Gran Canaria leads the way as Canary Islands hotel investment rises 300%
Gran Canaria leads the way as Canary Islands hotel investment rises 300%

The Canary Islands were the most popular region in Spain for hotel investment in the first nine months of 2015 with a total of 369 million euros invested.

The figure is a 300% increase on the 136 million euros invested in the whole of 2014 which was itself a 55% increase on the 2013 figure.

The money was spread across 15 separate investments affecting a total of 5.636 tourist beds.

Gran Canaria accounted for a large proportion of 2015 spend thanks in part to a 75 million euro investment by the Hispania group. It acquired four Gran Canaria hotels ( with almost 1200 beds) from Grupo Dunas and also committed to investing a further 9 million euros in refurbishment.

Total hotel investment in Spain during the period increased by 54% to 1,237 million euros and 2016 is forecast to be another good year with Socimis ( Sociedades Anónimas Cotizadas de Inversión Inmobiliaria: Listed real estate investment societies) expected to spend heavily in Spain.

The Hispania investment in Grupo Dunas hotels was an example of a Socimi investment.

With demand for holidays in the Canary Islands at an all-time high and the year-round nature of tourism in the archipelago, Gran Canaria and the Canary Islands are currently a European real estate investment hotspot.

At Cardenas Real estate, we have 30 years of investment experience and our legal department specialises in property law and transactions. If you are considering a Gran Canaria property investment, we are the safe and smart way to buy property in Gran Canaria.