In addition to being a first-class tourist destination, the Canary Islands also have a thriving real estate market. Currently, they offer excellent investment opportunities.
When buying a property, the reason for the acquisition determines what kind it is.
When investing in real estate in Spain, you are most likely to have an advantage through optimal proximity to water or the city centre.
For rental property, the frontrunners are typically beachfront districts that are popular with tourists.
When choosing between a permanent residence and a temporary residence, consider the development of infrastructure.
ENDLESS SUNSHINE & ENDLESS TOURISM
As a result of their subtropical climate, constant sunshine and warm temperatures throughout the year, the Canary Islands are extremely appealing to tourists or those looking to invest in a second home.
Canary Islands’ interests have already proven to be imperishable, ranking as the top tourist destination in Spain with over 12 million visitors per year. Tourism has been a part of the archipelago for decades, and the number only continues to increase.
The Canary Islands enjoy EU membership status as a region within the Spanish state. This political and economic stability translates into legal and fiscal certainty for foreign property owners and contributes to flourishing tourism.
From the 1960s to 2022, the islands are expected to grow by 9.6% thanks to the development of the tourism industry. Even though the islands were not immune to the global economic crisis, their tourism industry, which contributes 32 percent to the $44.7 million GDP, as well as the loyalty of European tourists and tour operators has always helped them recover. A holiday home investment’s ability to rebound therefore minimises the risk of losing value over time.
THE HOLIDAY HOME MARKET IS SAFE & REWARDING
There are many reasons why it is an ideal place to own a home, including the beauty of its landscapes, the quality of its beaches, and most importantly, its good weather.
An investment in a place with year-round weather is much more attractive than a tourist destination that turns into a ghost town in winter. Moreover, vacation rentals on the Canaries offer excellent returns on your investment.
Property owners with the help of vacation rental services have grown their real estate investments in many countries over the years due to a rise in tourism. Property owners renting out their properties through vacation rental services now have more money left over when their hotels are returned.
Since Spain joined the European Union in 1986, the Canary Islands have benefited from a significant increase in infrastructure investment due to the Union’s cohesion funds for peripheral areas, designed to boost tourism and enhance the general standard of living on the islands.
This investment has resulted in an increase in road and public transportation systems, airports, airways, ports, water supply and wastewater management, solid waste treatment, electrical power, healthcare, education and security, and social infrastructure of all kinds. This investment is ongoing, offering opportunities for people locally and foreigners and providing a foundation for all to increase.
Living in the Canary Islands offers you the tranquillity you need to appreciate a beautiful, diverse coastline. With numerous islands to visit, Puerto de la Cruz offers you a suitable urban or mountainous atmosphere, an offer for climbing Mount Teide, and diverse opportunities for a surfing break in quarries and at the carnival. You can also go to an archaeological museum and browse through an exhibition featuring the queen of carnivals. Or you can stroll through the National-Cantabrian Forest while surrounded by exquisite, moss-covered bald cypress trees. For lunch, you can try the wrinkled potatoes that grow in the region.
Our team is composed of real estate agents with a large amount of knowledge concerning our local area and a wide range of clients and contacts. We are professionals and we work hard to provide the best services so that you can find your home, estate, or any property you want to buy or lease. Through our broad portfolio of properties, you will discover Piso Barato Inmobiliaria of properties.
Among our houses, we have a premier in Spain. Our professional property professionals can provide you with everything you need. Let us listen so we can best advise you.