The increase in property prices in Lanzarote is approximately 17% per year, but one locality on the island, Costa Teguise, has seen this figure double. Here, prices are 31.9% higher than they were a year ago.

For instance, an 80-square-metre flat in the coastal town now costs €72,400 more than last year, according to data from idealista.com.

Last July, the price per square metre in Teguise reached €3,737, reflecting an increase of €900 compared to the same time last year and €1,000 more than in May of last year. Fourteen months ago, it stood at €2,741.

This scenario is a stark contrast to the experience during the pandemic when property prices in the coastal town were declining, albeit at a much slower pace than the current growth.

At that time, prices dropped from €2,259 per square metre in February 2019, reaching a pandemic low of €2,038 in March 2021.

Since then, prices have begun to rise. In the first year, up to March 2022, there was a 12.6% increase.

In the subsequent year, leading up to March 2023, prices rose by another 8.9%, while in the third year post-pandemic, by March 2024, there was a further increase of 2.3%.

However, the most significant price surge has occurred in the last year. By March 2025, prices had escalated by 34.5% compared to the previous March.