Why I would not invest in Real Estate in the Canary Islands
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- čas přidán 4. 06. 2024
- 📌 Video credit: Google Earth
I spent a week in the Canary Islands and had a look at the real estate market on Grand Canaria.
Time stamps:
00:00 Introduction
00:53 Price trends in the real estate market in the Canary Islands
02:30 Why I would not invest in the local real estate market in Spain
07:20 Poor architectural value
08:57 Examples of coastal real estate in the Canary Islands at an agency
09:42 Residency in Spain - who is it interesting for?
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Life is not only about making lots of money on everything you buy.
Investing in quality of life, general safety and enjoying outdoors all year round has no equal!!
Anyway, all the best!
You definitely get it. Well said!
For the love of god, you were there in a pandemic!
The global economy is struggling.
I was there last September 2022. It is booming lots of tourists. Especially in Puerto Rico
Honestly, not offended but you are wrong in many aspects. Puerto Rico is one of the cheapest tourist places in GC, also houses are dedicated to tourism there, no one really lives there. Finally, the McDonald's that is closed its because they made a new one in the new mall upper in the same street.
We bought in Tenerife 22 years ago. Yes we dipped, but rising reasonably fast now. My son in law owns 3 properties and lets one out on long term rent and another for holiday let. He makes a good living. We have a fabulous life style. The country has a solid agricultural base and local wines are terrific. Farmers market keeps us going together with buying other locally produced foods. Fewer tourists is good. So are fewer of the rubbish business that served them. There is a wonderful strong cultural base of music and dance, archaeology and history. We have a superb university and strong research in alternative technology. You do not understand this place at all. There are lots of Canarian traditional properties, if thats what you want. Our small communidad is superbly built and at 20+ years old is just like new.. You need to get about more on these islands. There is a thriving population of YOUNG professional people from all over Europe too. There is surfing and windsurfing world events here and thriving tennis and football clubs. You really have got the wrong idea. Retireds have left in droves, mainly because of non entitlement to health services and the 90 restriction.
success stories: Balenciaga, Santander, Seat
The big point you're missing is how good the weather is in Gran Canaria. Still 20 degrees celsius plus average in December and January. Doesn't even get too hot in the summer.
True. Amazing weather!
That's not the only thing he is missing but anyway!
Yeah thats the big thing for me what I like with the island.
Im from sweden the capital city its expensive and pretty good wealth here but the winters suck in the future i want to spend the winters in canarly island or another warmer place
We had here in europe a thing called “corona” thats way everthing is closed and no turists mate! You should also say that!
You are right in many things. Economy is not great in Spain, many business have closed, but at least i can go to the supermarket and go back home alive. I can also send my kids to school and not send my DNA to identify their corpses.
He filmed DURING the pandemic! Please. Gran Canaria was the first tourist destination to surpass pre-pandemic tourism. Nostradamus this guy is not. It’s not like US tourist destinations. They actively try to avoid gentrification that has ruined and is ruining so many places in the US. Aside from the weather it’s also a very SAFE place. That’s becoming increasing difficult in the US! Granted the buildings aren’t the most beautiful due to the fact That most were built in the 70s and 80s. The quality of life is outstanding here.
Not for long
As a Canarian myself I totally agree. But I wonder where the heck are my monthly EU paychecks? Excellent analysis though, based on a week stay ina touristy area, McDonalds and your overall laziness and lack of knowledge, together with afew drops of snobery and racism.
I hope many of my countrypeople watch this video so they can understand what foreigners really think of us and what is the very nature of the tourist industry. Once we have covered the islands with concrete and asfalt so the scum of Europe can have cheap holidays, we have exhausted water and our natural resources and artifitially increased the price of real estate to the point that our citizens can't have access to a decent flat, now it turns out that foreigners don't like it. Brilliant.
Hi, please don't take the opinion of this douchebag as the opinion of all foreigners. Like you said the is an racist and snob. I love Tenerife and the Canarians and I think the people are some of the nicest I met in europe so far!
The guy in the video does not represent at least norwegian views on Spain. Most people in Norway dream about owning property in Spain and we do not love it just for the climate, but also the local people and culture.
