Foreign Interest in Canary Islands Property Surges
The interest of foreigners, particularly Europeans, in the Canary Islands extends beyond tourism. The purchase of homes as second residences remains a contentious issue for both the island’s inhabitants and its authorities. Market pressure from abroad continues to rise. According to data from Idealista for the second quarter of 2025, Santa Cruz de Tenerife ranks as the fourth Spanish province with the highest foreign demand for home purchases, with 25.8% of visits coming from abroad. Meanwhile, Las Palmas holds the sixth position at 20.2%.
Leading Nationalities
While the British have traditionally been the most keen on buying properties in Spain, this trend appears to be shifting in the Canary Islands. Germans are currently the most interested in acquiring homes in the archipelago, with 25% of visits in Santa Cruz de Tenerife and 24% in Las Palmas. They are followed by the British and Italians, who occupy the second and third spots, accounting for between 10% and 14% of visits. This purchasing profile enhances the connection of the islands to European tourism, positioning them as a primary residential attraction for EU citizens seeking second homes for holidays, relocating to the Canary Islands before or after retirement, or splitting their time throughout the year.
Regulating Purchases
This foreign interest in the real estate market has prompted political action. The regional government and the Federation of Municipalities of the Canary Islands (Fecam) have agreed to establish a working group to create tools enabling councils to regulate access to housing. The aim is twofold: in some cases, to facilitate availability and population retention; in others, to limit foreign purchases. Furthermore, the President of the Canary Islands, Fernando Clavijo, emphasised this week in the regional parliament that the Spanish government “is now considering” the potential to restrict home purchases by non-residents in the EU’s outermost regions, including the Canary Islands. Additionally, plans for the first-ever EU housing conference are underway. However, the idea of limiting foreign property purchases is not new in Europe. In Malta, citizens must prove at least five years of residency to freely acquire second homes. In Denmark, individuals are required to have permanent residency or to have lived in the country for five consecutive years to buy any property, be it a primary or secondary residence.
National Overview
On a national scale, Idealista notes that the provinces attracting the most visits from international buyers are Alicante (33.2%), the Balearic Islands (31.5%), and Málaga (27.1%). Following these are Santa Cruz de Tenerife (25.8%), Girona (24%), and Las Palmas (20.2%). Further down the list are Almería (17%), Murcia (16%), and Granada (15.4%). Exceeding 10% are Tarragona (14.2%), Castellón (13.7%), Valencia (12.8%), Huelva (12.4%), and Cádiz (11.9%). Below the 10% threshold are several provinces, including Barcelona (9.5%), Sevilla (5.8%), Gipuzkoa (5.3%), and Madrid (4.6%).
