Canary Islands – Choosing The Island For The Real Estate Investment

The southern islands of Spain attract lovers of a pleasant warm climate and eternal summer. Nestled among palm trees and sandy beaches, real estate in the Canary Islands is the dream of many foreigners who have been here before. This archipelago, made up of volcanic mountain ranges, located on the Atlantic Ocean, seduces with picturesque scenery, warm, azure water and an interesting, foreign-friendly culture of Spain. Find out how to fulfil your desire and profitably buy villa in Canary islands.

Nature of the archipelago

In general, the climate in the Canarias is oceanic, subtropical: with very comfortable temperatures and rare rains. However, depending on the area, there can be quite significant differences. For example, in some places on Isla de la Palma, the annual rainfall reaches 1,200 litres, which is relatively high in itself. At the same time, on the eastern islands – sunny and arid Fuenteventura and Lanzarote – precipitation falls much less than on the western ones, looking directly into the open ocean.

Some of the islands, due to their volcanic origin, have a porous terrain, while others have places where the mountains come close to the ocean. It is there that you can observe a natural phenomenon of amazing beauty, which the Spaniards call the “sea of ​​clouds”, when large rain clouds huddle into huge masses and begin to condense right next to the mountains, giving enviable conditions for the life of dense local vegetation. At the same time, on the same island, due to differences in the microclimate in its different parts, both tropical rainforests and arid areas “peacefully coexist”. Another distinctive feature of the nature of the Canary Islands is that there are practically no rivers there – due to numerous faults and ravines, the water from the rains, almost without stopping, flows down from the hills directly into the ocean.

Vegetation varies according to climate and topography. On the northern and north-western slopes, with their rains and winds, moisture-loving plants predominate. While on the drier southern coasts, species adapted to the heat and lower humidity are mainly found. It is quite logical that with such an impressive variety of flora, the fauna of the Canary Islands is represented by an incredible number of species.

Choosing the place

For many years, the Canaries have been one of the most attractive holiday destinations in Spain. This amazing place allows you to fully enjoy all the benefits of a tropical climate without being too far away from the European continent. The diversity of nature, magnificent beaches and the hospitality of the locals made the archipelago popular not only among tourists, but also among those who are ready to purchase housing and pay property taxes in Spain. Which of the many places of the archipelago should be preferred?

• Tenerife is considered the largest and most populated island. British tourists have chosen it in the 60s of the last century. The number of foreigners who prefer to spend their holidays here is constantly growing – last year it amounted to 5.7 million people. According to statistics from realtors, real estate buyers prefer the southern part of the enclave near the airport.
• Lanzarote is a small island only 37 miles long and 12 miles wide. Nevertheless, it is rapidly catching up with Tenerife in popularity, largely due to its unique climate and volcanic landscape. It is a UNESCO Biosphere Reserve, and its eco-villages and quiet peaceful hotels attract both surfers and mountain bikers and wine connoisseurs. As for investors, they willingly invest in boutique hotels on the coast. Private buyers prefer to make purchases mainly within the capital of the island, as well as on the coasts of Puerto del Carmen and Costa Teguise.
• The Gran Canaria is very often referred to in tourist brochures as a “miniature continent”, primarily due to its amazingly diverse landscape, as well as the variety of entertainment that await tourists here. This is a vacation among the dunes on the magnificent beaches of Maspalomas, and walks through the tropical forests of the northern part, and exciting shopping in the capital Las Palmas. The third largest island in the archipelago, Gran Canaria attracts tourists and investors from various countries, but the British make up the largest share of them.
• The opportunity to become the owner of real estate in a region whose climate is considered the best in the world is of interest to many. Most buyers prefer to make their purchases close to Maspalomas golf courses and shopping centres of the capital. Surprisingly, the prices here are still affordable: an apartment on the secondary market that needs cosmetic repairs can be purchased within €100,000. Having spent from €10,000 to €30,000 on renovation, you can get comfortable modern housing at your disposal. Those who would like to buy a small bungalow should prepare to pay around €150,000.
• If a buyer who decides to buy property in the archipelago does not want the hustle and bustle, he may prefer the Fuerteventura. It is the second largest, but the least populated. Despite the popularity of the island among homebuyers, the local market still offers lucrative opportunities. Depending on their budget, an investor can purchase a small cheap apartment or a comfortable villa. The place is literally replete with beaches – there are 152 of them, so finding an apartment near the beach is not difficult. Prices are now much lower than in the peak years before the crisis: a moderate budget is enough to make a good purchase. Buying an apartment here worth up to €100,000, it is quite possible to count on the fact that during the peak season it will be possible to rent it out at a price of €500 per week.

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