What changes for foreign buyers?
Under the draft known so far, foreign buyers would generally need to have lived in the Canary Islands for ten years without interruption. If their stay was interrupted, the requirement would be 15 years, as government spokesman Alfonso Cabello confirmed on 22 October 2026.
According to the available information, the measure would affect non-resident foreigners. The sources do not confirm that already resident foreigners, EU citizens with Canarian residence or people who already own property would automatically fall under it.
No new purchase rule, transition period, fee or new application office has been published for visitors and holidaymakers. Prices, quotas, exemptions and proof requirements have also not yet been set.
How far has the process got?
The Canarian government has already sent the state a legislative proposal prepared by its legal services. President Fernando Clavijo Batlle wants the Council of Ministers to approve it before the end of the parliamentary term.
Both administrations were still working on the final wording and the right timing, Cabello explained on 22 October 2026. He named treatment in the Council of Ministers before 29 November 2026 as the political goal.
The plan is linked to the so-called “Decretos Mari Carmen”. During their debate in parliament, the central government promised the Canary Islands this commitment.
What is the Canarian government planning at EU level?
The Canarian government also proposed changes to the planned European Reglamento de Vivienda Asequible. Outermost regions, island territories and certain coastal regions would be allowed to set time-limited rules on the purchase, use or rental of residential property by non-resident foreigners.
In the Canarian government's view, the measures should be short-term and proportionate and go hand in hand with more affordable housing. The EU process continues, but the autonomous regions do not sit directly in the Council of the European Union.
Why does the government want to restrict purchases?
The Canarian government relies on an official figure: around one third of home sales in recent years involved non-resident foreigners. Together with short-term holiday rentals and a tight supply, this demand is said to push up prices and reduce the number of homes available to local people.
The government argues that the Canary Islands, as an outermost region, need special protection. A European framework should therefore secure access to housing for the resident population.
What applies to buyers today?
New purchase restrictions only apply once a rule has been published and adopted. Anyone who wants to buy property today as a foreigner without Canarian residence can do so under the existing rules.
What is still open?
The final legal text, the exact personal scope and the treatment of EU and non-EU nationals are still missing. The definition of the required residence, possible exemptions, proof procedures, transition rules, sanctions and a binding entry into force are also open.
The Canarian government had not named a start date by Saturday 24 October 2026. Anyone planning to buy property in the Canary Islands should follow publication in the Spanish official state gazette (BOE).