Apartments in the Canary Islands are the most affordable way to enter the Spanish real estate market. The investment threshold is lower than for villas and houses, but the yield is similar at 5-7% per annum. This is especially true given the constant flow of tourists, even in winter, and the popularity of apartments for sale to foreigners in the Canary Islands.
Benefits of buying apartments in the Canary Islands
The local real estate market is characterized by high demand and low supply, which means investors have the opportunity to profit from rising prices and high rental rates. But that's not all, apartments for sale in the Canary Islands is beneficial for the following reasons:
- Housing in a mild climate. The annual temperature, even taking into account seasonal variations, is between 16–28 °C, without extreme heat or cold.
- High rental yield. The island is visited annually by approximately 14 million tourists looking for rental accommodation.
- Rising property values. Apartment prices in the Canary Islands increased by 4.2% on average between 2023 and 2025, particularly in Tenerife and Gran Canaria.
Apartment prices in the Canary Islands
The cost of apartments in the Canary Islands in Tenerife is €2,150, in Gran Canaria – €1,950, in Lanzarote – €1,700. The secondary market remains popular, but new builds in resort areas are more attractive to investors.
Average apartment prices in the Canary Islands:
| Apartment type |
Average price (€, 2023–2025)
|
Characteristics
|
| Studio |
120,000–180,000 |
30–40 m², popular in Los Cristianos |
| One-room apartment |
160,000–240,000 |
40–60 m², in demand in Puerto de la Cruz |
| Two-room apartment |
220,000–360,000 |
60-90 m², suitable for families, Costa Adeje |
| Three-room apartment |
320,000–550,000 |
90–120 m², popular in Las Palmas |
| Penthouse |
450,000–1,200,000 |
100–200 m², panoramic views, Mogan |
| Multi-level |
600,000–2,000,000 |
150+ m², luxury complexes by the sea |
| By the sea |
280,000–1,800,000 |
First line, high demand for rent |
Popular areas of the Canary Islands for buying apartments
Costa Adeje (Tenerife) is the most popular area. Residential complexes here offer two-bedroom apartments starting from €320,000. High rental demand ensures monthly incomes of up to €1,500 for a two-bedroom apartment.
Other popular areas:
- Los Cristianos (Tenerife). A resort town with affordable real estate. Studios start at €130,000, and one-bedroom apartments start at €160,000.
- Puerto de la Cruz (Tenerife). A northern city suitable for family living, the average price for a two-bedroom apartment is €230,000.
- Mogan (Gran Canaria). A city with a large port and numerous beaches. Prices for seaside apartments start at €270,000, with rental income around €1,200/month for a two-bedroom apartment.
- Las Palmas (Gran Canaria). The island's capital, with average prices for three-bedroom apartments starting from €300,000.