Hey. There are an another mc Donald’s little further up the street! So your comment are not objective!
And since it’s COVID now, there are just a few tourist here now. The normal occupancy is in winter around 93-97%!
And this is another fact you are telling in your report! In the area you are average is more like 3000 euro sqm.
With all respects; To analyse the Spanish market based in a week in a tacky dated area in Gran Canaria is very poor. Research a little more virgin beaches and luxury areas where terraced houses are sold to really wealthy Asian investors for £1m plus.
Yes, taxes are high for the super rich but, in comparison with Europe, they are actually low.
As a Londoner with property in Tenerife I couldn’t disagree more.
Could you perhaps help me with information regarding property in canary islands?
Tenerife was always the more popular island.... However I feel he makes a good case for where he is at.
It was during the covid pandemic and is looking at only dollar signs.
I don't doubt your intention and sincerity but I'm afraid you just haven't done your homework.
Spanish food & drink exports (not just high street brands) have grown >80% since 2008 and it is now the fifth largest food exporter in Europe. Spain is a world leader in alternative energy technology and production, particularly photovoltaic and eolic. Spain boasts the world's third-largest number of UNESCO World Heritage Sites. I could go on, but you get my drift... a little more homework, please.
During your short visit you were absolutely correct to highlight that GC it is not a luxury destination. It never has been and likely never will be. It wasn never designed to be and in all honesty, Puerto Rico in the South could never lay claim to targeting a luxury market. It is a cheap, middle-class escape-to-the-winter-sun resort where rows and rows of ugly box houses are, or rather were prior to COVID lockdown and travel restrictions (exactly when you visited), consistently busy from November to March with Norhtern European visitors.
I actually laughed out loud when you compared the ugly architecture of Puerto Rico to "historical buildings in the centre of Budapest". Would you compare Benidorm with Le Maraise in Paris, or Magaluf with Prague? I do hope not. Did you take the time to visit properties which you might actually compare, in Vegueta or Triana, the historic areas of Las Palmas, for example? While Las Palmas may "have nothing, really, to offer" you, others see it as a small but cosmopolitan city, within the EU, with the best voted city beach in Europe and with one of the best climates in the world. And then there's the surfing on the North coast, the world class windsurfing on the East coast, ...
Just one comment, if you will allow me, on your rather annoying and ill-informd observations and conclusions on the nastiest of all food chains. Not that I would consider it a useful measure of any cultural enclave, but, as other have pointed out, the "closed" McDonalds you seemed keen to focus on is the old one... a big new one has opened just up the road... sadly! But again, poor research can only reach poor conclusions.
That said, your conclusions, somehow, and despite the focus and content of your research, that the nasty, tiring and ugly tourist resorts of the south will not appeal to anyone seeking capital gains are spot on. They are overpriced Norhtern European ghettos where I see far more downside risk to valuations than investment opportunities. Further, your overall conclusion that the Spanish economoy is hurting right now, and the Canarian economy more than most other provinces, is also, sadly, very accurate. That's what happens when you are just far too focused on one source of foreign income... tourism. To rely on the fickle whims of low-cost airlines has again been proven a great folly.
Perhaps for those "travellers" looking to own porperty on the island, and to whom I presume your vlog was intended and directed, the interior offers an amazing array of old, rustic, charming doer-uppers, either in villages or more remote locations. Given that by your own admission you spent most days hiking, why didn't you focus this wonderful vlog opportunity on the parts of the island you actually did explore and enjoy. I caveat my opinion as being wholly biased, of course, living as we do in the magnificent interior of this truly stunning island.
Maybe we can look forward to another, and perhaps more useful, fair and representative report on buying property on Gran Canaria if you return to hike here again. You would be most welcome and I guarantee that in one week you hardly scratched the surface of the hiking and climbing opportunities here. It truly is an awe inspiring corner of our planet to call home.
Thank you, appreciate your post.From Stockholm,Sweden.
thanks david，culturally perfect explanations
I agree! It’s a very Ill informed analysis. But I do think he’s intending to seek places for multiple investments not just looking for a second home for himself. I have an acquaintance who has several Airbnb’s in Maspalomas. They’re at full occupancy until (2023) next summer.
