The Canary Islands have experienced a significant rise in the sale and purchase of homes, marking a 36.6% increase in September 2024 compared to the same month last year. This figure reflects a steady recovery in the housing market, with three consecutive months of growth. The total number of transactions for September reached 2,137, making it the second-best September for home sales in the historical data for the region.
Comparative Growth
On a national level, home sales grew by 41.49%, showcasing a similar upward trend across Spain. Compared to August, transactions in the Canary Islands saw a modest 3.9% increase, indicating sustained momentum in the property market.
Breakdown of Home Sales
Of the 2,137 home sales and purchases in the Canary Islands during September:
- 2,077 involved freehold properties.
- 60 were for officially protected properties.
- Based on the age of the properties:
- 631 transactions involved new builds.
- 1,506 transactions involved resale properties.
Total Housing Transactions
In September, a total of 3,166 housing transactions were recorded across the Canary Islands. These included:
- 2,137 sales and purchases.
- 450 inheritances.
- 89 donations.
- 34 exchanges.
Urban and Rural Property Transfers
Beyond housing, the total number of urban properties transferred reached 5,168, consisting of:
- 3,397 sales and purchases.
- 747 inheritances.
- 148 donations.
- 42 exchanges.
- 834 other types of transactions.
For rural properties, 605 transactions were recorded, including:
- 278 sales and purchases.
- 160 inheritances.
- 41 donations.
- 3 exchanges.
- 123 other types of transfers.
Key Insights
The sustained growth in home sales reflects the robust recovery of the property market in the Canary Islands. The predominance of resale properties in the transaction data suggests a high demand for existing homes, while new builds also play a significant role in the region’s housing market. The record-breaking figures for September underline the region’s appeal as a desirable location for homebuyers, contributing to its economic recovery and development.
