Canary Islands Record High Mortgage Numbers with Significant Loan Growth

The Canary Islands experienced a surge in mortgage registrations from January to July 2026, reaching 10,254, the highest for this period since 2011. This marks a slight rise of just 33 more mortgages compared to the same months in 2025, a minimal increase of 0.3%.

This slight uptick in mortgage numbers points to a stable market, but the substantial growth in loan amounts is more telling. We advise clients that while transaction numbers remain steady, the significant rise in capital suggests changes in property values or buyer confidence.

The total capital loaned for these mortgages reached 1,589.5 million euros, a 17.9% jump from the previous year, amounting to 241.3 million euros more than in 2025. Consequently, the average mortgage amount climbed to about 155,000 euros, up from approximately 131,900 euros last year, reflecting a 17.5% increase.

For those eyeing properties in the Canary Islands, this rise in average mortgage size indicates a buoyant property market. We often suggest potential buyers consider long-term value, as the current trend may hint at future appreciation.

Despite these numbers, current mortgage activity remains well below pre-crisis levels. In 2007, there were 37,959 mortgages, totaling 4,840.5 million euros. The present figures represent only about 27% of that volume and 32.8% of the capital.

In July 2026, 1,557 mortgages were recorded, an 18.4% decrease from July 2025. However, the capital loaned saw only a slight dip, with 240 million euros borrowed, just 0.7% less than the previous year. The average mortgage amount in July was around 154,200 euros, up from 126,600 euros in July 2025, a 21.8% increase.

This gap between the number of mortgages and the capital borrowed underscores a shift in market dynamics. We recommend buyers explore properties that align with these new financial trends, especially in areas with growth potential.

Across Spain, 43,372 mortgages were established in July, a 3.5% decrease from the previous year. The average mortgage amount in Spain was 180,785 euros, higher than the Canary Islands’ average. The average interest rate for new mortgages in Spain was 3.01%.

Considering these figures, it’s evident that the Canary Islands present unique opportunities for buyers. We suggest exploring properties now, as the financial landscape evolves and could benefit those investing early.