Kicking it on the Canary Islands: places to buy residential property and holiday homes
The Canary Islands, located in the Atlantic Ocean off the northwestern coast of Africa, are a Spanish territory and one
The Canary Islands comprise the three most popular tourist destinations in Spain. According to the local Canaries Statistics Institute (Instituto Canario de Estadística), 13.3 million tourists visited the archipelago in 2015, and about 14 million visitors came in 2016. Eight local airports connect the islands with 85 countries.
The Canary Islands are also popular among foreign buyers of property in Spain. As reported by the General Council of Spanish Notaries (Consejo General del Notariado), in H1 2016, foreign citizens participated in 44.2% of the real estate transactions on the Canary Islands, the highest transaction count in the country.
The Canarian real estate market is one of the most developed and stable markets across Spain. It suffered comparatively less from the 2008 crisis than other regions of Spain and proved to be more resilient thanks to the absence of any abrupt price jumps. One of the reasons for the stable growth of local prices is the lack of the free development land, due to which demand always exceeds supply. However, Canarian real estate is on average 30% cheaper than, for example, Balearic or Catalonian property. According to the data from Idealista.com, the average residential property price on the Canary archipelago amounted to €1,300 in September 2016.
The archipelago is a chain of seven islands stretching west to east:
El Hierro: the Wild West
El Hierro is the smallest of the seven main Canary Islands. Its infrastructure is not thoroughly developed, but what attracts tourists are the unique flora and fauna of the island. The island was proclaimed a biosphere reserve in 2000, and it may soon become the first "green" island, using renewable energy sources to fulfill its own needs.
One of the most popular El Hierro resorts is La Restinga. The town has
New development is almost totally restricted on El Hierro. Newly built properties can only appear in a relatively small area of the island and
La Palma: vast expanses of greenery under a starry sky
La Palma is the greenest island of the Canaries: about 35% of its territory is covered with pine and laurel woods, banana plantations, vineyards and orange groves. The most popular forms of entertainment the island offers are hiking, boating and stargazing. A large international observatory, Observatorio del Roque de los Muchachos, situated in La Palma annually attracts multitudes
The coves of Los Cancajos, which is located on the east coast of La Palma, are perfect for diving. A third of the local beaches boast a Blue Flag. Los Cancajos is where most newly built properties of the island are concentrated. The price range
La Gomera: serenity and privacy
La Gomera is not the most touristic island of the Canaries: visitors are unlikely to find any large, modern resorts here. However, those looking for a serene place with privacy can view this as an advantage. The properties of La Gomera are mostly bought as holiday homes, not investment assets or rental estates.
The touristic centre of the island — Valle Gran Rey — has plenteous beaches, boarding houses and restaurants. Valle Gran Rey includes four villages: La Calera, La Playa, La Puntilla and Vueltas. The picturesque La Calera is nicknamed the Montmartre of La Gomera; the local property prices are among the highest on the island.
The second largest resort of La Gomera is Playa de Santiago. This place has several tennis courts and a golf course; it is also famous for its pristine beaches and modern hotels.
The amount of residential structures being built on La Gomera is small. Small, detached houses with sea views sell for €150,000 on average here, while prime
Tenerife: landmarks and entertainment
Tenerife is the island most popular among property buyers and tourists. It has
The largest resorts and the best beaches on the island are located on its southern coast, while the more traditional settlements with authentic atmosphere and a great number of landmarks are concentrated in the north.
The most popular resorts in the southern part of the island are Playa de las Américas, Los Cristianos and Costa Adeje. Playa de las Américas is known for the best bars and nightclubs on the island. Los Cristianos houses
The most famous resort of Northern Tenerife is Puerto de la Cruz.
Gran Canaria: summer all year long
The climate of Gran Canaria is warmer compared to the rest of the Canary Archipelago. The winter air temperatures are about
Foreign nationals most often buy property in the south of the island at the resorts of Maspalomas, Meloneras, Playa del Inglés and San Agustín. These locations have
The most famous resort of Gran Canaria is Maspalomas. It houses the largest Canarian water park, Aquasur, as well as the Holiday World amusement park. Apartments in Maspalomas cost upwards of €100,000 in the town, and prices for villas start at €500,000.
Meloneras is also known as the local Beverley Hills. Expensive villas, many of which their owners later rent out to tourists, abound in this market. the resort has boutiques, fashionable restaurants, luxurious sandy beaches and a golf course.
Fuerteventura: wild windsurfing and beach vacations
The main feature and landmark of Fuerteventura is its beaches with light, fine sand that stretch virtually endlessly.
The largest resort of Fuerteventura is Morro del Jable. The town is divided into the old part, complete with narrow streets and taverns where freshly caught fish and other seafood are served, and the new part, which boasts plenty of hotels, apartment buildings, shops and restaurants.
The Corralejo resort is also popular among tourists. Holidaymakers come here to enjoy the beautiful views on the Lanzarote and Lobos islands, sunbathe on the beaches south of the town centre and play water sports. Flats in Corralejo cost
Families with young children and those who take vacations at a slower pace will find the Caleta de Fuste resort suitable. The houses constructed on the bay shore here form a horseshoe.
Lanzarote: marvelous landscapes and exotic architecture
Lanzarote is often called La Isla del Fuego ("the Island of Fire") for having over 300 volcanoes. The surface of the island is covered with black, pink, purple and yellow, hardened lava and has practically no vegetation. Lanzarote not only has
The main resorts of Lanzarote are Puerto del Carmen, Playa Blanca and Costa Teguise. Puerto del Carmen is the most expensive and
Despite the abundance of restaurants, bars and shops, Playa Blanca is considered a quiet resort and attracts families with children. Costa Teguise has several
Tranio recommends the following locations on the Canary Islands:
- for nature and privacy lovers: El Hierro, La Palma and La Gomera
- for adventure seekers: Tenerife and Lanzarote
- for families in search of a comfortable holiday destination: La Gomera, Tenerife, Lanzarote, Fuerteventura and Gran Canaria
Julia Gushchina, Tranio.com
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