Home sales in the Canary Islands slow down sharply in October compared to last year

Home sales and purchases fell 11% in October compared to the same month in 2024 in the Canary Islands, the second autonomous community where they decreased the most, along with the Balearic Islands, ahead only of Madrid, which recorded a drop of 11.7%, according to data published this Monday by the National Statistics Institute (INE).

The archipelago registered 2,287 home sales and purchases in October, compared to 2,516 a year earlier, when they even increased by 44.9% compared to the same month in 2023, according to the latest Property Rights Transfers Statistics compiled by the INE.

This reveals that the islands were the second region with the lowest number of operations of this type per 100,000 inhabitants, with a figure of 121, barely surpassing that of the bottom of the list, which was Navarre with 120.

In Spain as a whole, in any case, the number of home sales and purchases also decreased compared to October 2024, although to a much lesser extent than in the Canary Islands, 2.5%, according to INE data.

This data details that, of the 2,287 homes that changed hands in the islands in the month in question, 81 were protected housing and 2,206 were from the free market, with 1,628 being second-hand and 659 new.