In retrospect it's not very wise to draw any conclusions based on the pandemic. Yes, places were closed and beaches empty, but most of us knew it was very likely a temporary thing. Most that make an investment do it long term. So yeah, I don't get what the point was pointing out how empty things were etc. The Canary Islands are paradise. Perfect weather all year around and a wonder quality of life if you can afford a place there. That's what I am aiming for.
Stopped watching when you started criticising the marina for luxury occupancy, as being full of 'below average' boats. Irrelevant and pathetically snobby comment. I'm not a fan of most spots in the Canary islands for other reasons, but criticising the lack of luxury yachts? Really? Can't get off this content fast enough!
There is also a small difference between recreational sailing in the Mediterranean sea and real sailing in the Atlanticn ocean. These fine gentlemen with their very large yachts tend to prefer the children's playground with the more gentler swell.
Strange guy though. I wouldn't let him advise me on my real estates investments.
The world is closed because c 19 hit every country. Doesn't matter where you go it's all dying. I have been to the Canary Islands and it's a busy place. With wants happening around the world the Canary Islands is a safe place with no one going to war.
I wouldn't trust the opinion of someone who is only visiting the islands. All European countries economies were devastated by the pandemic. The Canary islands were hit hard and honestly I was expecting a property price crash. This still hasn't happened. If your looking for capital gains then maybe not the best place in the world but for lifestyle choice and better standard of living with some of the best weather in the world it's not a bad choice. I personally live in and prefer Tenerife which offers everything from forest and mountain hikes to the beach goers. Cost of living is sooooo low. I went from paying £150 a month in council tax in the uk to 300 euros per year council tax.
6 months later and Gran Canaria is the first tourist destination in Europe to surpass pre-pandemic tourism. The summer at full occupancy. So much for not aging well. By the way, I’ve lived in both Tenerife and Gran Canaria for the same amount of time and prefer Gran Canaria. Surely you didn’t miss the forests and hiking in the middle of the island, with wonderful, authentic villages that so many people miss. Gran Canaria has much better beaches and the dunes in Playa del Ingles/Maspalomas are stunning. The largest plus is having a real city close by. Tenerife has too many Brits that want to claim the island as another British isle. It’s great if you don’t want to submerge in the culture. The Germans and Norwegians are much better at assimilating into the Spanish culture.
Where’s this bloke from? How’s his home country? I’m from the uk my wife is canarian and we live in Sydney. We are going to invest in the Island and hope others do the same to help them kick start the economy.
Guessing from his accent, US or Canada.
Very clear and easy to understand
Have you had any analysis done in Açores or Madeira? Same situation for the most part? Interested in Agriculture there but seems that the real estate falls into the same trap. Thanks
In an era of energy crisis and various issues in Europe, more Europeans will look for calm in such places. My analysis would be different now of the Canary Islands. Still not bullish tourism as Europeans will have less money due to inflation, but more people will move there full time.
@@TheWanderingInvestor Right, so these islands are not a place to boom but not a place for doom either
Im in Montenegro now and feel a little let down honestly. The prices really have spiked + the debt, deficits & unemployment in a rough spot. Plus friendliness compared to Serbs seems like Apples to Oranges (IME). Tourist tax is mental as well. Do you know the demographics here (who's coming in? What happens if those cruise ships stop showing up to the bay?) Cheers🍻
@@mattball7074 The cruise ships just bring some taxes and day tourists. Not that much of an impact on demographics.
But yes, bad demographics, debt, and more taxes than before. Don’t expect much better in Spain. It’s a general European thing. At the end of the day the question is where do you want to spend time yourself vs. Taxes you are willing to pay
@@mattball7074 Prices going up, unemployment, poor demographics and debt issues are a recurring theme in Southern Europe. You just need to figure out where you like spending time and are willing to pay taxes.
@@TheWanderingInvestor Thanks! Appreciate it! It's hard to find "neutral" countries while rectifying that balance
Very informative, thanks 👍🏼
Good info thx. McDonald is not a value for me. Actually the fact that it’ closed is good for everybody’s health. The architecture is horrible but that results from greed and a lot of corrupted politicians which can be found everywhere….
