Why is property in Gran Canaria so expensive?

Real estate in the Canaries was in high demand, even throughout the pandemic. This was reflected in the high prices that properties commanded during that period. “Despite Covid-19, prices on the real estate market in the Canary Islands are stable, and the growing excess in demand is driving up prices.



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Average Property Prices in Gran Canaria are valued at €1,511 per square metre, but sellers expect €2,002 per square metre. The average house prices in Gran Canaria are comprised between €1,394 per square metre (TINSA) and €2,002 per square metre (Idealista).

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Even better, house prices in Las Canarias are fairly affordable, if you know where to look… the two cheapest Canary Islands to buy property are Tenerife and Gran Canaria.

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Buying Property in Gran Canaria The most popular areas of Gran Canaria with British property buyers are Puerto Rico and Playa del Ingles, both of which are found on the southern coast of the island. Properties on the island are very similar to those found on the other Canary Islands.

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While international investors are holding on thinking that the real estate Canaries market prices will continue going down and there will be plenty of opportunities during 2021, real estate experts agree the time to buy is now.

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With average asking prices of just under 4,000 euros/m2, Costa Adeje and Playa de las Américas are the most expensive areas in the Canary Islands. In the luxurious Abama Resort in Guía de Isora, however, you can expect to pay around 6,500 euro/m2.

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If you prefer a bustling city with a diverse expat community, Las Palmas de Gran Canaria and Santa Cruz de Tenerife are excellent choices. For a more tranquil coastal experience, Puerto de la Cruz and Arrecife are great options. If you enjoy a resort-town vibe, Los Cristianos might be ideal.

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Las Canteras Beach is the most exclusive location on Gran Canaria. The average price per square metre here is 2,700 euros.

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The luxury of Living in Exclusive Homes The most exclusive residential areas are Tafira, Santa Brígida and Maspalomas in Gran Canaria; La Orotava, Tacoronte, Puerto de la Cruz and La Laguna in Tenerife and Puerto Calero in Lanzarote.

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The capital Las Palmas doubles as a municipality and is where the primary immigration office is located, therefore many people moving to Gran Canaria choose to live in the capital. The capital city supports the large expat community on the island and is also home to Las Canteras Beach (Playa de las Canteras).

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The Canary Islands are one of the favourite places for expats to buy property in Spain. From the great weather on the hottest Canary Islands of Tenerife and Gran Canaria to the excellent family beaches on Lanzarote and Fuerteventura, there's no end of reasons to live in the Canaries.

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The canaries are an EU tax haven, although not in the traditional sense: this jurisdiction, part of Spain, makes available many tools for tax planning of known companies. First, the Canaries tax system is easier and with lesser tax burden than other European countries, fully legal and authorized by European Commission.

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The economy of Gran Canaria is mainly based on tourism and the services sector, since the island is currently an important holiday spot for Europeans and national tourism from mainland Spain.

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The most popular areas on Gran Canaria are the coastal towns of Maspalomas and Meloneras, located on the south of the island. They are known for their resorts and touristy beaches. If you're looking for shopping opportunities, these areas have a decent shopping center called Centro Comercial Playa Meloneras.

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A temporary residency allows you to stay on the islands for between 90 days and five years. Permits for less than five years can be renewed every year at the subject's request.

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Santa Catalina, a Royal Hideaway Hotel is a symbol not only of luxury tourism but also of the city of Las Palmas de Gran Canaria, ranking among the best hotels in Europe and in the world.

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Go for Tenerife if you prefer popular tourist destinations with great restaurants and nightlife. On the other hand, Gran Canaria is your best bet if you want to explore the breathtaking landscapes and outstanding beaches.

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With a plethora of beautiful walks and breathtaking scenery, La Palma is certainly the prettiest Canary Island. Although less known for its beaches, the dramatic black sand beaches are a joy to uncover. The island is a UNESCO Biosphere Reserve protecting its natural heritage.

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Known as the continent in miniature, Gran Canaria enjoys a year-round temperate climate that's ideal for both summer breaks and winter sun. Its diverse landscape includes a dry, desert-like south complete with undulating sand dunes, a lush green north and a cool centre with coniferous forests.

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Fuerteventura is considered the quiet island of the Canaries, which invites travellers to relax and rest. While its small bays and deserted beaches constitute great retreats, the harsh and appealing volcanic and desert landscape displays incomparable natural beauty.

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Lanzarote. Lanzarote tends to be the hottest and most arid of the Canaries, as it is closest to the Sahara desert and because it is one of the lowest lying islands. The Sahara can bring high temperatures and fine sand to Lanzarote, causing occasional heatwaves.

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