It depends where you are. Beach resorts and smaller towns usually have free street parking, though you’ll need to hunt for spots in high season.
City centres like Santa Cruz or Puerto de la Cruz use paid blue zones at roughly €1 per hour, and popular sights fill up fast so arrive before 10am.
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The colour system is simple: white lines mean free, blue means paid, yellow means don’t even think about it. Underground car parks exist but locals avoid them, so you’ll often find space there when streets are full.