Mark Stücklin
The latest Las Palmas Housing Market Report for H1 2025 is now out in the SPI Reports section — just days after the Housing Ministry released its data.
It takes a close look at the property scene across Gran Canaria, Fuerteventura, and Lanzarote, and the findings show a mix of steady fundamentals and shifting trends.
Grand Canary stands firm while the eastern islands cool
Overall sales in the province held steady at 7,260 transactions, roughly matching the ten-year average. But dig a little deeper and the picture varies by island: Gran Canaria posted a solid 5.5% increase in home sales, while both Lanzarote (-8.4%) and Fuerteventura (-13%) lost ground. Long-term, Gran Canaria’s market remains the powerhouse, up more than 40% on 2015 levels.
Foreign buyers still key, but slipping
Foreigners continue to play a major role, accounting for 29% of all purchases — but that share has fallen from the post-pandemic highs. Both resident expats and non-resident buyers pulled back slightly, suggesting that higher prices, reduced choice, and a still-uneasy international outlook may be weighing on sentiment.
Prices keep climbing, led by Mogán
House prices rose 7.9% on average year-on-year, with Gran Canaria once again leading the charge. Mogán stood out with an eye-catching 19% jump over the past year and 58% over a decade, underscoring strong demand for high-end coastal homes. Puerto del Rosario in Fuerteventura saw an 8.6% rise, while Teguise in Lanzarote managed a modest 4.1%.
Developers stir at last
After years of underbuilding, new housing starts surged 43% to 1,363 units — more than double the ten-year average and nearly four times higher than in 2015. That’s a welcome sign of life in a market where supply shortages have long been the norm.
The bottom line
Las Palmas remains one of Spain’s most resilient property markets, with Gran Canaria leading on both prices and volumes. The report suggests that lower interest rates and a rebound in construction could inject fresh energy into the market later this year — even as foreign demand continues to cool.
Read the full Las Palmas Housing Market Report H1 2025 (including Grand Canary, Fuerteventura & Lanzarote) now in the Reports section for detailed charts and island-by-island analysis. The Tenerife property market report has also been updated.
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Don’t stop here. SPI’s in-depth reports go beyond the headlines with hard data and analysis of key markets and housing trends in Spain. Visit the reports section to get the full picture.
