Lanzarote is facing a growing property crisis, with just 2% of apartments currently on the market priced within the budget range that nearly half of prospective buyers are actively searching for.
According to new data, nearly half of potential buyers in Lanzarote, Fuerteventura, and Gran Canaria are searching for homes priced below €120,000.
In Lanzarote, only 23 properties fall into that category out of more than 1,000 currently listed.
The majority of available homes are priced far higher than what most people can afford. 40% of properties on the island now cost over €500,000 despite just 5% of buyers looking in that range.
The imbalance is even more pronounced at the top end of the market. A total of 125 homes are listed for more than €1 million, yet only 2% of buyers are searching in that price bracket.
Mid-range homes are also falling short of demand. Around 20% of buyers are searching for properties between €120,000 and €210,000, but only 14% of listings match that range. The same mismatch is seen in other price brackets up to €480,000.
The figures clearly show that most people are looking for homes in the lower or mid-price range, but most of the properties for sale are far more expensive. This growing gap is raising new concerns about how accessible and affordable housing really is on the island, and how speculative foreign investment has driven up prices.
