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What do the latest numbers reveal about the Canary Islands' real estate market? Are property prices on the rise, or are they stabilizing? Which areas offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in the Canary Islands, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
1) By 2025, 50% of Canary Islands properties sell within three months
In 2025, 50% of properties in the Canary Islands are sold within three months.
Back in 2023, data from Idealista revealed that 55.4% of homes in Las Palmas de Gran Canaria were sold in less than three months. This fast-paced market likely set the stage for the quick sales we see in 2025.
The housing market in the Canary Islands is also seeing a price hike, with a predicted 4% rise in 2025 according to Canarias7. This increase points to a high demand for properties, which, when combined with limited supply, speeds up sales.
These dynamics create a hot market where properties don't stay listed for long. The ongoing demand and limited availability are key drivers of this trend.
For potential buyers, this means acting fast is crucial. The market's quick turnover reflects a competitive environment where properties are snapped up swiftly.
Understanding these factors can help you navigate the Canary Islands' real estate scene, where timing and decisiveness are essential.
2) Vacation rental demand in the Canary Islands grew by 12% in 2024
In 2024, the demand for vacation rentals in the Canary Islands grew by 12%.
By September 2024, the number of vacation rentals had increased by 12.5% compared to the previous year, offering travelers more choices with a total of 47,343 properties. This surge in availability was met with a high occupancy rate of 89.14%, showing that these rentals were in high demand.
Reservations for these vacation spots also saw a boost, rising by 13% in September 2024 compared to the same month in 2023. This trend highlights a growing preference for vacation rentals over traditional accommodations among tourists.
Tenerife led the way with the highest concentration of vacation rentals, accounting for 41% of the total. This was followed by Gran Canaria, Lanzarote, and Fuerteventura, each offering a unique experience for visitors.
With such a diverse range of options, travelers are increasingly drawn to the Canary Islands, seeking the flexibility and comfort that vacation rentals provide.
Sources: Noticias 8 Islas, Gobierno de Canarias
We have made this infographic to give you a quick and clear snapshot of the property market in Spain. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
3) By 2025, property maintenance in the Canary Islands will average €1,500 annually
In 2025, the average cost of maintaining a property in the Canary Islands is €1,500 annually.
Community fees are a big part of this, covering essentials like pool and elevator upkeep, and gardening. These fees can range from €25 to €500 per month, depending on your property's size and type. If you're considering a larger property, expect to be on the higher end of this range.
Utilities such as electricity and water are additional costs. If not included in community fees, they can add about €15-20 per month for minimal usage. This is especially important for rental properties, as it helps keep costs predictable without affecting renters' consumption.
Other expenses also add up. For instance, there's the derrama, a fund for repairs and renovations, and gardening care, which costs between €50-100 monthly. Pool maintenance is another €100 each month, and security systems come with a one-time installation fee plus ongoing costs.
All these factors combined explain why the average annual maintenance cost is around €1,500. It's crucial to consider these when budgeting for a property purchase in the Canary Islands.
Sources: Nous Property, Privalgo, Chase Buchanan
4) In 2025, the average age of property buyers in the Canary Islands is 45 years
The average age of property buyers in the Canary Islands is expected to be 45 years in 2025.
This aligns with a broader trend in Spain, where a 2019 study by Aedas Homes found that the median age of property buyers was also around 45 years. This consistency suggests that the Canary Islands are following a national pattern.
In 2023, the Canary Islands saw a 75.81% increase in property sales to foreign buyers during the first trimester. While this doesn't specify the buyers' ages, it highlights a growing interest in the region's real estate, likely attracting a similar age group as the rest of Spain.
The Canary Islands offer a stable and affordable real estate market with diverse options like houses, villas, and sea-view apartments. This variety is appealing to many, especially those around 45 years old, who might be seeking investment opportunities or retirement homes.
Buyers in this age group often look for properties that offer both investment potential and lifestyle benefits. The Canary Islands, with their attractive climate and lifestyle, provide an ideal setting for such buyers.
As the trend continues, the Canary Islands are likely to remain a hotspot for property buyers, particularly those in the 45-year age bracket, mirroring the national trend observed in Spain.
Sources: Idealista, Canarias Semanal, Chase Buchanan
5) Properties with sea views sold in the Canary Islands increased by 12% in 2024
In 2024, the number of properties with sea views sold in the Canary Islands increased by 12%.
The Canary Islands are a hotspot for property investment, thanks to their year-round sunshine and booming tourism industry. These islands offer a unique blend of natural beauty and economic opportunity, making them a magnet for buyers seeking a solid investment.
