I’m Laura Leyshon and I’m Las Palmas’ resident property expert. I work for RE/MAX Cony Overseas, one of the city’s oldest estate agencies and the first RE/MAX office to open in Europe. Cony Overseas has an excellent local reputation and has helped hundreds of foreign buyers and sellers in Las Palmas and all over Gran […]
Gran Canaria’s estate agencies are now back at work and the new normal is like the old normal just with with face masks, hydro-alcoholic gel and social distancing measures.
So far, the indicators are that the Spanish national lock down hasn’t tanked the Las Palmas property market. While there are no foreign buyers flying in, there are plenty of active local buyers.
I’m seeing a mix of people renewing pre-lock down searches, investors looking for opportunities, and those with have just started searching due to changed circumstances and priorities.
New priorities shape the Las Palmas property market in 2020
Today’s buyers are very focused on what they want and less willing to compromise.
Many people have come out of the lock down with a new outlook on life. Enquiries about Las Palmas property with outside space have spiked, as have searches for rural property and houses with gardens in suburban areas.
I know that my own roof terrace was a godsend during the quarantine and a lot of people have realised just how life-enriching an outdoor area is.
Las Palmas apartments with large balconies, terraces or usable roof space are getting a large number of viewings (both virtual and in real life). Anything with a good view is also popular.
In contrast, internal flats are not getting visits at pre-crisis prices. They will be on the radar for investors looking for rental income but only at attractive prices.
New rules for Las Palmas property prices?
The difference in price per square metre that buyers is likely to diverge as this new normal settles in. Desirable features will add extra value (or at least hold their value). Flats with no quality interface with the outdoors will get far less interest.
This trend will gain strength if the tourism sector does not recover in 2020 because buy-to-holiday-let investors will sell up. Since most holiday lets are well decorated and have a balcony or terrace they will catch buyer attention.
Selling a Las Palmas property? Take advantage of the moment…
We don’t know how long the Gran Canaria tourism sector will be in mothballs or understand its long-term effects on the economy or the housing market.
However, we do know that there are buyers in the market and that prices of attractive property remain at pre-lock down levels. My advice is that now is a good time time to sell a Las Palmas property.
I’m Laura Leyshon, a Gran Canaria estate agent based in the capital Las Palmas. I’m one of the top-selling agents in Spain and I help foreign buyers and sellers all over the island.
Selling a Gran Canaria property while international travel is shut down is not as difficult as many expect. Almost everything can now be done either online and with legally-valid digital documents.
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. [Read more…]
Every year, I write a guide to the current state of the Las Palmas de Gran Canaria property market and give my predictions for the next 12 months. Here’s the Las Palmas property 2020 report.
It’s a tricky job this year because there are so many factors that could affect property prices. Mostly, it has to be said, in a negative way.
On a local scale we have a deflating touristic bubble in Gran Canaria, the collapse of Thomas Cook, a decline in holiday rental investment and a big increase in new-build property. [Read more…]
The most expensive property for sale in the Canary Islands is in Monte Leon in south Gran Canaria, according to property portal Idealista.
At 6.9 million euros, the two-storey, 930 square metre villa was designed by German architect Friedrich Wilhelm Kraeme and is the current residence of internationally renowned pianist Justus Frantz.
The top floor consists of landscaped central patio, a large master suite, and four other double bedrooms with bathrooms. There is also an equipped industrial kitchen and living room with large windows facing south.
The ground floor has a magnificent hall divided into three separate spaces plus three bedrooms with en suite bathrooms.
The property also includes four bungalows, each with living room with rustic kitchen, and two with double bedrooms and a bathroom. A third habitable zone contains a living room with kitchen and a double bedroom.
Near the mansion there is a pool with gazebo and sauna and spectacular views. The 88,000 square metre property also includes large garden areas, vineyards, boating pool, tennis court and fruit orchards.
This property is a cultural icon of Gran Canaria as it is the location of the Franz and Friends Festival music event held during the summer.
I’m Laura Leyshon, a leading Gran Canaria estate agent with a long track-record of helping foreign buyers and sellers. I offer quality service with a personal touch and am one of the top selling agents in the Canary Islands.
More on Luxury Property in Gran Canaria.
Gran Canaria runs on its own time
The Canary Islands are an hour behind the rest of Spain and on the same time as London. This gives the islands up to a billion euros per year of brand exposure on Spanish radio and TV. It’s so important that the Canary Islands have said that they will jump by an hour if Spain changes timezone to better suit its location.
It’s not just the “una hora antes en Canarias” that keeps the islands in a different timestream. Many of the words that the rest of the world use to describe time just don’t work here. [Read more…]