Balearics trumped by ‘towering tenerife’
The Canary Islands are more popular than the Balearic Islands, according to Kyero.com…
The Canary Islands (comprising Tenerife, Fuerteventura, Lanzarote, Gran Canaria, La Gomera, El Hierro and La Palma) ranked 8th in the most popular regions considered by potential Spanish property buyers visiting Kyero.com ahead of the Balearic Islands (comprising Mallorca, Menorca, Ibiza and Formentera) in 11th place.
With average property prices substantially lower on the Canary Islands compared to the Balearics, €207,000 and €451,000 respectively in Q4 2007, the volcanic islands are certainly proving attractive but which is the most popular?
Receiving nearly 46% of visitor enquiries was the largest island, Tenerife. A hotspot for north Europeans in both summer and winter months due to the warm, sunny climate, Tenerife’s two airports handled over 12.8 million passengers in 2007 and Los Rodeos Airport in the north of Tenerife has become the archipelago’s main inter island airport hub.
The Southern airport is used primarily by north European visitors and is served by budget airlines including Easyjet, Flyglobespan, Jet2, Monarch and Ryanair from many regional airports in the UK. In addition to white sandy beaches, water sports, good restaurants and a year round warm climate, the below national average property prices make this island a top choice for second home owners.
The average property price currently stands at €208,000, 15% below the national average of €245,000 (Jan 08) and in contrast to other Canary Islands, Tenerife actually saw a respectable 7.5% increase in property prices in 2007 rising from €203,000 to €219,500.
Fuerteventura still affordable
In second place, commanding just over a quarter (25.6%) of visitor enquires was Fuerteventura, the second largest and closest island to the African mainland. Receiving just over 4.6 million passengers in 2007, Fuerteventura is a quieter island however with property prices averaging at €250,000, 2% above the national average, and Ryanair flying direct from most UK regional airports owning a second property here remains affordable.
The volcanic landscape of Lanzarote attracted 15% of visitor enquires from Kyero.com. Handling some 5.6 million passengers in 2007, Lanzarote airport has seen considerable growth in recent years. The combination of a ‘lunar’ landscape, unique fauna and flora as well as white sandy beaches and countless sports and leisure activities ensures that Lanzarote offers something for all.
Despite the increase in tourism to the island, average property prices 27% above the national average at €312,000 may go some way in explaining the islands’ ranking in third place behind neighbouring Fuerteventura.
Bargains to be had in Gran Canaria
The last of the major islands, Gran Canaria, accounted for just over 10% of all visitor enquiries. Despite being home to Spain’s fifth busiest airport, handling over 10.3 million passengers in 2007 and the Councillor for Tourism stating recently that his data showed a 1.2% growth in tourist numbers in October 2007, interest from potential property buyers is low. Data from Kyero.com showed a 4.8% fall in average house prices on Gran Canaria in 2007 from €233,000 to €222,400 and a further decline to €198,000 is reported in the latest figures (Jan 08).
Martin Dell, MD of Kyero.com, comments, “Most of the Canary Islands had a tough year in 2007 and Gran Canaria is no exception. I do feel however that the island is attractive to UK buyers due to the ease of accessibility offered by budget airlines including Easyjet, FlyGlobespan, Jet2 and Monarch and with average property prices 19% below the national average bargains are to be had.â€
Finally, coming in at fifth, sixth and seventh places were the smaller islands of La Gomera, El Hierro and La Palma. Over 3% of visitor enquiries were for La Gomera and with La Palma airport handling over 1.2 million passengers in 2007 these islands may be ones to watch.
