Buying a property is getting even more difficult for young people in the Canary Islands
Young people in the Canary Islands face one of the toughest housing challenges in Spain, according to the latest Observatorio de Emancipación (Youth Emancipation Observatory) published by the Spanish Youth Council.
The report analysed data from the second half of 2024 and reveals that Canarians aged between 16 and 29 earn an average of €14,000 net per year.
However, they would need to be earning at least €36,000 annually to be able to buy a home on the open market. In other words, young Canarians would require an extra €22,000 per year to afford their own property.
The study also examined the 30–34 age group, who earn slightly more, but they too fall short, needing an additional €9,000 annually to purchase a home. The findings highlight a growing problem for a generation that increasingly struggles to leave the family home and achieve financial independence.
The data shows that the Canary Islands recorded the steepest drop in the number of young people able to leave home across Spain. While the national average fell by 1.8 points compared to 2023, the rate in the Canary Islands plummeted by 4.6 points. Catalonia followed with a 3.8 point drop. Only Galicia and Cantabria recorded slight increases, while Madrid continued to register the highest rate of young people leaving home, at nearly 18%.
The report highlights sharp differences in young people’s earnings across Spain. In Madrid, the average annual net salary for those under 30 was €17,563, while in the Canary Islands it was just €11,793, one of the lowest in the country.
Despite a 6.3% increase in wages for the youth of the Canaries nationwide, only 26.4% of employed young people were living outside the family home in 2024.
Unstable work is another big problem: more than one in four young people only had part-time jobs, and nearly four out of ten said it wasn’t by choice. The situation was worse for young women, with 41% working part-time compared to 37% of men.
Overall, the report paints a difficult picture for young Canarians, who not only face some of the lowest wages in Spain but also the steepest barriers to leaving home and securing their own place to live.
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