The Socialist Association for Lanzarote shows its concern about the “unstoppable” increase in house rental prices in Lanzarote. The new party confirms through a press release that, according to the study carried out by a major real estate company, based throughout the national territory, and published through different media, real estate speculation in Lanzarote has reached alarming levels: Arrecife and Teguise lead the list (second and third place respectively) of municipalities with the highest rental prices in Spain. Specifically, during the second quarter of 2018, according to statistical data, the rental price of homes has increased by 8% in Teguise while in Arrecife it stands at 7.8%.
“The holiday rental has changed the daily image of our locations,” they say from the Association, “has been normalized the transit of tourists with suitcases wandering through the residential areas of the different municipalities of the island, and although some defend this activity as a advantageous for the balanced distribution of wealth, the truth is that we are giving way to a lucrative system that marginalizes the residents of Lanzarote.
José Montelongo , member of the Insular Executive of ASL has stated that: “Abuse and speculation dominate the real estate sector while the competent Public Administrations remain impassible in a situation that clearly violates the fundamental rights of citizens.”