Buying a property in Adeje now costs twice as much as in Santa Cruz
Property prices in the Canary Islands continue their relentless rise, and nowhere is the gap more striking than in Tenerife. New data from Spain’s General Council of Notaries reveals that buying a home in Adeje costs more than double the price in the island’s capital, Santa Cruz.
In the last 12 months to September, Adeje recorded an average price of €4,127 per square metre, the highest in the whole of the Canary Islands. Meanwhile, Santa Cruz sits at just €1,893 per square metre.
To put this into perspective:
- A 90m² home in Adeje at this price costs €371,436
- The same property in Santa Cruz: at this price costs €170,370
This widening divide highlights the severe challenges facing residents, particularly those on lower incomes or younger buyers trying to enter the housing market.
Southern municipalities dominate the rankings
Four of the five most expensive areas in Tenerife are in the south and closely linked to tourism. The top positions on the island are:
1. Adeje: €4,127/m²
2. Santiago del Teide: €3,397/m²
3. Guía de Isora: €3,319/m²
4. Arona: €2,825/m²
Santa Cruz doesn’t appear until 10th place, behind locations such as Puerto de la Cruz, San Miguel, Granadilla, and Candelaria.
Adeje is followed by San Bartolomé de Tirajana in Gran Canaria (€3,875/m²), and ironically, Vilaflor, the second cheapest municipality in the archipelago at €594/m², is right next door to Adeje, underlining the extreme geographic disparities on the island.
Tourism influence and limited space driving prices up
The Canaries face unique pressures:
- Limited land availability
- Strong foreign demand: 41% of buyers in the province are non-Spanish
- The tourism sector is pushing demand for investment properties
Home ownership is increasingly out of reach for young people
A striking statistic from the notary portal is that only 6.5% of home purchases are made by young buyers, compared to 21.5% in 2007. This suggests that for many locals, especially those working in sectors with modest wages, home ownership is becoming a distant dream.
Strong sales despite soaring prices
In the past year, 12,330 properties were sold in the province of Tenerife, an average of 33 every day.
- Average price: €220,388
- Average size: 101m²
- Most sales: second-hand apartments/flats averaging €189,233
With prices showing no sign of easing and tourism continuing to fuel demand, housing inequality is becoming one of the Canary Islands’ most urgent social challenges — especially in the busiest tourist resorts in Tenerife, Gran Canaria, Lanzarote and Fuerteventura.
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