Property sales in the Canary Islands rose by 8.8% in March compared to the same month in 2024, according to new figures from Spain’s General Council of Notaries.
Across the country, housing transactions totalled 68,647, which is a 19.7% year-on-year increase, with notable growth seen in both apartments and detached villas. Apartment sales jumped 18% to over 52,000, while single-family homes surged by more than 25%, reaching nearly 16,000.
Regional Trends
The notaries' data shows a nationwide increase in property sales, though regional performance varied. The strongest growth was recorded in Castilla y León (51.3%), followed by La Rioja (32.4%), Murcia (27.8%), and Catalonia (27.7%).
The Canary Islands were among the regions with single-digit growth, alongside the Valencian Community (6.9%), the Balearic Islands (4.6%), and Navarre (0.7%).
Prices on the Rise
The average price per square metre in Spain rose by 7.3% to €1,826. Apartments saw a 9.1% jump to €2,069/m², while detached homes increased by 5.4% to €1,383/m².
Canary Islands property prices climbed by 6.9%, with some regions seeing even steeper increases, including Navarre (23.6%), Madrid (16.7%), and Murcia (15.1%). Extremadura was the only region where prices fell, albeit slightly (-0.1%).
Mortgage Lending Rebounds
The housing market recovery was also reflected in mortgage activity. Loans for home purchases rose by 31.8% in March, totalling 34,903 new mortgages. The average loan amount also increased by 9.5%, reaching €161,823.
Just over half (50.8%) of all home purchases were financed through mortgages, with the average loan covering 72.6% of the property price.
Mortgage activity was up in every region. However, the Canary Islands lagged slightly behind the national average, with a 20% increase in new loans. The biggest jumps were seen in Castilla y León (69%) and Asturias (51.5%).
The average mortgage amount also varied across the country. La Rioja saw the sharpest rise (36.4%), while the Balearic Islands were the only region to register a decline (-1.2%).
Despite some regional disparities, the data suggests growing confidence in Spain’s property market, especially in coastal and tourism-heavy areas like the Canary Islands.
