foreign property buyers canary islands decline 2025

Foreign Homebuyers in Canary Islands Drop 10.8% in Late 2025

Foreign Property Purchases Decline Across the Canaries

The purchase of non-subsidised homes by foreign buyers in the Canary Islands fell by 10.8% in the second half of 2025 compared to the same period the previous year. The data, released by the General Council of Notaries, shows this decline was more pronounced than the 4.4% annual drop recorded across Spain as a whole. This period continues a downward trend, marked by a sharp retreat of over 15% in transactions carried out by non-resident foreigners.

National Context and the Impact of Policy Changes

Between July and December 2025, foreigners bought a total of 66,629 non-subsidised homes in Spain, accounting for 18.4% of the total market. This share is down from 19.5% in the latter half of 2024 and 20.9% in 2023. Foreign residents in Spain were responsible for 62.8% of these foreign-led purchases, a slight increase of 3.3%. However, purchases by non-residents plummeted by 15.1%, making up the remaining 37.2%. This shift occurred in a context defined by the end of the ‘golden visa’ scheme and the government’s announcement of plans to introduce fiscal penalties for acquisitions by non-resident buyers from outside the European Union.

Regional Variations: Canaries Among Sharpest Declines

While foreign purchases increased in nine of Spain’s autonomous communities, they fell in eight. The most significant declines were seen in the Community of Madrid (-20.3%), the Canary Islands (-10.8%), and the Balearic Islands (-10.2%). In contrast, the strongest growth was registered in Castilla-La Mancha (21.5%), Extremadura (13.8%), Aragon (11%), and Castilla y León (10.4%).

Where Non-Residents Are Buying and What They Pay

In the second semester of 2025, property transactions by non-resident foreigners were concentrated in the Valencian Community (9,926 operations), Andalusia (6,263), Catalonia (2,151), Murcia (1,933), and the Canary Islands (1,843). In the Canaries, these 1,843 purchases represented 7.4% of the national total for non-resident buyers.

On average, homes bought by foreigners had a price of €2,479 per square metre, a 5% increase. Non-residents paid the highest amounts, at €3,242/m², compared to €1,963/m² for foreign residents and €1,839/m² for Spanish buyers. Average prices paid by non-resident foreigners rose by 5.8%, by 9.4% for foreign residents, and by 7.4% for Spaniards.

Leading Nationalities in the Spanish Property Market

British buyers conducted the highest number of transactions overall (5,178), making up 7.8% of all foreign purchases. They were closely followed by Moroccans (5,154; 7.7%), Italians (4,397; 6.6%), Germans (4,351; 6.5%), and Romanians (4,339; 6.5%). Other non-EU buyers completed 8,213 transactions, accounting for 12.3% of the total.

Among foreign residents in Spain, Moroccans led property purchases (12.1% of the resident foreigner total), followed by Italians and Romanians. For non-resident foreign buyers, the most prominent nationalities were Dutch (12.6%), German (11.9%), and British (11.5%).

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