More than 104,000 primary residences in the Canary Islands, equivalent to 14.6% of the region’s total housing stock, are currently owned by large-scale landlords, according to figures shared in the Canary Islands Parliament yesterday (Tuesday).
Sebastián Franquis, spokesperson for the Socialist Party (PSOE), raised concerns about what he described as a growing “speculative dynamic” in the housing market across the archipelago.
During a session of the regional parliament, Franquis highlighted that just four people own over 620 properties between them, while 73 companies collectively control more than 19,000 homes. He argued that this level of concentration is “undoubtedly impacting the housing market” and contributing to affordability issues faced by local residents.
In response, Franquis announced that the PSOE will be putting forward draft legislation aimed at addressing this imbalance. The proposal would see large property holders required to contribute to a fund dedicated to investing in public housing across the islands.
The move is part of a broader push by the PSOE to regulate the housing market and ensure greater access to affordable homes, particularly in high-demand and tourist areas where residents are increasingly priced out by rising rents and property speculation driving up purchasing prices.
