The construction sector in southern Gran Canaria has closed out a historic 2024, marking a turning point in the generation of new supply. According to the latest data on building permits for new construction and renovations from Tinsa, the municipalities of Mogán and San Bartolomé de Tirajana have experienced explosive growth, albeit with very different structural nuances that paint a picture of two-speed investment.
The municipality of San Bartolomé de Tirajana processed 90 visas, a 157,1% increase compared to 2023. Unlike its neighbor Mogán, San Bartolomé shows solid structural growth: a 5-year CAGR for visas of +21,5%, demonstrating a sustained upward trend. Visas surged by 35,1% in 2024, reaching 312 applications.
The contrast between the two is clear: while San Bartolomé de Tirajana faces strong demand pressure that is driving prices up and accelerating sales, Mogán is betting on a massive renovation of its accommodation and residential infrastructure to defend its status as a "premium" area. For investors, the key factor lies in the potential for recovery: San Bartolomé de Tirajana is still 20,2% below its peak (42,0% when adjusted for inflation), indicating a potentially greater upside potential than Mogán in the medium term.
Mogán has shaken up the market by registering 110 building permits in 2024, representing an astronomical increase of 243,8% compared to the previous year. This figure represents the largest acceleration of construction activity in the province of Las Palmas.
Despite the impressive figure, analysts warn that this is a temporary recovery. The CAGR (compound annual growth rate) for the last five years remains negative (-11,3%), suggesting that the municipality is emerging from a long period of stagnation in new project development. Nevertheless, with a price of €2.212/m²—the highest in the comparison—Mogán consolidates its position as the most resilient asset and is close to its historical lows (-10,2%). While Mogán stands out for its percentage growth in building permits, San Bartolomé de Tirajana is notable for its consistency and strong demand.
