property sales canary islands february 2026

Property sales plunge 21% in the Canary Islands during February 2026

Canary Islands property sales plummet 21% in February

Home sales in the Canary Islands fell by 21% in February 2026 compared with the same month in 2025, while prices rose by 3.7%, according to figures from the General Council of Notaries. Across Spain as a whole, property sales dropped by 7.7% year-on-year in February, totalling 55,228 transactions. Meanwhile, the number of mortgages granted for home purchases edged up by 0.2% to 30,109 deals.

National price trends

The average price per square metre nationally stood at €1,977, representing a 5.4% annual increase. The strongest price rises were seen in Cantabria (+18.3%), the Valencian Community (+17.4%) and Castilla-La Mancha (+11.6%). Breaking the figures down by property type, apartment sales fell by 9.4% year-on-year to 41,407 units, while detached home sales dropped by 2.3% to 13,821 units. Apartment prices rose by 7.7% compared to a year earlier, reaching €2,292 per square metre, while the average price of detached homes increased by 2.6% to €1,458 per square metre.

Regional breakdown of sales

Property sales fell in 14 of Spain’s autonomous communities, with particularly sharp declines in the Canary Islands (-21%), Navarre (-19.2%), the Balearic Islands (-18.6%) and Asturias (-17.6%). More moderate declines were recorded in Aragon (-6.4%), the Community of Madrid (-6%), the Basque Country (-5.6%), Extremadura (-3.6%) and Castilla y León (-1%). In contrast, just three regions posted an increase in the number of transactions: Castilla-La Mancha (+14%), Cantabria (+6.5%) and La Rioja (+1.3%).

Price variations across the regions

The price per square metre rose in twelve autonomous communities and fell in the remaining five, marking the first time since August 2024 that five or more regions recorded year-on-year price declines. The falls were seen in Navarre (-13.7%), Extremadura (-3.5%), the Region of Murcia (-2.8%), Galicia (-2.5%) and the Balearic Islands (-1.4%). Double-digit price increases were observed in Cantabria (+18.3%), the Valencian Community (+17.4%), Castilla-La Mancha (+11.6%), Asturias (+11.4%), Andalusia (+9.8%), Castilla y León (+9.6%), the Community of Madrid (+9.3%), Aragon (+7.4%), the Basque Country (+6.8%), Catalonia (+4.3%) and the Canary Islands (+3.7%).

Mortgage lending figures

In February, mortgages for home purchases in Spain grew by 0.2% year-on-year, reaching 30,109 loans, while the average mortgage amount rose by 6.3% to €175,904. Some 54.5% of home purchases were financed by a mortgage. Among these financed purchases, the mortgage amount represented on average 72.4% of the purchase price.

Mortgage lending for home purchases increased in eight autonomous communities but fell in Navarre (-15.9%), Asturias (-15.9%), the Canary Islands (-12.3%), Andalusia (-3%), the Valencian Community (-3%), Aragon (-3%), Extremadura (-2.7%), the Basque Country (-2.4%) and Galicia (-0.1%). The regions with growth rates exceeding the national average were Castilla-La Mancha (+13.8%), Cantabria (+7.3%), the Community of Madrid (+6.6%), the Balearic Islands (+4.5%), La Rioja (+4.2%), Castilla y León (+3.9%), Catalonia (+1.5%) and the Region of Murcia (+0.7%).

Average mortgage amounts on the rise

As for the average amount of new mortgages taken out for home purchases, the trend was largely upward, increasing in 14 regions and declining in the remaining three. Notable increases were seen in Aragon (+21.1%), the Canary Islands (+20%), the Valencian Community (+16.9%) and La Rioja (+15.3%), while decreases were recorded in Navarre (-5.3%) and the Basque Country (-3%).

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