The public stock of affordable rental housing in north Tenerife is set to grow by 170 homes after the Canary Islands' public housing company, Visocan, completed the purchase of four residential buildings in La Orotava and Icod de los Vinos.
The acquisition, worth more than €22.5 million, forms part of the Canary Islands Government's Rehabita Canarias programme, which aims to bring unfinished or abandoned residential developments back into use as affordable housing.
Reviving unfinished developments
Rather than constructing new buildings from scratch, the initiative focuses on completing or restoring partially built developments that were left unfinished following the 2008 property market crash.
This approach allows homes to become available more quickly, makes use of existing structures, reduces the need for new land development and helps regenerate buildings that have stood empty for years.
With affordable rental accommodation in short supply across Tenerife, the programme is intended to increase the availability of protected housing for local residents.
New homes in La Orotava
In La Orotava, Visocan has acquired two apartment buildings providing a total of 78 homes.
One development contains 56 apartments, while the second offers 22. Every property includes a private parking space and a storage room. Both buildings consist of two residential floors above ground, with a basement level for parking and storage.
The additional homes are expected to help increase the supply of affordable rental properties in a municipality where access to housing has become an increasing concern.
More homes in Icod de los Vinos
A further 92 homes will be added in Icod de los Vinos through the purchase of two more developments.
One building contains 40 apartments that are already occupied, with Visocan having previously managed them under an existing agreement.
The second development provides 52 homes, together with parking spaces, storage rooms and laundry facilities. The building has three residential floors above ground plus an underground garage.
What happens next?
Now that the purchase has been completed, Visocan will begin the administrative process required before the remaining homes can be allocated to eligible tenants.
The company's Housing Management department will oversee the necessary procedures to make the properties available as soon as possible. However, no timetable has yet been announced for when applications will open or when families will be able to move in.
A step towards tackling the housing shortage
While the addition of 170 homes will not solve Tenerife's wider housing crisis, it represents a significant increase in the island's stock of affordable public rental accommodation.
The project also brings long-abandoned buildings back into use, helping to improve surrounding neighbourhoods while making better use of existing urban spaces instead of developing new land.
With housing affordability remaining one of the Canary Islands' biggest challenges, initiatives such as Rehabita Canarias are increasingly being seen as a faster and more sustainable way of expanding the public housing supply.
