House prices in the Canary Islands continue to climb, surpassing €3,000 per square metre

The cost of purchasing property in the Canary Islands continues to rise steadily. In the second quarter of 2025, the average price of second-hand housing in the archipelago reached €3,100 per square metre, marking an annual increase of 8.1%, according to the Fotocasa Real Estate Index.

Historic Growth Across Spain

At the national level, the housing market recorded its sharpest year-on-year price increase in 20 years. As of June 2025, average prices rose by 14.9% compared to June 2024, and by 7.4% on a quarterly basis, reaching €2,673 per square metre.

“The main cause is the structural imbalance between supply and demand: demand is four times greater than the available housing supply,” explained María Matos, Director of Research and Spokesperson at Fotocasa.

Regional Trends: Quarterly Growth Across All Autonomous Communities

During the second quarter of 2025, all 17 autonomous communities experienced both quarterly and year-on-year increases in property prices. The regions with the highest quarterly growth were:

• Andalusia: +8.5%
• Valencian Community: +8.4%
• Region of Murcia: +8.4%
• Asturias: +8.1%
• Canary Islands: +8.1%
• Cantabria: +7.5%
• Catalonia: +5.5%
• Madrid: +5.2%
• Aragon: +4.1%
• Galicia: +3.9%
• … (continued across all regions)

Highest Property Prices by Region

When it comes to average housing prices by autonomous community, the Balearic Islands lead the ranking for the second consecutive month, reaching €5,048 per square metre. This marks the fifth time in six months that property values in the Balearic Islands have set new records.

The top regions in terms of housing cost are:

1. Balearic Islands – €5,048/m²
2. Madrid – €4,788/m²
3. Basque Country – €3,520/m²
4. Canary Islands – €3,100/m²
5. Catalonia – €3,080/m²
6. Andalusia – €2,559/m²
7. Valencian Community – €2,398/m²

Provincial Breakdown: Tenerife Sees Double-Digit Increase

Of Spain’s 50 provinces, 49 saw quarterly price increases (98%), and 47 registered annual increases (94%) during Q2 2025.

The provinces with the largest quarterly rises were:

• Soria: +12.2%
• Valencia: +11.3%
• Santa Cruz de Tenerife: +10.5%

The only province to record a quarterly decline was Zamora, with a modest drop of -0.7%.

Most Expensive Provinces in Spain

Four provinces now exceed the €4,000/m² threshold:

1. Balearic Islands – €5,048/m²
2. Madrid – €4,788/m²
3. Malaga – €4,204/m²
4. Guipúzcoa – €4,063/m²