The cost of buying a home in the Canary Islands has gone up by 60% over the past two decades, making it one of the regions in Spain where property prices have risen the most.
According to data from the Fotocasa Real Estate Index, the average price per square metre in January 2025 reached €2,802, a 14.4% increase compared to the same period in 2024.
This significant rise places the Canary Islands second among the Spanish regions with the highest accumulated price increases since 2005, only behind the Balearic Islands, where house prices have skyrocketed by 124.1%.
The Canary Islands, with a 59.4% increase, have outpaced other major regions such as Madrid (23.1%), Valencia (15.5%), Galicia (11.3%), Navarra (5.7%), and Andalusia (4.9%).
By the end of 2024, the trend was already evident, with a 13% year-on-year growth in house prices in the Canary Islands, reaching €2,736 per square metre.
Property Prices Continue Upward Trend
Additional reports confirm the sharp rise in housing costs. Data from Idealista's Real Estate Price Index for January 2025 indicate that second-hand property prices in the Canary Islands have increased by 16.3% year-on-year, reaching an average of €2,865 per square metre. Over the past three months alone, prices have risen by 3.5%.
This rapid escalation in housing costs, nearly double the national average, continues to put pressure on the Canary Islands' property market, making homeownership increasingly unaffordable for most residents.
