Which Canary Island is Best for You?
There aren’t many places offering year-round sun within a four-hour flight. Warm seas and balmy beaches lure the ‘snowbirds’ from northern Europe to the islands every winter, although a small downside of their balmy climate is the odd sandstorm blowing off the Western Sahara desert.
Another key attraction is that the islands, in the main, remain relatively affordable, with a good choice of options if you have £150,000 or £200,000 to spend - which is not the case in the Balearics. Another attraction are the tempting tax rates of the islands - including the lowest stamp duty costs in Spain; and the special Canary Islands’ VAT (known as IGIC) has been reduced from 7% to 6.5%.
The Canaries are hard to beat but which of these much-loved islands is best for you?
Tenerife
The largest and most populated of the Canary Islands, Tenerife has enjoyed the love of Britons dating back to 1960s package holidays – and the tourism hotspot of the most southerly region of Spain is still on a roll. In 2023 there were more UK tourists visiting Tenerife than in 2019.
Moving to Tenerife from the UK is also popular, especially amongst retirees who like the balmy climate and laid-back island lifestyle.
It’s home to El Teide, an active volcano that is Spain’s highest mountain, and around this peak there is great diversity, from the island’s capital, Santa Cruz, that is a popular life year-round location for expats, to the bit resorts of the sun-drenched south-west, or the wonderfully charming traditional towns of the north (where the weather is not quite as good) or the tourist hub of the north, Puerto de la Cruz.
Their wonderful timber colonial buildings of some of these villages are an architectural link between Europe and the Americas. Some people love the feel of this part of the island but there are relatively few holiday apartments complexes - compared to the southwest.
But it’s to the resort areas around Playa de las Americas and Los Cristianos but also Adeje and north to Los Gigantes where the big demand tends to be. This part also offers a wealth of attractions including the vast waterpark of Siam Parque (Costa Adeje) and the upscale beach of Playa del Duque.
Los Gigantes is a friendly resort town at the foot of towering cliffs and offers a black-sand beach lined with bars and restaurants. Expect to pay from around €200,000 for a two-bedroom apartment.
It’s around the Costa Adeje that island's more sophisticated image has been cultivated in the last few years with the arrival of the five-star, oceanfront Abama Residences. You might get a townhouse for €300,000 plus.
In Playa de las Americas, you might need to pay a little more for comparables - a one-bedroom apartment on a frontline complex might easily cost €300,000, although you can also get two-bedders for that budget in less prime locations.
If you are thinking that you might rent out your apartment in Tenerife when you are not using it, just be careful that the complex permits this, and that the property is licensed for holiday rentals – the authorities have been clamping down on this so check before you buy.
Fuerteventura
Coming later to the tourist trail, Fuerteventura is certainly making up for it. It’s the second biggest island but one of the least populated, and viewers of A Place in the Sun TV show will have noted a flurry of house hunters for this island in 2023.
The hottest island offers vast expanses of pristine sand and dunes, surrounded by warm turquoise waters: it’s often referred to as Europe’s Caribbean. It’s also the windiest island, making it the island of choice for windsurfers and there are 152 beaches.
One of the reasons to buy a property in Fuerteventura is that it offers value compared to more established islands: that’s one reason why the market is so buoyant. Traditionally, it's been less developed than other islands but the areas of Corralejo, El Cotillo, Caleta de Fuste, Villaverde, Lajares have been putting the island on the second-homes map.
Most people will tend to head north from the airport to the biggest tourist hub of Corralejo on the tip of the island, facing the small islet of Lobos.
The former fishing village still retains its charm and holiday rentals can be a lucrative business as this is where many people want to be. There’s a nicely mixed community of expats including British and other northern Europeans. Prices are from €80,000 for an apartment through to around €200,000 for a three-bedroom villa with pool.
For smart villas look around Villaverde, ‘the Beverly Hills of the island’ on the road between La Oliva and Corralejo. Or you can head south a little more and you hit the purpose-built tourism hub of Caleta de Fuste, close to the island’s golf club, plus Costa de Antigua, a quieter area.
Caleta de Fuste is known for its golf courses and sheltered beach by the marina. You can buy a one-bedroom bungalow or apartment for around €120,000; and various larger options, up to a three-bedroom villa with a private pool for around €475,000.
Moving to Fuerteventura from the UK after Brexit? Be inspired by Steve and Sid who are doing just that after finding a home in Caleta de Fuste.
In the far south of the island Costa Calma is a popular spot, close to a sandy beach, and whilst property options are a little more limited, you can get anything from an apartment for €100k. Check out Morro del Jable where some recent TV house hunters struck gold.
Lanzarote
With its wild and volcanic landscape, Lanzarote has a legion of devoted regulars.
The island’s near rain-free climate and stark volcanic sands have made it a Unesco biosphere reserve and its eco-villages and laidback resorts now attract a younger set who go for surfing, yoga and biking on near-empty roads.
The island is conspicuously low rise, which is thanks to local artist and cultural ambassador Cesar Manrique who forbid the building of any high-rise towers, for low-slung white-washed properties.
The island offers over 90 beautiful beaches and as well as being a top diving destination there are perfect conditions for sailing, surfing and wind-surfing enthusiasts throughout the year. The island has three main tourist centres, Puerto del Carmen, Costa Teguise and Playa Blanca.
Playa Blanca is situated on the southern tip of the island with views to Fuerteventura. With its warmer microclimate and peaceful village centre, it is much loved by families and retirees. It is also the more modern and stylish of the three main resorts, with a marina. For a one-bedroom apartment, expect to pay from €80,000, up to around €250,000 for a three-bedroom villa.
Puerto del Carmen is the biggest resort on the island and is on the southeast coast. You can find a one-bedroom apartment for around €85,000 upwards - there’s a great choice of sleek, modern flats around large communal pools on attractive developments if you can stretch to €150,000. For a detached villa look to spend €350,000 plus.
Costa Teguise is another hot spot for buyers. Located on the eastern side of Lanzarote, it’s only 10 to 15 minutes by car from the airport. Expect to pay €100,000-plus for a one-bedroom apartment, €180,000 will be a decent budget for a two-bedroom property or even a small two-bedroom villa.
Gran Canaria
Gran Canaria is suited to all ages and is also one of the gay capitals of Europe - its Gay Pride is very popular.
It’s also home to a widely diverse array of backdrops – its mountainous north is cooler (just like Tenerife), so most sun-seekers head for the warmer sandy southern and eastern beaches. The south-east tends to be very popular with tourists, and for property hunters too. Playa des Ingles in the south is a lively spot, and Maspalomas, sitting amongst the southern dunes, is also popular.
For upmarket boutiques, hotels and villas, have a look at Meloneras, towards the family resort of Puerto Rico, with its pretty marina and sailing club. For a property in the centre of Meloneras, you’ll pay over €500,000 for a townhouse or villa. Small bungalows start from €180,000.
Thinking of moving to Gran Canaria after Brexit? TV househunters Colin and Richard chose Playa des Ingles for its lively nightlife combined with plenty of bike rides.
