Playa del Ingles (Gran Canaria) property report 2008

The south of the island has its own unique micro climate and excellent warm, sunny weather here is guaranteed. The emphasis is on living by the sea or with sea views and properties tend to be more recent. In this area there are still a lot of new developments coming onto the market. New facilities include a new sports complex at Monte León. The island is becoming increasingly accessible with more daily flights and new routes coming on line.

Report prepared by local estate agents

Here the local office has seen market values increase slightly for specific properties such as well appointed apartments, chalets and plots of land with average costs of €250,000, €350,000 and €1,000 per sq metre respectively. Villas, which average in price of around €1 million, are holding their value and most property is selling within the year.

The main demand is for apartments and villas with more requests for contemporary designer properties and 40% of buyers want a second home, 30% want a first residence and 30% are investing.

Once again there is an international market here split between the main markets of Germans, British, Irish (recent rise in Irish investors) the rest of the market made up of Spanish, Scandinavians, Swiss, Dutch, Belgian, French and Russians. The majority of buyers are over 50 years of age reflecting the fact that the area is popular with retired buyers.

The local office enjoyed a good 2007 and is bullish about its prospects in 2008. It highlights the areas of Monte León, Torra and Salobe Golf as areas to investigate this year.

Playa del Ingles (Gran Canaria South) Property Prices

Villa with views, 4 bed, 350m2 1.000.000 € No change 10 months
Villa no views, 4 bed, 350m2 800.000 € No change 11 months
Apartment with views, 2 bed, 100m2 250.000 € Slight decrease 8 months
Apartment no views, 2 bed, 100m2 230.000 € Slight decrease 6 months
Country house, 3 bed, 350m2 1.100.000 € Slight decrease 14 months
Townhouse, 3 bed, 180m2 350.000 € Slight decrease 6 months
Plot m2 1.000 € Slight decrease 7 months

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