Over the years, the property market here has seen steady price increases. Even though global conditions have occasionally slowed growth, the demand for properties consistently outstrips supply. This dynamic ensures that property values continue to rise, offering a promising outlook for investors.
Particularly in Tenerife and Gran Canaria, there's a growing appetite for high-end villas and exclusive resorts. Wealthy buyers are drawn to properties with ocean views, golf courses, and luxury amenities, fueling the market's growth.
This surge in interest has significantly contributed to the rise in sea-view property sales in 2024. The allure of the Canary Islands, with their stunning landscapes and vibrant culture, is undeniable.
For those considering a purchase, the islands present a unique opportunity to invest in a market where property values are expected to appreciate over the long term. The combination of natural beauty and economic potential makes it an attractive choice.
Sources: Destinations by LeadingRE, Terrenos.es, The Golden Partners
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6) Property insurance in the Canary Islands costs an average of €300 annually in 2025
The average cost of property insurance in the Canary Islands is €300 annually in 2025.
In recent years, the Canary Islands have experienced a stabilization in property values, particularly in 2023 and 2024. This stability has allowed insurance companies to offer more predictable and competitive rates, making it easier for homeowners to budget for their insurance needs.
Moreover, the local government has taken proactive steps to improve infrastructure and mitigate natural disaster risks. These measures have significantly reduced the risk for insurers, enabling them to offer lower premiums to property owners.
As a result of these efforts, the insurance market in the Canary Islands has remained stable, with the average cost of property insurance staying at a reasonable level. This is great news for potential property buyers looking to invest in the region.
For those considering purchasing property in the Canary Islands, it's important to note that these factors have contributed to a steady insurance premium rate. This makes the region an attractive option for investment, given the predictable costs associated with property ownership.
Overall, the combination of stable property values and government initiatives has kept the average cost of property insurance at €300 annually, making it an appealing choice for potential buyers.
Sources: Ades Broker, Canary Immo, Rastreator
7) A three-bedroom apartment in the Canary Islands will average €220,000 in 2025
The average cost of a three-bedroom apartment in the Canary Islands is €220,000 in 2025.
Back in September 2021, the average price per square meter in the Canary Islands was about €1,921. This set the stage for the cost of larger properties, like three-bedroom apartments, which could range from €220,000 to €3 million, depending on factors like location and property type.
Take Las Palmas de Gran Canaria, for example. A 100 m² apartment in the city center might cost up to €230,000. This shows that while some areas have higher prices, the overall average can still hover around €220,000, especially in less central spots.
The real estate market in the Canary Islands has been stable yet affordable. By 2024, the average price per square meter was noted to be €2,400. This supports the idea that a three-bedroom apartment could indeed cost around €220,000, depending on the specific location and condition of the property.
In certain areas, the price of a three-bedroom apartment can vary significantly. For instance, properties in more desirable locations or with better amenities might push the price higher, but the average remains accessible for many buyers.
Overall, the Canary Islands offer a range of options for potential buyers, with prices influenced by factors like location, property type, and market trends. This makes it a compelling choice for those looking to invest in a property abroad.
Sources: RealAdvisor, Privalgo, Chase Buchanan
8) By 2025, 28% of property buyers in the Canary Islands will be retirees
In 2025, 28% of property buyers in the Canary Islands are retirees.
The Canary Islands, especially Tenerife, have become a magnet for retirees, thanks to their favorable climate and stunning beaches. This allure is evident as over 11% of Tenerife's residents were foreign nationals by 2023, many of whom chose to retire there. The island's welcoming expatriate community adds to its charm, making it a top choice for those looking to enjoy their golden years.
Foreign buyers, particularly affluent Europeans, have been increasingly interested in the Canary Islands' property market. In 2023, foreign buyers accounted for 28.5% of property sales, with retirees making up a significant portion of this group. This trend highlights the region's growing appeal to those seeking a serene and picturesque retirement destination.
The demand for properties in the Canary Islands has surged, driven largely by foreign buyers, including retirees. This increased interest has led to a rise in property prices, especially in tourist hotspots. In the first quarter of 2023, there was a notable 75.81% increase in property sales by foreign residents, underscoring the strong attraction of the islands.
Retirees are particularly drawn to the Canary Islands for their lifestyle benefits, such as the mild climate and vibrant community life. The islands offer a perfect blend of relaxation and activity, making them an ideal place for retirees to settle down and enjoy their retirement years.
As the trend continues, the Canary Islands are expected to remain a popular choice for retirees, with their unique combination of natural beauty and welcoming atmosphere. The ongoing interest from foreign buyers is likely to keep the property market dynamic and competitive.
Sources: eldiario.es, Chase Buchanan, Canarias Semanal
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.