Second-hand home prices keep rising in the islands

Used‑home prices have hit record highs in the Canary Islands, climbing 10.7% in 2025 to €3,150 per square metre, according to Idealista’s latest price index.

• In the province of Las Palmas, prices rose 9% to €2,888 / m².
• In Santa Cruz de Tenerife, they increased 10.9% to €3,327 / m².

At the national level, the average price jumped 16.2% year‑on‑year during the last three months of 2025, marking the strongest rise since the housing bubble and setting a new historic high of €2,639 per square metre.

• This increase surpasses the 15.3% growth recorded in the third quarter of the year.
• On a quarterly basis, prices rose 4.8% in the last three months compared with the previous quarter.

“The main cause of the problem is the under‑production of housing,” said Idealista spokesperson Francisco Iñareta, adding that “we need to see cranes back in the urban landscape of many cities.”

The Bank of Spain estimates a shortfall of 700,000 homes. Iñareta warns that “the gap remains open” because nearly twice as many households are being created as new homes, urging the activation of mechanisms such as the Land Law to accelerate the construction of affordable housing that meets new needs.

Regional Increases

• Over the past 12 months, prices rose in all autonomous communities.

  • Highest growth: Region of Murcia (+23.6%), followed by Community of Madrid (21%), Andalusia (18.9%), Cantabria (18.6%), Valencian Community (17.3%), Asturias (16%), Basque Country (11.2%), Catalonia (11.1%) and the Canary Islands (10.7%).
  • Lowest growth: Navarre (+2.4%), then Galicia (4.9%), Extremadura (5%), Castile and León (6.5%), Aragon (7.5%), La Rioja (8.1%), Castile‑La Mancha (8.8%) and the Balearic Islands (9.6%).

• Most expensive region: The Balearic Islands, with €5,160 per m², the highest price on record for Idealista, followed by Madrid (€4,562/m²), the Basque Country (€3,421/m²) and the Canary Islands (€3,150/m²).

• Cheapest regions: Extremadura (€1,035/m²), Castile‑La Mancha (€1,041/m²) and Castile and León (€1,296/m²).