Real Estate Market Report 2024 For Southern Gran Canaria And Outlook For 2025

According to experts, in 2025 the increase in prices in the real estate market of southern Gran Canaria will moderate, with a contained price rise of 3% to 5%.

San Bartolomé de Tirajana and Mogán have recorded a 4.5% drop in the number of sales transactions, driven by the lack of available supply in the market.

The real estate market in Gran Canaria remains very active, with high demand and little supply for buyers, indicating that this is a great time to sell a property.

2024 ends with a decrease in the number of transactions and the expectation of a contained price increase, unlike previous years.

Evolution of the Number of Transactions

The real estate market in southern Gran Canaria, which includes the municipalities of Mogán and San Bartolomé de Tirajana, has experienced a notable reduction in the number of transactions in recent years.

In 2022, the total number of transactions reached 2,737, while in 2023, the figure dropped to 1,894 transactions, according to data from the Ministry of Development. For 2024, based on estimates from the evolution of the first three quarters of the year—and given that figures for the last quarter have not yet been published—a total of 1,808 transactions is expected, consolidating the downward trend.

This decline represents a 33.9% decrease compared to 2022 and a 4.5% decrease compared to 2023, reflecting a market that remains stable compared to the previous year but is well below levels from two years ago.

At the municipal level:

• San Bartolomé de Tirajana has experienced a 40.6% decrease since 2022, going from 1,758 transactions to 1,044 in 2024.
• Mogán has recorded a 21.9% drop, from 979 transactions in 2022 to 764 in 2024.

The main factor behind this trend is the lack of available supply in the market, which has limited sales transactions in both municipalities. The shortage of properties, along with a demand that remains high, has created a context of lower turnover in the real estate sector of southern Gran Canaria.

Average Housing Price and Price Evolution per Square Meter

According to data from Idealista, the average price per square meter in the municipality of Mogán is €3,913/m², with variations ranging from €2,067/m² in inland areas to €3,883/m² in Puerto Rico and €4,506/m² in Arguineguín.

In San Bartolomé de Tirajana, the price per square meter ranges from €2,442/m² in areas such as San Fernando or El Tablero de Maspalomas to €4,679/m² in more tourist-oriented areas such as Meloneras, San Agustín, or Playa del Inglés, with the municipal average at €4,287/m², according to Idealista.

Data from the Ministry of Transport, Mobility, and Urban Agenda (Mitma) show an increase in the province of Las Palmas:

• 2022: €1,600/m²
• 2023: €1,712/m² (+7% compared to 2022)
• 2024: €1,850/m² (+8.06% compared to 2023)

Average Property Types

The characteristics of properties vary significantly depending on the location. Let’s look at two areas as examples:

Puerto Rico

• Average price: €189,464
• Size: 40 to 70 m²
• Predominant property type: 1-bedroom, 1-bathroom apartments
• Average selling time: 3 months

Arguineguín

• Average price: €483,039
• Size: >150 m²
• Predominant property type: Houses and villas
• Average selling time: Longer than in Puerto Rico

Puerto Rico is characterized by compact, high-turnover apartments, ideal for investment. Arguineguín, on the other hand, offers larger, more exclusive homes, with a somewhat longer selling time.

Market Outlook for 2025

For 2025, experts predict a contained price increase of 3% to 5%, reflecting a moderation in the price surge seen in recent years. The evolution of the market will largely depend on the implementation of measures that facilitate an increase in supply.

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