The luxury property market continues to grow in the Canary Islands, with nearly 300 properties listed for sale at prices exceeding €3 million, according to a recent report by Idealista.
Expanding the price range of homes to €1 million or more, the total number of listings climbs to approximately 1,700 across the islands.
Tenerife Leads in Luxury Listings
The province of Santa Cruz de Tenerife dominates the luxury real estate market in the Canary Islands, with 1,229 high-end properties currently on the market.
Among these, 987 homes are priced at over €1 million, and 242 are listed at over €3 million. This concentration accounts for nearly 3% of Spain’s luxury housing inventory.
Las Palmas de Gran Canaria, the other major province in the archipelago, which includes Lanzarote and Fuerteventura, has 435 luxury homes for sale. Of these, 36 are valued at over €3 million, and 399 are priced at over €1 million, representing 1% of the national high-end property market.
High Demand for Ultra-Luxury
At the national level, Idealista reports that, as of November 2024, there were 45,000 properties in Spain listed at prices exceeding €1 million. Of these, more than 20% (approximately 9,800 listings) were priced in the "prime" market segment, surpassing €3 million.
The highest concentration of ultra-luxury homes is found in Málaga (Costa del Sol), the Balearic Islands, Madrid, Alicante, and Barcelona, which together account for nearly 80% of the country’s high-end market.
Notably, the Balearic Islands lead the way, with 24.4% of Spain's total luxury housing stock, while the Costa del Sol in Málaga remains a hotspot for the ultra-wealthy.
