The Government of the Canary Islands has reiterated its urgent call for the European Union to intervene in regulating property purchases by foreign nationals, amid rising concerns over housing affordability and population imbalances across the archipelago.
Speaking during the final day of the General Assembly of the Islands Commission of the Conference of Peripheral Maritime Regions of Europe, held in La Palma, Alfonso Cabello, Deputy Minister of the Presidency, confirmed that the issue is a growing priority for the regional executive.
“Almost one in every four homes purchased in the Canary Islands is bought by foreigners,” Cabello stated. “This is not just something we need to monitor – it requires in-depth analysis and decisive action.”
A Growing Concern with Complex Impacts
The influx of foreign buyers, particularly in desirable coastal areas and popular tourist regions, is contributing to escalating property prices, which in turn puts pressure on local residents seeking affordable housing. Cabello warned that some areas of the Canary Islands have experienced population growth of over 100% in just two decades, while other regions are seeing declines.
“We must be able to moderate this growth, to ensure that the identity of the Canary Islands is not diluted,” he said. “This is about more than just economics – it’s about the cultural and social fabric of our communities.”
Proposals for EU-Led Regulation
Cabello proposed the introduction of a residency law or other legal mechanisms to regulate non-resident property ownership. While acknowledging the legal and political complexity of such measures, he stressed that this debate has already begun within the European Union and must now be accelerated.
The President of the Canary Islands, Fernando Clavijo, is expected to meet with a European Commissioner in Brussels in mid-May, where he will push for the inclusion of the Canary Islands’ unique circumstances in the EU’s forthcoming strategic housing plan.
“We need a solution that reflects the singular challenges faced by island territories,” Cabello explained. “It won’t be easy, but we must start this conversation now.”
The ‘Responsible Islands’ Initiative
Cabello was in La Palma to present the ‘Responsible Islands’ initiative, a strategic platform focused on the analysis and forecasting of issues affecting islands across Europe – including demographic pressure, tourism intensity, and housing demand.
This initiative aims to provide a space for research, planning and policymaking, tailored to the realities of remote and insular regions like the Canary Islands.
A Call for Residency Limits and Fair EU Funding
Echoing Cabello’s concerns, Nieves Lady Barreto, Councillor for Territorial Policy, also called for the development of a law restricting residency rights for individuals who do not live permanently on the islands. She argued that such legislation would help alleviate housing shortages and reduce the burden of overpopulation in high-pressure zones.
“It’s a complex task, but it’s not impossible,” said Barreto. “We must get this law passed at the European level.”
She also urged that the allocation of future EU cohesion funds take into account the distinctive challenges faced by the Canary Islands, arguing that a one-size-fits-all approach would fail to address the real pressures being experienced.
In summary, the Government of the Canary Islands is sounding the alarm over housing market trends that threaten to undermine social equity and territorial balance. With rising foreign property ownership and growing calls for EU involvement, the region is making a strong case for tailored legislation and funding mechanisms that reflect its insular realities.
