Since we are in the middle of the summer season, it would be practically impossible to talk about the Canary Islands without mentioning a great holiday destination. The attraction of the archipelago needs no explanation, not only as a well-deserved holiday but also to enjoy its quality of life by investing in its dynamic real estate market. Engel & Völkers is an internationally renowned real estate company that is already present in the Canary Islands and is looking for new franchisees to continue its business expansion.
The General Situation of the Canary Islands' Market
The year 2017 was the most notable for the Canarian real estate market in almost a decade. The property sales in the large towns of the archipelago rebounded more than 14% over the previous year, well above the average in the Spanish provincial capitals. There is no denying the exceptional business figures that the tourism industry has achieved, which are very much related to this positive real estate trend.
While in the first quarter of 2007 the average figures of 3,000 monthly sales broke records, there are now around 2,000 sales per month. This, together with the economic recovery and the labour market in the region, shows a large growth margin for the sector. The new franchisees are, therefore, going to find a market that's in expansion - with interesting differences based on which island in the archipelago the franchise is located in.
Tenerife is the largest and most populated island in the archipelago and the one that receives more visitors throughout the year. The reasons are clear. The Teide National Park is one of the most visited in the world due to its uniqueness and the wide variety of alternatives for different travellers. There is also a lot of history in its towns, such as San Cristóbal de la Laguna and Santa Cruz de Tenerife.