Canary Islands Property Prices Continue Sharp Climb
The price of second-hand housing in the Canary Islands increased by 19.3% in February compared to the same month last year, reaching €3,353 per square metre. According to data from the Fotocasa Real Estate Index, this places the archipelago as the fourth most expensive autonomous community in Spain for property sales. While the increase is slightly lower than the national average of 19.9%, buyers in the Islands are paying €400 more per square metre than the Spanish average, which stands at €2,950.
What Does This Mean for Buyers?
Consequently, Fotocasa’s figures suggest that in the Canaries, a standard 80-square-metre second-hand home would now have an average value of €268,240. The only regions with higher prices per square metre are the Balearic Islands (€3,709), Madrid (€5,217), and the Basque Country (€3,709).
National Trend and Tenerife’s Significant Rise
This local increase is part of a nationwide trend. Prices rose year-on-year in 49 of the 50 provinces analysed for February, with five provinces seeing increases exceeding 20%: Valencia (26.6%), Murcia (24.9%), A Coruña (23.1%), Asturias (23.1%), and Santa Cruz de Tenerife (20.2%). In fact, the only province to record a price drop compared to February 2025 was Teruel, with a decrease of 10.9%.
Price Pressure Spreads Across Spain
The 19.9% annual rise in used housing recorded in Spain in February is the third highest in the last 13 months, with prices up in every autonomous community compared to February 2025. Besides the Canary Islands, eleven other regions saw annual increases in second-hand property prices exceed 10%, specifically Murcia (24.9%), Asturias (23.1%), the Valencian Community (20.5%), Andalusia (19.9%), Cantabria (18.7%), Madrid (16.7%), Galicia (15.6%), Catalonia (15%), Navarre (12.8%), Castilla-La Mancha (12.2%), and the Basque Country (10.2%).
Increases below double digits were recorded in the Balearic Islands (9.9%), Castile and León (9.3%), La Rioja (9%), Aragon (7.5%), and Extremadura (7.4%).
Expert Analysis: A Nationwide Supply Crisis
According to María Matos, Director of Studies at Fotocasa, “Price pressure is no longer an exclusive phenomenon of large urban centres. It is a trend that has taken hold across the entire national territory, as demonstrated by all 17 autonomous communities registering annual increases in February. It is particularly worrying that in 12 of them the rises exceed double digits.”
For Matos, this widespread pressure on prices is a response to demand that continues to far outstrip a “very scarce” supply of second-hand housing.
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