Foreigners' Mortgages in the Canary Islands Hit Record Highs

The Canary Islands account for 7.6% of foreign mortgage demand in Q3

The Canary Islands represent 7.6 % of all mortgages requested by foreigners, ranking just behind the Valencian Community (27.5 %), Andalusia (20.5 %) and Catalonia (14.6 %). The figures come from the latest Idealista/Hipotecas report, which places this region at the top of the foreign‑buyer ranking.

• Germany led the market in the third quarter of 2025, responsible for 17.1 % of foreign mortgage demand.
• The United Kingdom followed with 13.7 %, then France and Switzerland (both 8.7 %) and the Netherlands (8.3 %).
• The “top 10” also included the United States (5.1 %), Belgium (4.2 %), Ireland (4.1 %), Sweden (2.6 %) and Italy (1.9 %).

The remaining countries together accounted for 25.6 % of the demand, each contributing only a marginal share. Overall, foreign buyers represented 3.9 % of total mortgage applications.

The Current Figure Is the Highest in the Historical Series

“Germany’s leadership is accelerating month by month. In 2024 it was already the nationality that requested the most mortgages on Idealista/Hipotecas, but then it was only six‑tenths of a point ahead of the British (15.3 % vs. 14.7 %). Now the gap has widened to 3.4 percentage points. The current figure is, in fact, the highest in the historical series,” the study notes.

Last summer, French buyers also surged, reaching 8.7 % of the market—tied with Switzerland for the third‑highest share after a two‑point increase in just three months. Unlike Germany, French demand remains below its previous peak (the portal recorded over 10 % in the summer of 2023).

Meanwhile, the United Kingdom and the United States are losing momentum. Although British nationals still rank second in total mortgage requests in Spain, their current share of 13.7 % is the lowest of the last eleven quarters, breaking the upward trend observed earlier in 2025.

Average Mortgage Amount: Around €176,140

The Idealista/Hipotecas study also shows that foreign mortgage applications are mainly aimed at purchasing homes in coastal areas.

• The average mortgage amount requested by foreign buyers is approximately €176,140.
• 70.8 % of these loans are for amounts under €200,000.
• The average property price is about €244,000, a 2 % increase over the previous year.

Foreign borrowers in Spain have an average monthly income of €6,422, though there are notable differences between nationalities:

• Swiss and American applicants reported household incomes above €9,000 per month.
• Swedish borrowers averaged €7,350.
• Italian applicants had the lowest average, under €5,000 per household.

On average, foreign mortgage seekers are 43 years old, request financing for 75 % of the purchase price, and carry a relatively low debt burden of 25 %.