The Canary Islands have established themselves as one of the most attractive destinations for buying property in Spain, both for residents and investors. The privileged climate, quality of life and real estate investment opportunities make the archipelago an ideal place to settle or invest your wealth.
Why Buy Property in the Canary Islands
The Canary Islands offer unique advantages for property buyers:
Climate and Quality of Life With over 300 days of sunshine a year and stable temperatures between 18°C and 25°C, the Canary Islands' climate is one of the best in the world. This translates into an excellent quality of life throughout the year, without having to adapt to harsh winters or extremely hot summers.
Tax Incentives The Canary Islands Economic and Fiscal Regime (REF) establishes reduced tax rates on several taxes. The IGIC (equivalent to VAT) is 7%, compared to 21% on the mainland, representing significant savings on the purchase of new homes.
International Connectivity Tenerife South, Gran Canaria and Lanzarote airports have direct connections to major European cities, facilitating travel for both tourism and remote working.
Market Stability The Canary Islands property market has shown stable growth in recent years, with sustained demand from both domestic and international buyers.
Best Areas to Buy According to Your Profile
For habitual residence:
- Tenerife North: Santa Cruz, La Laguna (university atmosphere, moderate prices)
- Gran Canaria: Las Palmas capital (full services, urban life)
- Lanzarote: Arrecife, Tías (quiet life, well connected)
For Investment and Tourist Rental:
- Tenerife South: Adeje, Arona (high tourist demand)
- South Gran Canaria: Mogán, San Bartolomé de Tirajana
- Fuerteventura: Pájara, La Oliva (beach tourism)
For Retirement or Second Home:
- Tenerife: Puerto de la Cruz, Guía de Isora
- La Palma: Los Llanos de Aridane (tranquilidad, naturaleza)
- La Gomera: Valle Gran Rey (ambiente relajado)
Conclusions
Buying a home in the Canary Islands is a decision that combines quality of life, stable climate and investment opportunities. The archipelago's property market offers options for all profiles and budgets, from flats in dynamic capital cities to villas in quiet areas with ocean views.
The process requires planning, professional advice and knowledge of the local market. Each island has its own particular characteristics and advantages, so it is essential to spend time researching and visiting different areas before making a decision.
If you are considering buying in the Canary Islands, start by requesting a free pre-valuation of the properties you are interested in and consult with local professionals who have in-depth knowledge of the market on the eight islands.