The real estate market in southern Gran Canaria is consolidating its position as one of the archipelago's most dynamic drivers of fiscal liquidity, fueled by a combination of foreign investment, a shortage of supply, and a structural increase in the cost of residential and commercial assets. The latest data from the Canary Islands Treasury confirms a record-breaking year-end in revenue from taxes linked to real estate transactions, reflecting a resilience that defies the tightening of global monetary policy.
The accumulated revenue from the Inter Vivos Property Transfer Tax (ITP)—an unequivocal indicator of the second-hand sales transactions that drive economic activity in municipalities like San Bartolomé de Tirajana and Mogán—reached €367,8 million at the end of December 2025. This figure represents a 9,47% increase compared to 2024, widening the gap with previous years, standing 17,64% higher than in 2023 and 5,05% higher than in 2022. This trend confirms a sustained expansion, given that the accumulated revenue for 2024 had already registered a 7,46% increase compared to the previous year.
In the monthly analysis, December 2025 contributed €30,5 million in revenue, consolidating the traditionally strong year-end performance in the premium sector of the island's south. This figure exceeds the December 2024 record by 3,68%—a month that had itself experienced a 19,48% increase compared to 2023—and shows a gap of 22,58% and 23,88% when compared to December 2023 and 2022, respectively.
The core of this tax activity rests on the acquisition of urban properties for residential use, a category that recorded a positive year-on-year growth rate of 8,19% in the current fiscal year. This increase in revenue runs parallel to the rise in asset prices. According to the Housing Price Index (HPI), the annual rate in the Canary Islands stood at a remarkable 12,2%, just a few tenths of a point below the national average, which climbed to 12,8% after absorbing a quarterly increase of 2,9%.
Investment pressure in tourist areas has not been limited to the residential sector. Revenue from the sale of commercial premises and other hotel or service buildings jumped by 30,14% year-to-date. This boom in consolidated land sales contrasts sharply with the collapse in the sale of building plots, whose tax revenues fell by 15,95%, demonstrating that capital prefers the renovation and operation of existing assets to new development on the highly sought-after plots in southern Gran Canaria.
The new construction segment and corporate finance activity also showed double-digit growth. Revenue from the Stamp Duty (Impuesto sobre Actos Jurídicos Documentados - AJD) closed the year at €99,5 million, a 20,79% increase compared to 2024 and higher than the 33,61% and 34,32% increases recorded in 2023 and 2022, respectively. Notarial documents related to mortgage loans from financial institutions led the volume of transactions with a 21,11% increase, followed by visas subject to the IGIC (Canary Islands General Indirect Tax), which grew by 8,73%.
The dynamism of the construction sector and the reconfiguration of assets in the south are reflected in the surge in notarial transactions: land segregations skyrocketed by 133,25%, consolidations by 106,40%, horizontal divisions of residential complexes by 30,15%, and declarations of new construction by 20,58%. Despite December 2025 registering a monthly dip in Stamp Duty of €6,1 million (20,51% less than the extraordinary December of 2024, which grew by 64,76%), the annual balance demonstrates that southern Gran Canaria operates as a high-performing market immune to the mainland slowdown.
