Finding affordable housing on the Canary Islands has become quite a challenge. Increased demand, the archipelago's tourist appeal and limited supply in certain areas have driven prices up in recent years. However, opportunities still exist for those seeking affordable housing without sacrificing quality of life. In this article, discover the most affordable town on the Canary Islands as of March 2026.
Which is the cheapest town in the Canary Islands to buy a home?
The most affordable town in the Canary Islands to buy a home is Gáldar, on Gran Canaria, with an average price of €1,311/ m². This figure makes it the cheapest market in the archipelago.
Gáldar stands out for combining competitive prices with good urban infrastructure. It boasts healthcare services, schools, shopping areas and a wide range of cultural offerings. Furthermore, its location in the northwest of Gran Canaria allows residents to enjoy a more peaceful environment, away from the tourist bustle of the south.
Living in Gáldar
Living in Gáldar means combining tranquillity and authenticity with a convenient location. It's a town with a beautifully preserved historic centre, pedestrian streets, lively squares and a strong cultural identity.
In addition to its affordability, Gáldar offers a privileged natural setting: it's close to coastal areas, natural pools and inland rural areas. It's perfect for those who prioritise space, peace and quiet and a tight budget.
Where is it cheapest to live on the Canary Islands?
In general, the most affordable areas to live in the Canary Islands are located outside the major tourist centers and island capitals. Inland or northern villages and towns on islands like Gran Canaria and Tenerife tend to be more affordable than urban or tourist areas.
More competitive prices can also be found on smaller islands like La Gomera or El Hierro, or in villages and towns less geared towards tourism.
The most affordable towns on the Canary Islands
Below are the five cheapest towns on the Canary Islands, with their price per square metre and a brief description of what you can expect from each:
- Gáldar – €1,311/m²: Located in the north of Gran Canaria, it offers a charming historic centre, good road connections and all basic services.
- Teror – €1,420/m²: Also on Gran Canaria, known for its Basilica and traditional houses with wooden balconies. It's a very green, inland town, ideal for those seeking a cooler climate.
- Icod de los Vinos – €1,473/m²: Located in the north of Tenerife, famous for the Drago Milenario (Millennial Dragon Tree) and its views of Mount Teide. It is very close to the coast and offers a variety of services.
- Ingenio – €1,489/m²: In the east of Gran Canaria, near the airport, it is a practical town for those who need good connections with the rest of the island.
- Arucas – €1,514/m²: In the north of Gran Canaria, very close to the capital, it stands out for its impressive neo-Gothic church and its local commercial fabric.
