The Canary Islands have established themselves as a benchmark in the high-end segment, trailing only behind the Balearic Islands and Madrid. This rise marks a significant achievement, as it has managed to surpass traditionally strong regions in this sector, such as the Costa del Sol.
A report by The Simple Rent, a network specializing in the premium market, highlights that the Canary Islands are no longer an emerging destination but a consolidated market with considerable growth potential. The average price per square meter in this niche is around 3,200 euros, and the majority of buyers are foreign nationals.
International demand is a key factor, with 29.9% of total home acquisitions by foreign populations in the second quarter of 2025, doubling the national average of 14.1%, according to the College of Registrars of Spain. Furthermore, the rise of remote work and the attractive winter climate of the islands contribute to drawing digital nomads and high-net-worth buyers.
The demand from international buyers is one of the factors driving the luxury real estate market in the Islands.
Although prices in the Canarian luxury market are high for local buyers, they are more competitive compared to other European luxury real estate hubs. While early 2026 has not shown the same dynamism as the pre-pandemic period, the sector has not been affected by the elimination of Golden Visas, which allowed residency in exchange for a real estate investment of at least 500,000 euros.
The Government of Pedro Sánchez announced the end of these visas in 2024, a measure that impacted 1,784 foreign millionaires who used them in the Canary Islands. Currently, the regional Government is seeking a safe conduct from the European Union to restrict property purchases by foreigners, aiming to mitigate price escalation. However, real estate experts suggest that this limitation would have a limited effect on the luxury segment, as they are distinct markets.
