Brits, Germans and Scandinavians buy 20pc of apartments in The Canaries

canary island property market
Canaries landscape with housing in tourist area

Foreign buyers are back house-hunting in The Canaries, reports the Spanish press.

After a few years of absence, Northern European buyers are back buying homes in The Canaries, if data from local real estate companies is to be believed.

British, German, and Scandinavian buyers made up 20pc of the market in the last year and a half, according to reports in the Spanish press (Provincias).

Resurging demand is being driven by stronger economies in the North coupled with lower property prices in The Canaries. This is also driving an increase in foreign interest for property for sale in other coastal areas of Spain.

Beach-front properties between 110,000 and 120,000 Euros are most in demand, particularly in Las Canteras, Mesa y López, Arenales, Triana and Siete Palmas – areas that tend to offer recently-built resale properties.