Property purchases by foreigners fall in the Canary Islands, but prices rise by 14%
Property purchases by foreign buyers in the Canary Islands fell by 7.7% during the first half of 2025, as prices soared by 14.1%, according to new data released by Spain’s General Council of Notaries. The Archipelago was one of only four regions to record a decline in sales, alongside the Balearic Islands, Navarre, and Valencia.
Across Spain as a whole, foreign home purchases rose by 2% year-on-year, reaching 71,155 transactions, led by British, Moroccan, and German buyers. However, their overall share of the Spanish housing market dipped slightly to 19.3%, compared to 20.3% in the same period of 2024.
In the Canaries, prices remain among the highest in Spain, with the average cost for properties bought by foreigners standing well above the national mean of €2,417 per square metre, the third-largest price rise after Madrid (17.1%) and La Rioja (16.3%).
The report also highlights that non-resident foreigners continue to pay a significantly higher price of €3,126/m² on average, compared with foreign residents (€1,912/m²) and Spanish nationals (€1,809/m²).
Who’s buying?
Buyers from the United Kingdom still top the list with 5,731 transactions, followed closely by Morocco (5,654) and Germany (4,756). Purchases by Dutch, Belgian, and French nationals also remain strong, while those by Russian citizens plummeted 17.4%.
In contrast, buyers from the United States, the Netherlands, and Portugal sharply increased their activity, with Portuguese purchases up by nearly 23%.
In terms of prices, American buyers lead the rankings, paying an average of €3,465 per square metre, followed by Swiss, Swedish, and German nationals. At the lower end, buyers from Morocco, Romania, and Ecuador paid less than €1,400/m².
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