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 […]
When I wrote the 2019 guide to Las Palmas property in late 2018 I noted that I expected average prices to rise in 2019 despite a set of moderating factors.
These were; a decline in tourist rental investment, an increase in new-build property, and the inevitable decline in tourist numbers following the recent boom.
We must now add the uncertainty of national elections on April 28 and local elections on May 25.
Let’s have a look at each of these factors in more detail… [Read more…]
It can be tough to find the right property in Gran Canaria’s popular property areas because of high demand.
However, there are spots all around Gran Canaria where you can still find fantastic houses and apartments are reasonable prices.
Here are five spots that I think are going to become more popular over the next few years. [Read more…]
Property prices in the Canary Islands rose by 0.2% in the last three months of 2015, according to Spanish property valuation company Tinsa.
Prices in the Las Palmas province, which includes Gran Canaria, Fuerteventura and Lanzarote, rose by 0.4%.
Overall, prices rose by 2% across Spain, although they are still falling in many areas of the country. Madrid (3.3%) and Catalunya (5.3%) saw the largest price rises while the Balearic islands also saw above average rises (2.7%). In contrast, prices in Navarra fell by 8.5% and prices in Murcia fell by 4.3%.
The variation across Spain reflects what is happening in Gran Canaria. Prices in high demand areas, such as popular tourist hotspots in south Gran Canaria and the beachfront zones of Las Palmas, are stable or rising slowly. Property prices in residential areas away from the coast, and areas that still have lots of empty new-build property, remain stable or continue to fall.
In another positive signs for the Spanish property market, the average time needed to sell a property in Spain has, according to Tinsa, dropped from 10.6 to 10.2 months
Tinsa predicts that prices will continue to rise on average in 2016, and that even areas with falling prices will see smaller drops.
Tinsa stats for 2015 Spain property prices are highly regarded in Spain as they are independent. As a company, it carries out property valuations for Spanish banks and property owners.