Friday, January 29, 2021

Back to the 50s: Hundreds of Tenerife families rent rooms in their houses due to the crisis

Houses in Tenerife

The price per room exceeds 280 euros, according to a study on shared housing | The islanders recover a very common practice in the 1950s

Hundreds of Tenerife families have been forced to rent rooms in their houses to cope with the economic crisis caused by the coronavirus pandemic, it was reported yesterday by Isidro Martín, delegate in the Canary Islands of the Asociación de Expertos Inmobiliarios y Promotores (Association of Real Estate Experts and Promoters) (APEI), in statements to COPE Tenerife. “There are people who at this moment are not in a position to rent a whole house and what they do is reach agreements with other people or even families to rent a room. These are, above all, young people who do not mind sharing space with other people with whom they have no relationship. We are talking about an evolution of the classic rental of students in a shared flat,” Martín explained.

The delegate in the Canary Islands of the Association of Real Estate Experts considers that this practice is a return to the past. "It was happening a lot in the Canary Islands in the 1950s and it is happening again now," explained Martín, who emphasizes that it is the only way that some Tenerife families can find to make ends meet. The crisis caused by Covid-19 is wreaking havoc on families with limited resources on the island. 

And rental prices have dropped in the archipelago during the pandemic. According to recent information published by EL DÍA, in 2020 and for the first time in five years, average rental prices in the Canary Islands fell, alleviating a market that had been experiencing continuous increases in the rents payable by tenants for several years. This is indicated by a report prepared by a well-known real estate portal that indicates that the rental price in the islands fell by 3.5% compared to 2019.

283 euros per room

The average price of a room in a shared apartment in the Canary Islands rose 1.3 percent last year, standing at 283 euros per month compared to 280 euros in 2019, according to the study Shared housing in Spain carried out by Fotocasa, mentioned by COPE Tenerife. The delegate in the Canary Islands of the Association of Real Estate Experts pointed out that the option of sharing a room "is being used more and more frequently because it is a means to make extra money to pay rents or mortgages."