House prices in Gran Canaria and the rest of Spain have been in freefall since the 2007 financial crisis. They are now down about 40% from the peak. However, due to local circumstances, we believe that Gran Canaria property prices are close to the bottom. [Read more…]
A study by real estate portal Idealista.com has found that average rental yields in Gran Canaria’s capital city are the second highest in Spain at 4.7%. Rental yields in the city are higher than most cities around the world.
Las Palmas’ average rental yield compares favourably to Madrid at 4.1% and Barcelona at 4%. It is also much higher than average yields in London (3.4%) and Hong Kong (3.1%). Of course, the right property in the right location in Las Palmas offers a much higher yield.
Idealista.com’s study chief Fernando Encinar expects rental yields to continue to climb and predicts a boom in buy-to-let investment in the coming months and years.
Source: Canarias 7 newspaper article