The issue of buying properties by foreigners is a real concern in the Canary Islands, just like in many other places worldwide. It causes significant disruption, especially in regard to various aspects. A report by Idealista highlights a town in Tenerife where the number of homes purchased by foreigners has seen a substantial increase, and the diversity of their nationalities is quite remarkable.
Among the 25 locations across Spain included in the Idealista report, four are situated in the Canary Islands. All of these areas have witnessed a surge in property purchases by foreigners in recent months. Fañabé Beach in Adeje, Taurito-Playa de Mogán in Mogán, Gran Canaria, Vallehermoso in La Gomera, and the majestic Los Gigantes cliffs in Santiago del Teide have all experienced a high volume of property transactions involving individuals from outside the Islands.
One noteworthy observation pertains to the Los Gigantes cliffs, where Lithuanian citizens stand out as the most frequent buyers of properties, despite not being one of the largest nationality groups in Tenerife. According to Idealista, foreign demand in this area stands at 61%.
