Arona and Adeje Lead the Holiday Rental Sector in the Canary Islands
Both municipalities situated in the southern part of Tenerife boast the highest number of tourist apartments, and paradoxically or not, it is particularly challenging to acquire a conventional rental property in these areas. This situation arises from two key factors. Firstly, there is the lucrative nature of a fast-growing market, albeit experiencing a slight downturn after the peak at the beginning of this year, particularly following the announcement of a regulatory law in the Parliament of the Canary Islands, anticipated to take effect in 2025. Secondly, specialists highlight the legal assurance that short-term rental arrangements, spanning days or weeks, offer to property owners when compared to traditional lease agreements. An evident illustration of this is that Arona and Adeje account for 8,046 holiday homes, whereas traditional rental properties total just 266, as per Istac data from May. On a broader scale across the island, the disparity is similarly stark: 18,140 holiday properties compared to a mere 952 conventional rentals.
