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Why it is advisable to invest in the Canary Islands in 2018

The archipelago of the Canary Islands stands out as a true paradise, where the sun never seems to stop shining. It is one of the most southern territories of the European Union, while being geographically located in Africa but is part of Spain's sovereign territory. It is precisely this privileged position on the map that explains why the Canary Islands is such a huge tourist attraction. Investing in the archipelago has always been recommended but nowadays even more so. Some of the top reasons to buy a property in the Canary Islands would be the following:

The Canary Islands enjoy a typically subtropical climate but with some particular characteristics. At mild temperatures throughout the year (a temperature of around 20 º C) adds to a low presence of rainfall and a huge number of sunshine hours per year. This is definitely the perfect ingredient to welcome millions of travellers at any time of the year. Unlike the rest of Spain's coastal destinations, in the Canary Islands it is possible to enjoy the beach almost every month. In 2017, there were only 9º of difference between the recorded maximum and minimum temperatures (on average).

These optimal climatic conditions are combined with some of the most unique landscapes in Spain. The Canarias boast numerous protected natural sites including four national parks: Teide, Caldera de Taburiente, Timanfaya and Garajonay. These heterogeneous landscapes range from semi-desert regions to uniquely green valleys. Excursions through the different islands of the archipelago (Tenerife, Gran Canaria, El Hierro, La Gomera, Fuerteventura, Lanzarote and La Palma, as main islands) are some of the top tourist activities. Taking advantage of the numerous kilometres of coastline, water sports are the other option to consider.

As a result of all the above, the Canary Islands have been beating their own tourist records for several years. In 2017, more than 16 million travellers chose one of the islands of the archipelago for their holidays. This positive trend has had a notable impact on the regional economy, which last year generated more than 10,000 new jobs in the tourism industry. In addition, the demand for accommodation has meant that hotel owners increased their room prices by 6.7 per cent compared to the previous year. Holiday rentals also benefited from this trend, being one of the most powerful reasons to invest in Canarian properties.

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Those who are considering buying a property in the archipelago in order to use it as a holiday home, will find a mature market spoiled by the local councils. The potential tenants of the large properties are mainly British travellers, with proven financial status and with special interest in long-term rentals. This is a double guarantee for the investor, which ensures a quick amortisation of the purchase. Bear in mind that according to the INE, the average rental prices in the archipelago rose by 9 per cent. The profitability margin is even closer because house prices have not fallen below rentals

Aside from the residential property market, the Canarias also offers excellent tax advantages for all the business investors. As a peripheral region of the EU, the autonomous government has tried to attract investment by offering for example a general rate of Corporate Tax well below Spain's average. Some sectors of the regional economy also enjoy tax exemptions, as do those considered "free zones". Logically, the transport and communications network is another mainstream of the islands, highlighting the eight airports (six of them international), the forty-one commercial ports, the twenty marinas and the more than 4,500 km of roads.

Of course, those who are considering the possibility of settling in one of the main towns of the archipelago, will enjoy an immense offer of catering and leisure services. In Tenerife, known worldwide for its carnival celebrations, the recreational options are multiplied, with the Playa de las Teresitas, the avant-garde Auditorium of Tenerife and the Basilica of Our Lady of Candelaria as essential tour recommendations. The following offers in Las Palmas de Gran Canaria, Las Canteras Beach, Casa de Colón and the didactic Elder Museum of Science and Technology, among others will also fulfill the need for entertainment.

Taking all of the above points into account, it is evident that the Canary Islands can boast of offering a remarkable quality of life. This is the main reason why commercial property investment will always find a large potential market. Of course, those who buy a property to settle in the archipelago will also have made a wise decision. In both cases, the Canary Islands currently has a long and varied list of properties to invest in.





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