Canary Islands Property Market Leads National Surge
The number of registered home sales in the Canary Islands soared by 27.9% in November 2025 compared to the same period the previous year. This figure positions the archipelago as the Spanish region with the second-highest increase, just behind the autonomous city of Melilla, which saw a 33.3% rise.
Decade of Soaring Prices
This sales spike occurs against a backdrop of sustained price growth. According to data published by the Ministry of Housing last November, the price of housing in Spain has increased by over 40% in the last ten years, surpassing €2,000 per square metre. In the Canaries, the cumulative rise is nearly 52%, jumping from €1,318/m² in 2015 to almost €2,000/m² today—an increase of almost €680.
National Market Trends
According to preliminary results published this Thursday by the College of Registrars, across Spain as a whole, home sales increased by 7.1% in November 2025 year-on-year. Meanwhile, mortgages taken out for house purchases rose by 10.6%.
Based on projected data from 92.1% of analysed registers, the registrars’ statistics put the number of home sales in Spain in November at 58,533. This represents an uptick after the stabilisation observed since the summer months. The number of registered mortgages on homes reached 43,211, 10.6% more than in November the previous year.
Market Drivers: Cheap Credit and Short Supply
This activity is unfolding in a context defined by cheaper mortgage financing due to more attractive interest rates and a critical lack of available housing on the market. This shortage is failing to meet current demand and is putting upward pressure on prices.
Regional Performance Breakdown
The registrars’ data shows the largest increases in home sales occurred in Melilla (33.3%), the Canary Islands (27.9%), and Murcia (21.8%). The only declines were recorded in Madrid (-11.1%), Asturias (-5.9%), and the Balearic Islands (-0.3%).
For home mortgages, increases were seen in fourteen regions. Notable rises above 20% were in Cantabria (49.2%), Ceuta (32.7%), Valencia (24.1%), and Andalusia (20%). Declines were registered in Aragon (-9%); Navarre (-6.3%); Madrid (-5.1%); Melilla (-3.8%) and the Balearic Islands (-3.3%).
Total Property and Mortgage Transactions
Considering all registered property sales, not just homes, transactions grew by 8.1% in November to 114,758. Here, the largest increases were in Melilla (32.2%); Cantabria (31.9%); the Basque Country (28.5%) and Murcia (21.8%). Declines were in Madrid (-9.9%); Aragon (-1.4%) and the Balearic Islands (-0.9%).
Looking at total mortgages, beyond just those for homes, 56,118 were counted in November 2025—9.6% more than a year earlier. In absolute terms, the highest numbers of mortgages on all types of property were in Andalusia (11,287), Catalonia (8,957), and Madrid (8,101).
The largest increases in total mortgages were observed in Cantabria (64.4%); Castile and León (25.9%); Ceuta (21.5%) and the Basque Country (20.5%). The sharpest declines were in Melilla (-26.2%); Madrid (-8.6%) and Navarre (-5.3%).
A Shift in Market Momentum
The registrars underline that after an upward trend in the first part of the period, the market began to show gradual moderation with certain fluctuations. A slowdown in sales was observed from August, which appears to have been broken in the last month with a considerable rise. However, in recent months, the performance of housing transactions has been less favourable compared to the total market.
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