The 21.94% of Canarians over 18 years old live in rented properties, and the majority, specifically 73.47% of them, would choose to buy if they had sufficient economic capacity.
According to data collected by the Canary Islands Institute of Statistics (ISTAC) for the fourth quarter of 2024, only a minority choose to rent out of their own conviction.
7.22% of respondents state that they do not want to buy, 9.64% value this option because it allows greater mobility, and 14.53% do not want to take out a mortgage.
In contrast, 22.80% consider it a temporary solution until they can buy, and 73.47% do not have sufficient income or revenue to cover this type of expense.
ISTAC data corroborates that the economic barrier to buying a home knows no age: it is the reason why 77.80% of younger people live in rented accommodation, but among the population aged 65 or over, that percentage is very similar: 77.42%.
Until the fourth quarter of 2024, only 6.25% of the Canary Island population over 18 years of age resided in subsidized rental housing.
11.66% then paid 750 euros or more for their rent; 22.09% between 600 and 750 euros; 30.51% between 500 and 600; 29.62% from 300 to 500; and 4.99% less than 300.
Younger people (18-34 years old) are the ones who have to make the biggest outlay to rent an apartment: 18.28% paid 750 euros or more and only 15%, less than 500 euros.
The highest rate of residents in owned homes is in Gran Canaria (66.13%), although if the focus is on the regions, the north of Tenerife takes the prize (70.55%).
Fuerteventura (24.25%) is the island with the highest percentage of people who reside in a rented home, and Tenerife South (25.35%) is the region that concentrates the most people in this modality.
16.15% of homeowners in the Canary Islands have inherited or received their home as a donation, a percentage that rises to 21.92% in the green islands: La Palma, La Gomera and El Hierro.
72.77% have owned their current home for 15 years or more; 9.42% between 10 and 15 years, 7.71% from 5 to 9 years, and 10.09% less than 5 years.
Gran Canaria is the island with the highest percentage of old properties: 77.77%.
Tenerife and Lanzarote are the islands with the highest percentage of homes purchased in the last five years, with 13.36% and 13.26%. The green islands, the least (9.76%).
25.91% reside in an independent family home, 19.66% in a semi-detached or terraced family home. The majority reside in buildings, 25.80% of which are in those with ten or more floors.
Satisfaction level
34.35% of Canarians are very satisfied with their current home, 46.19% are quite satisfied, and 18.35% are little or not at all satisfied.
Tenerife is the island where the most population is very satisfied (39.75%) and where the rate of people who are little or not at all satisfied is lower (14.64%), a percentage that in the metropolitan area is reduced to 13.77%.
This section is headed by Fuerteventura (28.46%), ahead of the south of Gran Canaria (28.42%) and La Gomera (24.60%).
By age groups, the highest degree of dissatisfaction occurs among people aged 18 to 34 (25.45%); compared to 19.89% of those aged 35 to 44 and 17.36% of those aged 45 to 64 and 13.50% of those aged 65 and over.
ISTAC statistics also break down the reasons for dissatisfaction of the people surveyed, which are not cumulative when calculating percentages.
18.91% are unhappy with the size of their home; 21.29% with the distribution of interior spaces; 22.80% with the state of conservation of the home; 29.75% with the quality of materials and finishes; 47.39% with the cost of rent/mortgage; 49.47% with the cost of supplies; 13.03% with the location; 30.79% with the distance from the workplace or study; 25.04% with access to public services; 34.30% with nearby public transport connections; 28.44% with neighborhood security; and 20.52% with the general atmosphere of the neighborhood.
