The Changing Market For A One Bedroom Las Palmas Apartment

The one-bedroom apartment is a good seller in Las Palmas. In recent years the mix of people viewing one-beds has been predictable. Lots of holiday rental investors, some non-residents, and a few first-time buyers and downsizers. Most were bought by the investors.

However, holiday rental investors have stepped back from one-bedroom apartments as there are plenty on the portals. Instead, they buy larger apartments and top floor properties with large terraces.

The people who now view and buy one-bedroom apartments are mainly older local couples looking to downsize.

In contrast, larger apartments are more likely to attract Millennials looking for their first home.

Downsizers favour convenient, central areas of Las Palmas such as Mesa y Lopez, Alcaravaneras, Vegueta, Triana and El Puerto (although not necessarily the beachfront).

Most have sold a property or plan to sell once they have a place to relocate so they have furniture and decorative items. However, they do want high quality kitchens and bathrooms.  Like everyone these days, they want internet points in all rooms, and quality windows.

Selling a one bedroom Las Palmas apartment?

If you plan to sell a one-bedroom apartment in Las Palmas, bear this change in mind. It might be worth removing the furniture to make the most of the space, or even changing an old bathroom or kitchen.  However, please consult with an experienced local estate agent before you make changes to a property prior to sale.

I’m Laura Leyshon, one of Las Palmas’ best-selling estate agents. I specialise helping buyers and sellers to find the right property in the city and navigate the transaction process. I’m always available for a chat if you have any questions about Las Palmas property.

For more info on Las Palmas property, read my 2020 guide to the Las Palmas property market.

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