Las Palmas property: High demand in the right areas
Property prices across the Canary Islands rose by 2.3% year-on-year in the third quarter of 2015. However, most of the rise was in the Santa Cruz de Tenerife province of the Canaries, with prices in Las Palmas province (Gran Canaria, Lanzarote and Fuerteventura) rising by just 0.3%.
Overall, prices in Spain fell 0.8% year-on-year during Q3, rising only in the Canaries, Balearics, Madrid and Barcelona.
The figures come from Spanish property valuation company Tinsa and show a Spanish property market with huge regional variations. They broadly reflect what we are seeing in Gran Canaria and Las Palmas. Demand for quality property is high and prices are stable and even starting to rise amongst the most popular property types (such as one-and-two bedroom flats in good locations).
For buyers interested in Las Palmas property, the stats are positive. There are excellent value properties on the market, but it is important to choose the right area and property type and to use a local estate agent that can give you an accurate market valuation of any property you view.
See our Las Palmas Property Area Guide for a detailed overview of the city’s most popular places to buy.