properties on Lanzarote are to be found in the municipality of Tias.

Where the price of a new home has reportedly risen by 16.5% over the last twelve months.

The ST report indicates that new property in Tias has easily outperformed other locations – at a rate that is more than double the island average. As official figures indicate that property prices have risen 8% across Lanzarote during 2006.

The Sociedad de Tasacion estimate that new property in Tias now costs, on average, €1,800 per square metre. Making it more expensive than San Bartolome (€1776 per square metre), Teguise (€1725) or Arrecife (€1650).

This price increase is being attributed to the fact that the district of Tias encompasses the popular resort of Puerto del Carmen – where there is currently a shortage of land available for development.