Just get in a car and drive 10-20 minutes inland. You'll see none of these tourist boxes. They're all just near the beaches for the tourists who have no or low demands/requirements.
Good job, thank you. Greetings from Czech Republic.
Thank you for your personal evaluation of real estate investment in the Canary Islands. I happen to be from Gran Canaria, living in the US for nearly 45 years, and what I noticed is that the number of foreigners that have moved from Europe (England, Germany, Italy, France, etc.), has become significant over time, that is, whereas before they came for a couple of weeks, now they want to own a piece of the Island, and the result is overly inflated property prices totally related to the local salaries and purchasing power. This artificial price jacking (or unwanted social engineering) is why we really don't want (or need) foreigners to move to the Islands), so your "evaluation" is timely, and I fully support it, I would even suggest that you please take your money and go somewhere else - we do not welcome fiscal and financial exploitation.
Resumen fantástico ... El problema que tenemos en algunas partes del mundo es que personas como este tratan la propiedad como un bien financiero. Algunos, usándolo para lavar dinero y luego, como usted dice, descontar a la gente local que probablemente no tenga la riqueza para invertir. Está sucediendo en todas partes y reduce el valor de la arquitectura. Soy del Reino Unido y ha habido una situación terrible. incidentes en los que ministros corruptos del gobierno han permitido que las empresas constructoras de rouge construyan, lo que crea problemas para los compradores más tarde .. Revestimientos, arrendamientos ambiguos .. Lo odio ..
The guy is hoping to make big buck out of very hit due to corona situation. Well not in the Canaries man! He can go away and let the middle class boomers buy their property 🤣.
Says the foreigner living in the US 🤣
Totally agree. I'm not from the canarys, but bought a small residence in the mountains on la gomera. Not for financial reasons, but for health reasons.
The last person I'd like as a neighbour, is a guy like this.
@@martinjcooney4537 I am from Gran Canaria but in London for 10 years. Yes, we don't want investors in Canary Islands, that will increase the cost of living in the Islands. No thanks, don't invest in the Canaries.
Great video, thanks a lot!
Excellent video. I live in Gran Canaria and all what you have said is true! Thanks for this video.
would never buy in puerto rico or mogan ,why did you not look at the playa del ingles and maspolomas golf area would have love the opinion about that place?
Wow i love you content am broke but after watching i feel like i got alot of knowledge...thanks sir.....
9 months later - after covid-19 - you're hard up trying to find a hotel room for 2 weeks at a reasonable price. Flights are 10x what they were 2 months ago.
Petter Olsen has done pretty well for himself, with the ferry connections between the islands, and mainland. He also bought about 1/6th of the island of La Gomera, built a well established hotel with a great golf course, several restaurants & a bus route from Tenerife. That's just one example. You really are displaying your ignorance by showing that you really don't know what you're talking about.
Which isn't too bad - you aren't really needed here.
Get a coupla appartments on Manhattan.
After Covid-19? Covid-19 is very much alive and killing people. Now they have Monkey Pox in the Canaries.
Just wondering, arent you a bit too harsh on the Canaries? There have to be nicer spots, for example Teneriffa
A lovely place does not always mean a great investment, just as ugly places don’t always mean bad investments 🤷♂️
You’re right, you can definitely find prettier places on the islands, but much of the macro and architectural core points remain valid.
He’s gone to wrong island and now will start back tracking - it’s a typical mistake for people to make - Tenrife is booming
@@TheWanderingInvestor we buy for profit not for beauty .. I think you’ve off the wall with this review .. I’m 15 years investing in Tenrife and can tell you it’s not the same ..can’t comment on grand canaria but it’s not a reflection of the canaries
Gran Canaria is nicer overall than Tenerife to live…better beaches, a major city, lush forests in the center of he island, great weather all year. This guy just seems to have gotten off the plane and now he’s an expert. It the first place that has gotten back to pre-pandemic tourist levels.
Is Ethiopia worth investing in? They have a large population.
