The Canary Islands are an archipelago in the Atlantic Ocean that is part of Spain. Each island has its own appeal: Tenerife is a center of tourism and luxury real estate, Gran Canaria is more of a business and cultural hub, and Fuerteventura is primarily known for its expansive beaches. Villas for sale in the Canary Islands are increasing, as is the demand for local real estate, and the main buyers are foreigners.
Peculiarities of buying a house in the Canary Islands
The main advantage of local real estate is its accessibility. Purchases are processed through a notary, and foreigners require a NIE (Número de Identificación de Extranjero), which can be obtained in 1-2 weeks at a police station or Spanish consulate.
Other advantages of Canary Islands real estate:
- Types of real estate. Houses for sale in the Canary Islands aren't limited to villas and townhouses. Bungalows and cottages are also available in both resort areas and rural areas.
- Investment attractiveness. The islands are a popular tourist destination. Average occupancy rates in tourist areas (Costa Adeje, Playa de las Américas) reach 80% per year.
- Infrastructure. The islands have a well-developed network of highways, air and ferry services.
House prices in the Canary Islands
Canary Islands property prices depend heavily on the island. In 2024, the average price per square meter in Tenerife increased by 14.4% to €2,827, while in Gran Canaria it reached €2,600.
Average cost of a house in the Canary Islands:
| Property type |
Average price (€) in 2023 |
Average price (€) in 2025 |
| Villas |
1,200,000–2,800,000 |
1,400,000–3,500,000 |
| Cottages |
280,000–550,000 |
320,000–650,000 |
| Townhouses |
230,000–450,000 |
270,000–550,000 |
| Bungalow |
180,000–350,000 |
220,000–450,000 |
| Chalet |
350,000–700,000 |
450,000–800,000 |
| Duplexes |
300,000–600,000 |
350,000–700,000 |
| Houses by the sea |
700,000–1,800,000 |
800,000–2,200,000 |
Popular areas to buy a home in the Canary Islands
Demand for luxury properties is high in Costa Adeje (Tenerife). The average price per square meter is €3,500. This price is driven by the area's prestige, as it is home to golf clubs (Golf Costa Adeje), yacht marinas, and beaches. Playa de las Américas is considered a more affordable option in Tenerife — a tourist hub with a vibrant nightlife, beaches, and average housing prices of €2,800 per square meter.
Also popular:
- Puerto de la Cruz (Tenerife). A northern city with a mild climate (average temperature 21°C) and verdant landscapes. Cottage prices start at €300,000.
- Maspalomas (Gran Canaria). An area with sand dunes and luxury properties from €1.2 million.
- Costa Blanca (Lanzarote). A tranquil area with a volcanic landscape. Homes here are priced from €250,000, but strict building regulations limit the choice.
