Apartments and commercial premises most sought after on Canary Islands

Apartments are the most enquired about property type on three of the four main Canary Islands, Fuerteventura, Gran Canaria and Tenerife, according to award winning Spanish property portal Kyero.com, with commercial premises being the most popular on the island of Lanzarote.

Independent data from the Kyero Enquiry Report (July – Dec 2007) reveals that nationally 3 bedroom villas without a swimming pool and under €150,000 are the most sought after properties in Spain. It appears however that certain regions of Spain attract buyers looking for something a little different.

The Canary Islands, located in the Atlantic Ocean off the north-western coast of Africa, is one such region. Popular, with north Europeans especially, as a summer and winter holiday destination, retirement hotspot and the ideal place to start a new life in the sun, the volcanic archipelago attracts around 8 million visitors annually.

Currently ranked as the 8th most popular region in which to buy property in Spain on Kyero.com, property stock varies from bungalows, apartments and town houses to duplexes, villas and fincas but it is apartments by far which prove the most sought after in the Canaries with 42% of all enquiries. On the island of Tenerife for example 59% of enquiries are for apartments with town houses and villas trailing at 7% and 5% respectively. 64% of enquiries requested properties with swimming pools and 32% requested 2 bedrooms which currently average at €221,000 (Jan 08).

These types of properties are ideal for a wide range of buyers, be they families looking for an affordable holiday home in the sun, retired couples looking to downsize and emigrate or buy-to-let investors seeking low maintenance, high demand rental opportunities.

The Canary Islands certainly do offer something for everyone and the island of Lanzarote is no exception. Data from Kyero.com reveals that commercial premises are the most sought after on Lanzarote, ahead of apartments, with 37% of all enquiries. With over 5000 expats now living on this volcanic island, opportunities to set up and run a business in Spain abound. Commercial premises available range from Indian restaurants to bars, offices, shops, hair salons, bakeries, hotels and even swimming pool bars!

For more information, visit kyero.com.