Many limitations on foreign investors make it very complicated.
yes i did..good luck and stay safe
If you looking for a nearby tropical climate in Europe in the European winter time, as EU - where do you go? Of course the Canary Islands. You are soooo way off with this video.
Of course you can travel to Egypt, to Turkey or any other country outside the EU. But, why? For me it´s not a real choice. Sorry, I agree to disagree, so that´s it.
Nuff said!
A place being pleasant (which the Canary Islands are), and a place being a good real estate investment are two very different topics
@@TheWanderingInvestor: Totally dependent on where you buy property. You can find property for as low as € 0.60/m3 & develop yourself. Which WOULD be a great investment. Because of the reasons stated by Abrahamsson above.
Great analysis as usual. Keep up the awesome work!
Spain and southern Europe in general is quite poor for real estate. I'd say for EU countries the central European countries are doing best especially Poland and Czech they are restoring their historical positions again in Europe and if the politics there levels out great potential in the major urban cities
Good video. I'd be very interested in your opinion on Maspalomas and Meloneras in 2023.
Very well presented . Good for retire . Thanks .
It's not like that in Valencia (Spain too but continental), here, things are opened, a lot of people in restaurants, bars. I'm french, i live in Valencia since 2011, and i did invest in real estate for a living, that's my income since i'm here. Thanks for the video, i wouldn't like to invest in real estate in Canarias, lack of activity.
Thanks for sharing!
Are you working or dealing with Canadians? I am really intersted ! Thanks
I do. Feel free to get in touch with me through my website.
@@TheWanderingInvestor This is your web site ?
@@honoriunicolau2301 www.thewanderinginvestor.com
This video didn't age well. Canaries are booming
I was thinking of buying a house in Fuerteventura and work remote some months of the year. Ultimate goal is to retire there some day so this video is really useful.
Lovely place to spend time for sure
Fuerteventura is a bit dull place to live, however. As someone who has retired to Gran Canaria and absolutely love it, remember that you’re on a island! There lots of culture (musical concerts if all kinds, theater, art, museums) in Las Palmas. I have friends that moved here from Fuerteventura. This guy missed the mark here completely.
Why did you choose Fuerteventura over the other islands?
@@omaritani3729 Maybe because it has, by far, the best beaches of the Canary Islands. Aside from that there's not much else to do, unless you enjoy mountain biking. Also, some people prefer the slow and tranquil lifestyle and compared to Fuerteventura, GC and Tenerife are like new york.
what country that realise on tourism isnt on its arse at the moment ?
Panda Security, Inditex, SEAT and Desigual are some of the spanish big companys you maybe have heard of .
SEAT belongs to Volkswagen.
Because you’re filming DURING the pandemic. Jeez! You might be interested to know that Gran Canaria was the first tourist destinations to surpass pre pandemic tourist numbers. The summer (2022) has close to 100% occupancy. Puerto Rico is not one of the better resorts. In fact, it’s one of the least expensive towns. Most Millennials still live with their parents, where are they investing?
Thanks for your opinion about investing in the Canary. In that case where would you buy to live in Europe? No job needed. Thanks!
Thank you. To live or to invest in? Those generally do not go hand in hand.
@@TheWanderingInvestor To live. I currently live in Switzerland and look for a cheaper destination to buy a home.
@@ariel_guerra there are countless options. If you want to discuss send me a brief and I’ll give you a quote: thewanderinginvestor.com/internationalization-and-diversification-consulting/
Hello Ladislas, could you do an update after the pandemic? Also some people here have mentioned that the charming places with better architectural value are supposed to be in the island center.
I would really appreciate.
P.S. Arent the rental yields of an Airbnb amazing, with low prices and occupacy all the year around?
Thanks. I don’t plan on going back for a while. Just look into buying / selling costs as well as taxes on rental income in Spain.
Brutal.
For lifestyle with side income, great. For pure investment, I’d rather focus elsewhere.
Believe it or not, nowadays Spain gives more money to EU than EU to Spain.
Hi. You know those little yellow birds, look a little like a budgerigar...they are called Can air ..reeez.
As are our fabulous and much loved islands.
