Property sales fell by 11% in October in the Canary Islands
Property sales in the Canary Islands fell by 11% in October compared with the same month in 2024, making the archipelago the second worst-performing region in Spain for housing transactions, according to figures published on Monday by the National Statistics Institute (INE).
A total of 2,287 home sales were completed in the Canary Islands in October, down from 2,516 transactions recorded a year earlier. This decline marks a sharp contrast with the situation in October 2024, when property sales in the islands rose by almost 45% compared with October 2023, highlighting how quickly the market has cooled.
One of the lowest rates per resident
The INE report also shows that the Canary Islands had one of the lowest numbers of property sales per head of population in Spain.
With 121 transactions per 100,000 residents, the islands ranked second from bottom, only slightly ahead of Navarra, which recorded 120.
Spain-wide figures less severe
At national level, the slowdown was far less pronounced and only Madrid recorded a bigger drop, with sales down 11.7% year on year.
Across Spain as a whole, home sales fell by 2.5% year on year, a much smaller decline than that seen in the Canary Islands.
Mostly free-market and second-hand homes
Of all the properties sold in the Canary Islands in October:
- 81 were protected (social) housing
- 2,206 were free-market homes
By type of property:
- 1,628 were second-hand homes
- 659 were newly built properties
The figures highlight that the Canary Islands market continues to be dominated by resale homes and private housing, despite the recent downturn in activity.
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