Home buying skyrockets in the Canary Islands compared to last year

The growth in sales in January compared to the same month last year in the archipelago is the second highest in the country and doubles the national average

March 20 2025 (19:57 WET)
Couple looking for housing in a real estate agency
Couple looking for housing in a real estate agency

The constant increase in prices due to the high existing demand and the lack of available supply has ended up convincing many that a fall in prices is neither imminent nor is it clear that it will occur, despite the numerous measures announced by the various public administrations. And they have decided to buy before costs continue to rise. 

Home sales increased in January by 11% in Spain in year-on-year comparison, an increase that in the Canary Islands was 22.7%, the second highest in the country, and chained its seventh consecutive increase, with a total of 60,650 transactions, which was the highest figure in a month of January since 2008.

According to provisional data published this Thursday by the National Institute of Statistics (INE), of all these operations, the ones that grew the most were those related to new homes, which increased by almost 31%, in their eighth consecutive month on the rise and reached 14,164 sales.

It should be noted that, in the last five months, the sale of new homes has grown by more than 30%.

Likewise, transactions referring to used homes, despite being more numerous, with 46,486 operations, grew much less than new ones, 6.1%, in their fifth consecutive year-on-year increase, according to these same data.

In total, in January, 200,987 properties of all types, rustic and urban (from public deeds previously made), were registered in the property registries, 3.7% more than in the same month of the previous year.

In the case of registered property sales, the number of transmissions was 117,973, with an annual growth of 8.4%.

Of these operations, 88% corresponded to urban properties and the remaining 12% to rustic properties. In the case of urban properties, 58.4% were home sales.

 

Only La Rioja surpassed the Canary Islands

By autonomous communities, the largest year-on-year increases in home sales were recorded in La Rioja (24.4%); Canary Islands (22.7%) and the Principality of Asturias (21.8%).

For its part, Cantabria was the only community that registered a negative annual rate, of (–10.3%).

Regarding the total number of properties, including homes, the highest rates were recorded in Andalusia (12.4%); Murcia (8.6%) and the Principality of Asturias (8.3%) and the lowest in Cantabria (–11.6%); Castilla y León (–10.8%) and the Foral Community of Navarra (–9.9%).

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