Yoné Caraballo, the Member of Parliament for Lanzarote and La Graciosa, and President of Nueva Canarias-Bloque Canarista (NC-bc), has expressed serious concerns regarding the housing policies implemented by the governments led by the Coalition Canaria (CC) and the Popular Party (PP) at local, island, and regional levels.

According to Caraballo, the measures introduced by the conservative parties have exacerbated the housing crisis, affecting both purchasing and rental markets. He highlights that, a year after the Canary Islands government approved the Urgent Measures for Housing Decree, “the purchase price has increased by 20 per cent in Lanzarote, making it almost impossible for first-time buyers to acquire a home.”

He further notes that rental prices are equally out of control, stating, “a tenant used to spend an average of 35 per cent of their income on rent; today, this figure is approximately 59 per cent.”

“What are CC and PP telling the working-class residents of Lanzarote about the real effects of their housing measures on their finances and quality of life? How can young people access housing for a decent living under their policies?” questions the MP, emphasising that only property owners have benefitted from their measures. He points out that “the cost of buying a home is now 50 per cent higher than during the 2007 property boom,” and criticises both CC and PSOE for facilitating the use of the RIC for unrestricted housing, further fuelling speculation.

According to Caraballo, “both CC and PP are inflating a housing bubble by providing incentives to builders and developers without ensuring that homes are available for affordable rent and purchase. This free rein comes at the expense of the Canary Islands’ social majority.”

Alternative Measures Required

Caraballo calls on the CC and PP governments to consider alternative measures that have been successful in regions such as Catalonia and the Basque Country. He suggests capping market prices by declaring areas as Tensioned Residential Market Zones, which would help to temporarily control price inflation. Simultaneously, he advocates for medium- and long-term strategies, including the construction of affordable housing and the activation of vacant homes with guarantees for property owners.