The Canary Islands registered the second-largest year-on-year increase in second-hand property prices across Spain in May 2025, with a rise of 18.2% compared to the same month last year. According to the latest property price index published by idealista, the average price per square metre in the archipelago reached €3,039.
National Trends and Record-High Prices
Across Spain, second-hand housing prices rose by 12.8% year-on-year, reaching a national average of €2,391 per square metre. This figure marks the highest recorded price since the portal began publishing data. Additionally, prices increased by 5.3% over the last three months and by 1.7% compared to April, indicating sustained upward momentum.
Autonomous Communities: General Overview
According to the analysis, every autonomous community recorded a year-on-year increase in property prices except Extremadura, where seller expectations fell by 1.3%.
The Community of Madrid led the national ranking with a 24.3% increase, followed by:
- Canary Islands (+18.2%)
- Region of Murcia (+18.1%)
- Valencian Community (+17.5%)
- Andalusia (+14.3%)
- Balearic Islands (+13.5%)
- Cantabria (+13.2%)
Several regions recorded below-average increases, including:
- Asturias (+10.9%)
- Basque Country (+8.6%)
- Catalonia (+6.5%)
- Aragon (+2.8%)
- Galicia and Castile-La Mancha (both +2.7%)
The most modest increases were found in:
- Navarre (+2.1%)
- La Rioja (+2.1%)
- Castile and León (+2.3%)
Most and Least Expensive Regions
In terms of price levels, the Balearic Islands remain the most expensive region, with an average of €4,905 per square metre, followed by:
- Community of Madrid (€4,234)
- Basque Country (€3,179)
- Canary Islands (€3,039)
- Catalonia (€2,560)
The most affordable communities were:
- Castile-La Mancha (€961)
- Extremadura (€982)
- Castile and León (€1,216)
Provincial Trends
The Community of Madrid again led the ranking by province, with a 24.3% annual increase in seller expectations. It was followed by:
- Santa Cruz de Tenerife (+19.4%)
- Region of Murcia (+18.1%)
- Alicante and Valencia (both +15.8%)
- Malaga (+15.3%)
Conversely, the sharpest declines occurred in:
- Ourense (–7.8%)
- Badajoz (–3.4%)
- Cuenca (–2.7%)
- Soria (–2.6%)
- Teruel (–1.9%)
The Balearic Islands reaffirmed their position as the most expensive province (€4,905/m²), ahead of:
- Madrid (€4,234)
- Guipúzcoa (€3,862)
- Malaga (€3,718)
- Santa Cruz de Tenerife (€3,224)
- Vizcaya (€3,043)
- Barcelona (€2,914)
At the lower end of the scale were:
- Ciudad Real (€741)
- Cuenca (€831)
- Jaén (€833)
Capital Cities: Sharpest Rises and Falls
Among provincial capitals, the steepest annual increases were recorded in:
- Madrid (+24.6%)
- Santander (+20.0%)
- Valencia (+19.5%)
- Oviedo (+18.6%)
- Málaga (+17.4%)
- Palma (+17.3%)
In contrast, the cities with the lowest increases were:
- Ceuta (+1.1%)
- Huesca (+2.3%)
- Tarragona (+3.2%)
- Badajoz (+3.6%)
- Murcia (+3.8%)
Only two cities registered declines:
- Girona (–1.0%)
- Ourense (–0.2%)
Most Expensive and Most Affordable Capital Cities
San Sebastián remains the most expensive capital, with prices at €6,025 per square metre, followed by:
- Madrid (€5,573)
- Barcelona (€4,895)
At the opposite end:
- Jaén was the most affordable capital city (€1,240), followed by:
- Zamora (€1,245)
- Lleida (€1,327)
