Gran Canaria Property
Tenerife is the largest of the Canary Islands and also the most easily accessible with regular flights from most UK airports making Tenerife a plausible option for a second home. If you’re looking for a property with rental potential, Tenerife is the main player. It’s by far the most popular island, generating more enquiries per property, per year that the other islands in the archipelago. But do beware of legislation regarding holiday rentals.
Playa de las Americas is very popular - crammed with bars and restaurants, water sports and a marina for fishing trips and pleasure excursions, the area is a great buzzy place for a holiday. Prices here start at €80, 000 for a studio flat with swimming pool, but you can pay €150, 000 plus for a high-spec one with a sea view. In more residential (northern) areas you can buy a villa from a €200, 000 rising to over €1m for more exclusive properties.
Rentals are strong in these resort areas. One-bedroom apartments on golf resorts typically cost from around €100, 000, although you can find them for €80, 000, with a rental potential of around £200 a week.
Twenty minutes drive from the airport is San Eugenio Bajo, a family-friendly area on the edge Playa de las Américas – close to the hedonistic nightspots. Beaches within walking distance include Playa la Pinta beach in Puerto Colon and Fañabe beach. And because of these attractions and the good year-round weather property in the area has a long rental season. Expect to pay around €300, 000 or an average family home.
To the south, Las Americas merges with Los Cristianos and contains rows of holiday apartment complexes leading from the seafront. It is these complexes behind the beach that reap the richest rental rewards.
Further up the coast, the popular and increasingly high-end area of Costa Adeje stretches from the resort of Playa Fanabe with its golden beaches through the pretty fishing village of Caleta and north to Playa Paraiso. Fañabe is an upmarket area where you’ll pay €200, 000–225, 000 for a good-quality one-bed apartment, or €2m plus for some of the villas. Properties at the five-star Ritz-Carlton Abama resort at Guia de Isora cost from around €700, 000.
Another popular location is going north up to Los Gigantes, a lively resort area at the foot of huge cliffs that is popular with snow-birds and retirees. You can get studios for around €60, 000, two-bedders can vary between €150, 000 and €250, 000, depending on views and spec.
With regular flights to Lanzarote from most UK airports and a mere 37 miles from one end to the other, almost anywhere in Lanzarote becomes an easy trip for the holiday-home owner. Lanzarote is the most volcanic of the Canaries, but don’t let that put you off, it is also (arguably) the classiest and most expensive. It is beautiful to look at, in an unconventional sort of way, carefully and artistically designed and preserved with tight planning rules. Most of the houses are built in a white cubist form, to a maximum of three storeys.
Painter, sculptor, and architect Cèsar Manrique (1919-1992) convinced the Lanzarote authorities to ensure any new developments were built no taller than two storeys high. Although prices have increased as the island continues to shed its undeserved Lanzagrotty tag, you’ll still be able to find apartments under €100, 000. Don’t expect any change from a cool €1 m however, if luxury villas are more your thing.