House sales increased on the Canaries by 25% in 2021, and also show an increase of almost 20% on the last pre-pandemic year of 2019.
The sales figures reflect a trend throughout Spain, which has also seen a rise in sales of around 18% on last year. However, the Canaries proved much more reluctant to take out mortgages, which fell by 17.7% last year, despite a national increase of 23% in new mortgages from 2020 to 2021.
The figures, produced by Spain’s College of Registrars, indicate that there may be a much stronger tendency towards cash purchases in the Canaries.
Meanwhile, the Fotocasa property portal has published a report that predicts a stable year for 2022, with house prices rising no more than 4% over the year.
Fotocasa also predict that rents will fall over the coming year, although this has so far not been reflected in the Canaries, where rentals in tourists areas have continued to increase.
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