Inside: Canary Islands – real estate in a paradise on Earth. Collaborative post.
Real estate in Spain has been a dream for many people. If you want to find villas for sale in Canary islands then you are sure that this archipelago is right for you. If not, check out our information about this beautiful place and you will definitely start to think about investing in a property there.
General information
What do you associate the word “Canarian” with? Surely, when pronouncing this word, bright, beautiful birds will come to mind – canaries, known to almost everyone. Further, the imagination will draw a sandy beach, the sun, the endless ocean, the friendly happy smiles of the locals …
Although rocky mountains, majestic rainforests with rains, and, perhaps, even an old pirate schooner thrown out on the yellow sand of the picturesque coast immediately come to mind. Strangely, it would seem that some of these associations are mutually exclusive. But not when it comes to the islands! Only they are able to unite so many seemingly incompatible things in a small and cosy area!
Speaking about real estate in the Canary Islands, most often they mean property in Tenerife, but since the islands are located close to each other and are conveniently connected by transport, you can easily visit each one during your vacation.
It is not by chance that the islands are called a mini-continent. The territory of the Kingdom of Spain, the Canaries are located in the Atlantic Ocean on the way between Africa, Europe and the Americas – only 150 km separate the Canaries from the African coast of Eastern Sahara.
At the same time, there seem to be several climatic zones at once: usually the cool north is radically different from the sultry south, and in the mountainous central regions it can be cloudy and rainy, like in Scotland.
The Canaries in a nutshell
Today, the Canary Islands have the highest population density of any autonomous region in Spain. At the same time, the inhabitants of the islands of Gran Canaria and Tenerife make up more than 80% of the almost two million inhabitants of the archipelago.
The Canary archipelago consists of 7 main islands, of which Gran Canaria is the third largest, as well as 6 small ones. It is very unusual that the Canary Islands have two capitals at once, Las Palmas de Gran Canaria and Santa Cruz de Tenerife.
Parliament sits in Santa Cruz de Tenerife (Santa Cruz de Tenerife), and the president – in one or the other capital, and the time of his work in each of the capitals is regulated by local laws.
There is no railway connection in the Canaries, but roads are well developed – Tenerife and Gran Canaria even have a motorway network.
Between the parts of the archipelago, you can travel by light plane or ferry, and to get to mainland Spain, it is also enough to take a plane. In addition, there is a sea connection with the continental city of Cadiz (Cadiz) – the ferry runs once a week. Interestingly, at the EU level, the Canary Islands enjoy an economic favoured status.
The economy is primarily tourism, which, in turn, stimulates construction. Fortunately, there are practically no industrial enterprises in the archipelago, but a large number of crops are grown there – from tomatoes to flowers – which are exported to Europe.
Features of the real estate market
The amazing and fabulous Canaries quite deservedly attract everyone’s attention, including foreign property buyers – and over time it does not weaken, but only intensifies. This land on the way from Europe to America, Africa and Asia is a real paradise with a superbly developed infrastructure.
Excellent living conditions, diverse nature, excellent climatic conditions and tropical exoticism, high-quality real estate and developed European service – this is what attracts here not only tourists, but also those who want to find a place for their second home at least for a few months a year.
During the global financial crisis, property prices in the Canary Islands declined less than in mainland Spain. This is primarily due to the limited space for building, limited permits for new construction.
- A significant factor influencing the interest of foreign investors in buying property is also the possibility of an almost year-round beach holiday, and hence the possibility of renting a villa or apartment.
- Owners of real estate also receive all the benefits and privileges of real estate owners in Spain – undeniable property rights with the possibility of full disposal of property and its transfer by inheritance, grounds for obtaining an annual Schengen multivisa for the owner and his family members, the possibility of obtaining a mortgage loan in Spanish banks.
Now real estate prices are comparable to real estate prices in mainland Spain in the Costa Blanca region, and start from €55,000 for a small studio near the sea. Townhouses will cost around €150,000, and a separate villa in the Canary Islands can be found at a price of €230,000.
Investors are also showing interest in commercial real estate. Catering establishments are especially popular here. A small restaurant in a passing place can be purchased at a price of €150,000. The cost of hotels for sale starts from €1 million, but they are rarely on sale – the archipelago receives tourists all year round, and in the event of a sale for family reasons, applicants for ownership of such a business, as they say, line up.
Residential real estate in the Canary Islands is also rented out all year round, and the owner himself can determine whether he wants to rent it out for a long time or weekly to tourists.
Real estate in Spain
Spain-Real.Estate website is ready to offer you real estate on the Canary Islands or in any other part of Spain. A clever search on the website makes it possible to choose the features that are vital for you in your future home. Go to the Spain-Real.Estate website and try to start searching, you will be surprised how quick and easy that is!