The property market across Canary Islands continues to experience strong upward pressure, with pre-owned housing prices increasing by 18.6% year-on-year in April, according to the latest data published by Fotocasa. This places the archipelago among the regions with the most significant price growth in Spain, reflecting a broader trend of intensifying demand and limited supply nationwide.
Strong growth across Spain pushes prices above €3,000 per square metre
At a national level, the rise in housing prices has been even more pronounced. According to Fotocasa’s Property Index, pre-owned homes in Spain saw a 2.5% increase compared to the previous month and a 21.9% rise year-on-year, surpassing the €3,000-per-square-metre threshold for the first time.
This sustained growth has driven the average price of a typical home in Spain to €247,082 in April. Over the past year alone, the value of an 80-square-metre property has increased by €44,389, rising from €202,694 to its current level.
María Matos, Director of Research and spokesperson at Fotocasa, described the current situation as a period of “maximum tension” in the housing market, noting that the year-on-year increase recorded is the highest in the historical data series. She also highlighted that buyer demand remains exceptionally strong, while the supply of available housing continues to fall short of absorbing that demand.
Canary Islands reach new record price levels
The Canary Islands not only recorded strong growth, but also reached an all-time high in price per square metre, standing at €3,441 in April. This places the region among the four autonomous communities in Spain to hit record levels, alongside Andalusia (€2,969), the Valencian Community (€2,787), and Madrid (€5,429).
Despite these increases, Madrid and the Balearic Islands continue to lead the ranking for the highest price per square metre in the country, with €5,429 and €5,352 respectively.
Widespread increases across regions and provinces
The upward trend in property prices is widespread across Spain. All 17 autonomous communities recorded year-on-year increases in April, with 14 of them exceeding 10%.
Among the regions with the highest growth rates are:
- Region of Murcia: +32.3%
- Asturias: +25.0%
- Andalusia: +23.0%
- Cantabria: +23.0%
- Valencian Community: +21.7%
- Canary Islands: +18.6%
- Madrid and Castile-La Mancha: +17.4%
At the provincial level, 96% of provinces experienced price increases, with particularly sharp rises in Murcia, Ávila, Valencia, Asturias, A Coruña, Cantabria and Guadalajara, all of which exceeded 20% growth. Only Teruel and Cuenca recorded year-on-year declines.
Rising prices also reshape the market in Madrid
The upward pressure is also clearly visible in Madrid, where pre-owned housing prices increased across nearly all districts. Some of the most notable rises were recorded in Villa de Vallecas (+30.4%), Villaverde (+29.6%) and Usera (+26.1%), followed by Carabanchel and Latina, both exceeding 20%.
High-end areas continue to command particularly elevated prices, with several districts surpassing €8,000 per square metre. Barrio de Salamanca leads with €10,893, followed by Chamberí (€9,428), Retiro (€8,756) and Chamartín (€8,230).
A market under pressure
Overall, the data reflects a property market under sustained pressure, driven by strong buyer demand and a persistent shortage of available housing. The Canary Islands, in particular, remain one of the regions most affected by this imbalance, with prices continuing to climb as competition for housing intensifies.
This scenario suggests that, unless supply increases significantly, upward pressure on prices is likely to continue in the coming months, further shaping the dynamics of the housing market both in the Canary Islands and across Spain.
