The residential market in San Fernando de Maspalomas reflects one of the most profound economic transformations in southern Gran Canaria since the beginning of the last decade. Starting with data recorded in early 2011, when the average price per square meter stood at €2.451 in January after experiencing an 8,7% monthly increase, the urban center of San Bartolomé de Tirajana began a prolonged period of contraction. This fifteen-year trend has resulted in a revaluation of over 70% since the lows of the previous crisis, significantly increasing the cost of homeownership in an urban environment severely limited by the scarcity of available land between the GC-1 highway and the ravines of southern Gran Canaria.
That phase of real estate adjustment led to a gradual decline in values, hitting rock bottom throughout 2013 and 2014, periods in which the price per square meter plummeted to 1.750 euros in December 2013 and reached a negative year-on-year low of 21% in March 2013, reflecting the impact of the financial crisis on the local residential fabric.
The recovery in unit prices began to consolidate gradually from 2016 and 2017. After closing 2016 with monthly averages anchored at €1.703 per square meter in December, the market surpassed the €1.800 mark in mid-2017 and exceeded €2.000 per square meter by the end of 2019, a year that concluded with an average price of €2.072 per square meter in December and positive year-on-year growth of around 5,1%. This sustained increase reflected investor appetite for a key residential area for workers and families not directly involved in the strictly tourist-driven coastal strip.
The real upward turning point came after the recession triggered by the global health crisis, propelling an unprecedented surge between 2022 and 2026. While in September 2022 the price stood at exactly €2.000 per square meter, representing a year-on-year increase of 7,4%, buying pressure drove prices skyrocket in the following years. By December 2023, the average had climbed to €2.297 per square meter, experiencing a year-on-year increase of 11,4%. This trend intensified dramatically in 2024 and 2025, registering year-on-year growth peaks of up to 18,8% in the summer of 2024 and consolidating an annual increase of 12% in August 2025, when the price per square meter reached €2.716.
The peak of this inflationary cycle materialized during the first three quarters of 2026. After starting January with an average price of €2.821 per square meter and a 4% monthly increase, residential prices surpassed the historic mark of €3.000 per square meter in February, a month that saw a 3,8% monthly increase and a 15,6% year-on-year rise. The technical peak was reached in March and April of 2026, placing the average price at €3.035 per square meter, with record year-on-year variations of 16,4% and 13,2%, respectively. By the end of summer 2026, after slight monthly fluctuations of -0,7% in June and a 0,4% increase in July, the price stabilized at exactly €3.000 per square meter in August and September of 2026, accumulating a 10,5% year-on-year increase.
