Canary Islands housing market faces high vacancy and rising new home prices

The Canary Islands is facing significant challenges in its housing market, characterized by high vacancy rates and rising costs for new properties. According to National Statistics Institute (INE) data, approximately 19.42% of the archipelago's residential stock—roughly 211,452 homes—is reported as vacant. This figure places the region among those with the highest proportion of empty homes in Spain.

Due to concerns regarding the reliability of current statistics, the regional government has tasked the public company Visocan with conducting an independent study. This report, expected to be completed during 2026, aims to provide a precise measurement of the actual magnitude of the vacancy problem to better inform public policy.

Simultaneously, the cost of new housing in the Canary Islands is rising faster than the national average. During the second quarter of 2026, new home prices in the islands saw a year-on-year increase of 11.9%, significantly outpacing the Spanish national average of 7.4%. While second-hand home prices also rose by 11%, this increase remained below the national average of 12.9%.