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Real Estate
Rajeev Bhagtani | rajeevbhagtani

Real Estate Trends in Gran Canaria

Feb 24th 2015 at 5:22 AM

The quaint island of Gran Canaria is one of the hotspots for property sale and purchase in 2015. Reason? Well, more and more people, all around Europe want a dream home that’s nestled in serenity. Others want a vacation friendly condo, while there are several who wish to invest in a quality retirement home. And that’s why there is an evident boom in the real estate of Maspalomas and other regions in and around Gran Canaria.

More and more people are buying apartment in Gran Canaria, which has led to a rise in the property prices of this region. In fact, the prices have risen here for the first time in six years, which makes it ideal for sellers who wish to put their properties on markets. Several economists now believe that Gran Canaria can be the most popular ‘dream home’ and ‘retirement’ destination in Europe and suggest that those who wish sale and purchase of the property should do so sooner to ensure that they don’t have to settle with higher rates or undesirable properties in near future.

The turnaround of real estate in Gran Canaria is also an indicator of the rise in Spanish economy in general. And since a number of Europeans have gone ahead and purchased properties in the region, the rise of real estate reflects a surge in foreign investment as well. Most of the foreigners either purchase condos or go for villas for rent in Gran Canaria, particularly when they are on business tours for longer durations. Locals and nationals choose to go for apartments if they are on a budget.

If you are planning of selling your property in Gran Canaria, it is recommended that you get free valuations first, especially because the rates are increasing. This will help you know the value of your property and give you the opportunity to renovate the house if needed. Similarly, if you are planning on purchasing a property, it is recommended that you get a real estate agent, ask her/him to provide you listings of property in your favorite region and shortlist them accordingly. You should always have mortgage providers or loan providers ready so that you can buy the property as soon as the seller approves your quote.

While selling property, don’t shy away from renovating house, adding rooms or fresh paint. These simple renovations might not cost you a lot, but they will certainly increase property value manifold. And if you are purchasing a property, ensure that you do opt for a consulting company or agents who provide post-sale services as taxes and laws can be quite tricky in Spain. The company should deal with your taxes, provide you insurance assistance and get everything transferred to your name when you purchase the property.

It is time that you reap the benefits of booming real estate in Gran Canaria and invest on property purchase or sale now.

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