Canary Islands: what are the achievements and features of real estate in Tenerife and Gran Canaria?

Unique atmosphere of the Canary Islands

The Canary Islands, each imbued with its own unique atmosphere, offer tourists a multitude of experiences. The largest and most dynamic of them is Tenerife. This island attracts a significant number of travelers not only from Europe, but also from Russia.

Gran Canaria and Lanzarote

Gran Canaria is renowned for its ideal climate and those looking for a quiet and relaxing vacation. Lanzarote, known for its stunning landscapes, has remained relatively untouched, being home to a famous national park. Although the other islands have their own unique characteristic, it is these three that stand out as the focus for people interested in buying real estate.

Tenerife resorts

Tenerife, being the largest and most popular island in the archipelago, pleases travelers with a variety of resorts in the southern part. There are many entertainment centers and hotels, among which Playa de las Americas stands out. This is a really lively area overflowing with hotels, residential complexes, stores, restaurants and places to stay.

Los Cristianos Development

Neighboring areas such as Los Cristianos are also rapidly developing from quiet fishing villages into popular tourist destinations. Many five-star hotels are concentrated in this part of the island, which significantly increases housing prices, especially near the Costa Adeje golf course, where villas can cost up to 1 million euros.

Playa Paraiso and Callao-Salvahe

Also in Tenerife stands out an important agglomeration, Playa Paraiso, located a little to the west of the aforementioned area. In recent years, this area has expanded considerably and is now comparable to Callao Salvaje, where British tourists, Scandinavians, French and Germans vacation.

• Playa San Juan
• Playa de la Arena
• Alcala
• Puerto Santiago

These charming small villages attract Europeans with their charm of authentic fishing villages and moderate prices, which further increases the interest in these regions.

Los Gigantes

Following Tenerife clockwise, the traveler will soon reach Los Gigantes, where mesmerizing bays, verdant palm groves and majestic mountains form unique landscapes. Here there is the only development site that developers may be interested in, located directly on the steep ocean shores. However, it is worth noting that this area is not for everyone.

The imbalance between supply and demand causes the price of housing in popular Los Gigantes to be significantly higher than in other parts of the island.

Northern areas and natural beauties

The northern parts of Tenerife are most often shrouded in clouds and subject to rain, yet it is this land that is famous for its picturesque countryside, especially with the beautiful Orotava Valley as a backdrop.

Thus, the Canary Islands offer a wide range of vacation destinations, each with its own charm and can offer something unique and unforgettable.

On the sunny island of Tenerife, the resort of Puerto de la Cruz attracts special attention. This place, which is one of the oldest on the island, continues to arouse interest among tourists, including elderly people considering relocation.

According to real estate specialists, 2007 saw a slight reduction in transactions, which is attributed to the crisis in the mortgage market. Nevertheless, experts emphasize that the overall situation is not as serious as it may seem at first glance: the number of offers on the market is increasing and potential buyers can choose from a greater number of options.

State of the real estate market in Tenerife

Despite global economic fluctuations, Tenerife's real estate market is showing its consistently positive dynamics. Stefan Eade of Horizon Property Group notes that house prices on the island continue to rise. In new residential areas such as Fanabe, La Caleta and Adeje Golf, you can still find affordable real estate options.

Substantial investment in the construction of modern five-star hotels has completely changed the face of these neighborhoods, especially for those who visited years ago.

Popular types of real estate

Wendy Stroud of Tenerife Properties notes that the highest demand is for spacious apartments, as they have great rental potential.

• Approximate cost of one-bedroom apartments:from 180,000 euros
• Approximate cost of two-bedroom apartments:from 240,000 euros
• Minimum price for villas:about 500,000 euros

Experts expect that in 2008, house price growth could be approx.12%.

Attractiveness of Gran Canaria

Gran Canaria offers many opportunities for tourists due to its tranquil lifestyle, wonderful climate and opportunities for stable rental income. This island with its unique climatic conditions and picturesque scenery is a small replica of mainland Spain.

Gran Canaria offers both cozy Canarian bays with subtropical flora and volcanic areas with dunes.

Famous resorts of Puerto Rico

Puerto Rico's most famous resorts, such as Playa del Inglés and Puerto Mogán, are renowned for their developed tourist infrastructure and optimal conditions for generating rental income. As with other islands in the archipelago, Gran Canaria has not seen a sharp decline in real estate prices: values continue to rise steadily.

The island remains an attractive destination that provides income throughout the year, and as a result the local market has performed consistently well despite a slight decline in sales. Expectations for future real estate trends in Gran Canaria are challenging for experts.

Gran Canaria real estate market analysis

Katie Rook from KM Inmobiliaria emphasizes that the state of the market depends on the location and type of property. For example, three years ago the price of apartments in the Las Velas development in Maspalomas was 190,000 euros, but now it has risen to 275,000 euros.

In the southern part of Gran Canaria, particularly in Maspalomas and neighboring Playa del Inglés, studio apartments average around €100,000, while two-bedroom apartments reach prices of around €140,000.

• Properties located a little farther from the coast are also seeing price increases.
• This growth is due to both a growing interest in quieter environments and general market trends.
• Three-bedroom new-build properties in the Ingenio and Aguimes neighborhoods in the southeast can be purchased for under €150,000.

Investment and export potential

More recently, active investment from Eastern European buyers has become visible. According to John Goldacre:“Given the steady price growth and construction activity on the island, this region has brilliant prospects for the future.The island will always attract tourists, secondary property buyers, retirees from Europe and those interested in renting.

Unique natural landscapes of Lanzarote

Lanzarote is famous for its unique natural landscapes. The island is about 60 km long and 15 km wide and has about 300 volcanoes, many of which are still active.

Volcanic activity, which began in 1730 and lasted for six years, dramatically changed the face of the island. As a result of these eruptions, Lanzarote was covered with a four-meter layer of lava, and in the current territory of the Timanfaya National Park you can see impressive glowing rocks and 26 craters.

This eruption was the largest volcanic event in the history of the Canary Islands, defining the modern landscape of Lanzarote.

Conclusion

The Canary Islands present an amazing diversity of landscapes and cultures, which makes them attractive to both tourists and real estate buyers. I have identified three main islands: Tenerife, Gran Canaria and Lanzarote, each with its own unique characteristics and atmosphere.

Tenerife

Tenerife, being the largest and most bustling, offers many resorts and entertainment centers, attracting people looking to enjoy an active vacation. Its southern part, with areas such as Playa de las Americas and Playa Paraiso, is known for its high property prices, reflecting the growing interest in the region.

Gran Canaria

Gran Canaria in turn charms with its tranquility and chic climate, making it an ideal place to live and relax. The island offers a variety of natural landscapes, from sand dunes to volcanic mountains, providing a unique microclimate and excellent living conditions. It is important to note that the demand for housing in the southern part of Gran Canaria continues to grow, making this area attractive to investors.

Lanzarote

Lanzarote, with less human influence, offers its visitors unique natural landscapes and an extensive national park, making it particularly attractive to those seeking peace and closeness to nature. Vivid landscapes and modern architecture create a harmony that cannot fail to impress.

Result

So, no matter which island you choose, the Canary Islands are an ideal place to live and vacation. With the real estate market here showing steady growth and offering a variety of options from luxury villas to cozy apartments, it's easy to see why more and more people are choosing the Canaries as their second home.

I hope my article has helped you better understand the delights of these unique islands and inspired future travels or investments in this amazing part of the world. May your discovery of the Canary Islands be as exciting as they are diverse!