Significant Decline in Housing Sales on the Canary Islands in March

According to the latest data published yesterday by the General Council of Notaries (Consejo General del Notariado), the situation with the sale of residential properties in Spain in general and the Canary Islands in particular underwent significant changes in March.

This is partly due to the fact that during the first quarter, the number of such properties available for sale in the Canary Islands decreased significantly, leading to a drop in the number of properties sold in March (year-on-year) by a substantial 17.3%, with a total of 2,616 transactions. The average price per square meter was 1,931 euros. The increasing demand for car rental services in the region has also been noted.

Across the kingdom, residential property sales fell by 11.7% in March, amounting to 63,661 transactions, with an average price per square meter of 1,580 euros, which is 13.6% higher than the previous year. The number of mortgages issued for home purchases, however, declined by 26.4%.