And most people do not buy as investment but more for retirement.
Great place for retirement 👍👍
after April, we are in low season.... Come back in October in high season....
We can only hope this coming October will be better than the last
You are so right, it's very depressing, I won't buy a property there. I live in Fl. That looks very sad, even the cars look very old, the buildings are very ugly, sorry I don't see any progress. Thank you for sharing.
Moved to Gran Canaria from Fort Lauderdale 7 years ago. I lived in FL due to my job for 9 years. It’s so much nicer and a better quality of life here. He filmed DURING the pandemic in a tourist destination! What would you expect? It’s mostly middle class. Most have very nice newer cars here, but not US huge gas guzzlers generally. It was designed as a middle class tourist destination. It doesn’t have huge wealth, but doesn’t have dire poverty like many neighborhoods in FL. The island is virtually violent crime free. I left FL after my car got broken into 3 times and there were several break ins in a nicer area in FTL. Drugs and “Florida Man” aren’t an issue here. The people are all very nice and welcoming. I can go out at night without having to look over my shoulder. There aren’t gangs and vagrants like in FL, No car jacking and corner store robberies, no gun culture, no conservative nut jobs. It’s a very live and let live atmosphere. The weather is so much nicer. It’s in the 70s all year without horrific humidity and downpours like in southern Fl, or threats of hurricanes, no mosquitos, bugs or critters. You can actually leave the house in the summer without the need for constant air conditioning. No oppressive route 95 traffic. The infrastructure here is infinitely better. There’s a great bus service that far outshines anything in the US. It hasn’t been gentrified (yet) with the middle class being pushed out for luxury high rises that very few can afford and middle range places being astronomically priced. Most of all, there’s no Florida Man (you know what I mean..just really weird things happen there!) To be honest, this guy did a poor analysis of the the island just based on a few visuals. He missed about 90% of the island. There’s really much, much more than meets the eye. Europeans just generally live in less space. They don’t need to collect “things” like in the US to make them feel better about themselves. It’s an extremely pleasant place to live with a great quality of life. Imagine if he just showed the strip malls and highway in FL. I’m kind of glad this guy won’t be investing as I don’t want what the horror of what I escaped. Greed corrupts everything.
Keep em coming man. Informative and to the point, as always. What's your next stop? By the way, I appreciate that you do a city walk/tour and show the area. A lot of travel-investor content creators just shoot from their hotel rooms and I'm like.... I need to see what you're talking about dude!!
Thank you Thomas. Germany and Austria for some business. Might do a small shoot there.
I do like a brutal honest opinion and if people don’t get it….Oh well! I totally do get what he’s saying and if I were to move to Spain it won’t be to invest…it’ll be for the sunshine 🌞
I think you went at the wrong time, been there this summer it was packed with people/tourists everything open lots of stuff to do.
Hi . I live in valencia and it s a total different story. You should come and meet here.
Next time!
+1
Very one sided view point. There are two sides to the islands, one is brutalist, tourism focused with low end buyers, the other is extremely high end, focused around the historial parts of the island with fabulous history, nature and food rolle into one, such as north Tenerife. The areas I refer two as high end, properties fetch for millions. The same way the islands have varied mirco climates, is the same way the property market is set out. I would sooner buy in north Tenerife than southern France.
doing research in a week after a pandemic?
Man, you came there on pandemic. The Canaries are usually flooded from all over Europe, especially in winter. Planes are packed and many Europeans buying flats there. Canaries may not look super luxurious, but Europeans have different mentality - they prefer simplier things!
This is all during the pandemic. Very different now
Great analysis, Spot on. One word for this.... Corruption.
I live in Gran Canaria, and you are rigth about what you say inthis video.
I live here too and he’s off base of most, with the exception that the architecture isn’t stellar. Some of the small towns are wonderful though. He filmed during the pandemic and the closed McDonalds was in the process of being moved into a new shopping mall. I understand he’s talking about investing, not say retiring here, but some areas are great investments such as Maspalomas. Occupancy is 100% this summer (2022) Puerto Rico is a a bit too far off the beaten track, isolated and family oriented for my tastes. Las Palmas is a city of 450,000 people but not so many expats live there. But I do most of my shopping and cultural events there. Gran Canaria a wonderful place to live. I can see not liking it as a younger person as there probably aren’t many upper level employment opportunities.
