The surprising figure: only +7.4%
Let's start with the figure that may surprise many. In the resale market, the Canaries are among the regions with the gentlest price rise.
According to the latest Idealista report, asking prices for resale homes rose 7.4 percent year on year in the second quarter. For comparison: nationally it was 15.8 percent, and over 20 percent in some regions.
Why "moderate" does not mean "cheap"
A slower rise does not mean housing in the Canaries is cheap. The absolute price level is already high.
At around 3,297 euros per square metre, the Canaries are Spain's fourth most expensive region — only the Balearics, Madrid and the Basque Country lie above. The market thus starts from an already expensive baseline.
On top of that, the market runs "at two speeds". While big cities stabilise, other regions climb by double digits.
The two-speed picture: new builds versus resale
The key point for buyers is the split in the market. The resale market is rising comparatively moderately.
New builds, by contrast, rose above average in earlier official data — in part more strongly than the national average. Anyone wanting to build or buy new feels the price pressure more clearly.
Another factor is the strong interest from buyers from outside. That keeps demand high in sought-after locations, as the debate over purchases by non-residents has already shown.
Context: different sources, different figures
Property statistics measure different things, which is why the figures diverge. Idealista records asking prices in the resale market, while official indices from ISTAC and INE track actual purchase prices including new builds, and Fotocasa gives around €3,441/m² for buying in the Canaries. The values are therefore not directly comparable; what matters is the trend, not the single decimal. This article is general context, not investment or purchase advice.
What buyers and renters should watch now
If you want to buy, distinguish asking prices (as on Idealista or Fotocasa) from official purchase-price indices, and compare several sources. Note the difference between new builds and the resale market, as the two move differently. Since tighter credit conditions could dampen demand, patience and a sober look at financing pay off; independent advice from a gestor or a bank is wise for such a big decision. For robust regional figures, the official statistics from ISTAC and INE are the most reliable basis.