Cárdenas Inmobiliaria pointed out this Thursday that in 2025 the increase in prices in the real estate market in the south of Gran Canaria will moderate, with a contained increase of 3% to 5%. The expert of the company specialized in purchases by non-residents, Raúl Sánchez Brunh, San Bartolomé de Tirajana has experienced a decrease of 40,6% since 2022, going from 1.758 transactions to 1.044 in 2024. Mogán has registered a drop of 21,9%, going from 979 transactions.
San Bartolomé de Tirajana and Mogán have registered a 4,5% drop in the number of sales transactions, driven by the lack of available supply on the market.
The latest technical report by Cárdenas Inmobiliaria on the real estate market in the south of Gran Canaria from January 2025, to which Maspalomas24H has had access, exposes the theory of the left-wing parties on the price of housing in the south of Gran Canaria.
While at the end of 2024 the company asked investors to be cautious when buying houses that should be used for holiday rentals, in 2025 it has downplayed the impact of central government regulations that point to greater tax pressure on the purchase of property by foreigners.
He points out that "in the specific case of the Canary Islands, our data indicate that of the total number of foreign buyers, just over half are non-residents" and that "among non-resident non-EU citizens, the British are the main group, followed by the Russians." Therefore, he points out that "we estimate that a measure of this type could impact around 2.000 homes a year, which is equivalent to approximately 8% of the total properties sold in the archipelago."
It is important to note, says Cárdenas Inmobiliaria, that non-resident buyers tend to have greater purchasing power "and tend to acquire properties in the best coastal areas, where prices are higher." Therefore, "this measure would be ineffective in addressing the shortage of affordable housing, and in general will have a fairly limited impact on the market."
The property market in the south of Gran Canaria has experienced significant fluctuations in recent years, with notable variations in price per square metre depending on location and type of land.
According to Cárdenas Inmobiliaria, in 2024, in prominent municipalities such as San Bartolomé de Tirajana, which includes prominent tourist areas such as Maspalomas and Meloneras, the average price per square metre reached €3.899/m² in June 2024. In particular, in the Maspalomas-Meloneras area, a notable increase was observed, reaching around €4.716/m² in June 2024, compared to €3.792/m² recorded in June 2023.
On the other hand, in Mogán, the average price per square metre was €3.617/m² in June 2024.
As for rural land, the Canary Islands have the highest prices in Spain, with an average of €8,33/m² in 2022. This value is attributed to the scarcity of agricultural land, the environmental protection of much of the territory and its suitability for specific crops such as bananas or vineyards.
Despite the general downward trend in some areas, areas such as Maspalomas-Meloneras have seen significant price increases. According to local real estate experts consulted by Maspalomas24H, property prices are expected to continue to rise due to high demand and limited supply available.
At a regional level, the Canary Islands closed 2023 with an average sales price of €2.421/m², marking a historic record in the sales market.
