Average Plot Prices in the Canary Islands: A Comprehensive Guide
Average Plot Prices
Are you considering buying a plot of land in the Canary Islands? Do you want to know the average prices per island? Look no further, as we have prepared a comprehensive guide to help you make an informed decision. In this article, we will provide you with the latest data on average plot prices in the Canary Islands, as well as factors that may affect these prices. Let's dive in.
Introduction to the Canary Islands
The Canary Islands are an archipelago located off the coast of West Africa. The archipelago comprises seven main islands: Tenerife, Gran Canaria, Lanzarote, Fuerteventura, La Palma, La Gomera, and El Hierro. The Canary Islands are known for their beautiful beaches, warm weather, and diverse landscapes, making them a popular tourist destination.
Factors Affecting Plot Prices
Before we delve into the average plot prices in the Canary Islands, it is essential to understand the factors that may affect these prices. These factors include:
Location
The location of the plot is one of the most significant factors that affect its price. Plots located in popular tourist areas, such as Playa del Inglés in Gran Canaria, tend to be more expensive than those located in less popular areas.
Size
The size of the plot is another crucial factor that affects its price. Larger plots tend to be more expensive than smaller ones, as they offer more development potential.
Planning Permission
Plots with planning permission tend to be more expensive than those without it. Having planning permission means that you can build on the plot, which adds value to the land.
Infrastructure
The availability of infrastructure, such as roads, electricity, and water, can also affect plot prices. Plots that are already connected to infrastructure tend to be more expensive than those that require additional infrastructure.
Average Plot Prices in the Canary Islands
Now that we have discussed the factors that may affect plot prices let's take a closer look at the average plot prices per island in the Canary Islands.
Tenerife
Tenerife is the largest of the Canary Islands and has the highest population. The average price of a plot in Tenerife is around €150,000. The most expensive areas on the island are the south and southwest coasts, while the north and northeast coasts are generally more affordable.
Gran Canaria
Gran Canaria is the second-largest island in the Canary Islands and has the highest population density. The average price of a plot in Gran Canaria is around €170,000. The most expensive areas on the island are the south coast, especially around Maspalomas, and the areas around Las Palmas de Gran Canaria.
Lanzarote
Lanzarote is the easternmost of the Canary Islands and is known for its volcanic landscapes. The average price of a plot in Lanzarote is around €120,000. The most expensive areas on the island are the south and west coasts.
Fuerteventura
Fuerteventura is the second-largest of the Canary Islands and is known for its white sandy beaches. The average price of a plot in Fuerteventura is around €80,000. The most expensive areas on the island are the south and east coasts.
La Palma
La Palma is one of the smaller Canary Islands and is known for its lush green landscapes. The average price of a plot in La Palma is around €70,000. The most expensive areas on the island are the west coast and the areas around Santa Cruz de La Palma.
La Gomera
La Gomera is one of the smallest Canary Islands and is known for
its stunning hiking trails and natural beauty. The average price of a plot in La Gomera is around €50,000. The most expensive areas on the island are the north and west coasts.
El Hierro
El Hierro is the smallest of the Canary Islands and is known for its pristine nature and clear waters. The average price of a plot in El Hierro is around €40,000. The most expensive areas on the island are the south and west coasts.
Conclusion
The Canary Islands offer a diverse range of landscapes and climates, making them an attractive location for those looking to invest in a plot of land. The average plot prices vary across the islands, depending on various factors such as location, size, planning permission, and infrastructure. Before investing in a plot, it is essential to consider these factors carefully and research the area thoroughly.
FAQs
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Can foreigners buy land in the Canary Islands? Yes, foreigners can buy land in the Canary Islands.
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Do I need planning permission to build on a plot in the Canary Islands? Yes, you need planning permission to build on a plot in the Canary Islands.
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Are there any restrictions on building in the Canary Islands? Yes, there are restrictions on building in certain areas of the Canary Islands to protect the environment.
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Are there any additional costs involved in buying a plot in the Canary Islands? Yes, there are additional costs involved in buying a plot in the Canary Islands, such as taxes, notary fees, and registration fees.
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Is it recommended to use a local real estate agent when buying a plot in the Canary Islands? Yes, it is recommended to use a local real estate agent who understands the local market and can provide you with valuable insights and guidance.
