How big is the gap exactly?

In 2025 the Canaries added around one new home per three new households; supply covered about 40 percent of demand. Per year, around 10,000 new households face only about 2,500 homes.

How large is the overall deficit?

The business association CEOE estimates it at around 37,600 missing homes and attributes about 40 percent of the recent price rise to it.

Why is so little built?

Scarce and expensive building land, around half the archipelago under nature protection, the island location, and years of barely any publicly funded housing.

Forecasts point rather to growing pressure: over 100,000 additional households by 2041. A new housing plan 2026–2030 is in preparation.

Canaries housing crisis: 1 new home per 3 households

Building is happening — but nowhere near enough to keep pace with the number of new households. (Photo: illustration)

Let's start with the figure that captures it all. According to the statistics office INE, Spain's housing stock grew by just under 95,000 units in 2025 — while almost 239,000 new households were added at the same time. Nationwide, then, new supply covered only around 40 percent of demand; in the Canaries the balance was even slightly worse. Put another way: for every three new households, only about one new home was built. This is not a one-off slip but a persistent imbalance.

Why so little is built

The Canary business association CEOE has translated the imbalance into concrete annual figures: around 10,000 new households a year face only about 2,500 homes built. That yields an estimated deficit of around 37,600 homes — which the association says explains about 40 percent of the recent price rise on the islands. The causes are structural and typical of an island region: scarce and expensive building land (around half the archipelago is under nature protection), the island location itself, and years of barely any publicly funded housing. On top of that, only around 60 percent of demand is for permanent housing — the rest comes from foreign buyers and second homes.

The paradox: 30,000 empty new builds — and still a shortage

Here comes the figure that surprises many: despite the acute shortage, around 30,000 new, unsold homes sit empty in the Canaries. How does that add up? The answer lies in the detail — and it is the key to understanding the whole crisis. These empty homes do not solve the problem, because they are not where demand is, and not offered at prices that match island wages. The Banco de España sums it up in its annual report: it is not just about the sheer number of homes, but about affordable housing being built in the right place.

The pressure is not easing The projections point to no relief. According to INE estimates, the number of households in the Canaries grows from around 871,000 (2026) to just under 971,000 by 2041 — over 100,000 more in fifteen years. At the same time households are getting smaller: average size is falling and the share of single-person households is rising. That means even with a stable population, the number of homes demanded keeps rising. Without a markedly higher building pace, the gap is therefore likely to widen rather than close.

What it means for renters and buyers For those looking for a home, this gap explains why good offers often vanish within days and prices keep rising. Anyone buying or renting should factor in that supply varies greatly by region — and that the large stock of empty new builds does not mean affordable housing is available where you want it. The regional government has put a new housing plan 2026–2030 out for public consultation, providing for more supply, refurbishment of empty homes and targeted access for priority groups. Whether it noticeably lifts the building pace remains to be seen.

Frequently asked questions

How big is the gap exactly?: In 2025 the Canaries added around one new home per three new households; supply covered about 40 percent of demand. Per year, around 10,000 new households face only about 2,500 homes.
How large is the overall deficit?: The business association CEOE estimates it at around 37,600 missing homes and attributes about 40 percent of the recent price rise to it.
Why are there empty new builds anyway?: Around 30,000 new homes sit unsold, but do not solve the problem because they are not where demand is and not offered at affordable prices.
Why is so little built?: Scarce and expensive building land, around half the archipelago under nature protection, the island location, and years of barely any publicly funded housing.
Will it get better?: Forecasts point rather to growing pressure: over 100,000 additional households by 2041. A new housing plan 2026–2030 is in preparation.

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As of 24/06/2026. Sources include Atlántico Hoy, the Instituto Nacional de Estadística (INE), CEOE Canarias, the Banco de España (annual report 2025) and BBVA Research. Figures are estimates and approximations and may vary by source and methodology; the current official data is what counts. This article is general guidance, not investment or legal advice. Illustration.