I like your video
Actually i think the place are getting better when there is not to much wealth there with super rich People i like the vibe more People are more down to earth
We bought for kids holidays. We plan to spend at least 1m a year.
As a lifestyle play, it’s very understandable. I enjoyed my time there. Will be back for more hiking ⛰⛰
Hi! Please do your homework and research topics before you make videos like that! What you are saying is a very superficial reflection, without any analysis, it is very amateurish. Hope to see more professional analysis in the coming videos. Thank you!
I’ll give you one good reason you should invest in Iberia and it’s islands , location,location,location.
that is 3 reasons... :)
Hey your analysis is onesided - its like to compare living on Mars with living on Earth - two worlds... People who buying real estate on Canaries - consider different things - like weather, location in the middle of nowhere - now war in Europe - so when its moves closer to EU borders it will be a verry good investment...
Don't Canary Islands have some kind of special low taxes unlike the rest of Spain?
In some special free zones yes
Hello,
Sorry about what L’m going to say but you are wrong on some aspects.
For sure, Gran Canary is not the place to be to spend money for tourists but there are many places to visit and enjoy.
The period you go was not representative I guess… Canarian Islands are very rich on many subjects… each island has specificities to discover.
On my side, I bought an appartment in Lanzarote to rent and my booking agenda is almost full (85% rate occupation during the year).
Maybe there is island better for investment, maybe Gran Canaria has suffered more than other islands, but I do not regret my real estate purchase.
Thanx for your videos, always interesting.
Sorry but Gran Canaria receives the doble tourism than Lanzarote and we have 6 times more population and bigger and also more luxury resorts. Puerto Rico is not the most luxury place in Gran Canaria......it was built in the 70s.
Lanzarote and Fuerteventura have suffered too much the crisis. And I have 3 apartamentos in Las Canteras beach and both three are full. Not to talk about Maspalomas, main canary touristic spot, Meloneras, Amadores or the famous Mogan.
Greetings from Las Palmas de Gran Canaria, canary capital.
Good morning boss....long time no hear....thank you for bringing us those informative info....please go back to the motherland AFRICA....GRACIAS BOSS....
insh'allah
You’re not wrong, not a lot of success stories coming out of Spain, save for Zara, Real Madrid, and Barcelona FC.
I like that you do your research before going to places and give an objective evaluation.
I think that you've not really grasped the true meaning of "objective" & "research".
if someone considers Zara a success then differs in values of what true success means
Isn't it during pandemic?
YES!!
A success story coming out of Spain? Zara, Bershka, Desigual... 30% occupancy? You were there right after the pandemic and in the lowest season... OMG - seriously, research a bit before putting videos out there. The Canaries are not a luxury destination but a popular place for medium income travelers. And if you go to a place built in the 80s, it'll be 80s architecture. How about you go to newer areas. And if you go to the old center of the old towns you will get old architecture. How ridiculous are your comparisons? Going to an 80s complex and comparing it to modern Dubai or ancient Budapest. I mean really, this video makes no sense. Painful to watch.
It’s a bit of a contradiction. You can’t wait to get away from the bad weather so you go to the canaries .. Tenrife is booking for next year .. booked out for this year .. flights are hard to book now - apartments get 500 a week .. not sure why grand Canaria has not taken advantage of the boom next door
It really has. This was filmed DURING the pandemic, what was he expecting? Gran Canaria is the first place in Europe to surpass pre-pandemic tourism.
Thank you for your honest and informative point of view.
Why did you say : I completely understand why Belgian people would move to Gran Canaria'?
Why would anyone want to live in Belgium if they can afford not to and are not eurocrats?
Hi everybody remember the content creator is differentiating between living there and investing there . He is the “ wondering investor “ so a place may be good to live in but not the best to invest in. I don’t think he is trying to put locations down but evaluate them from a business / profit point of view .
Thank you. 100%. Great place to live. Makes sense to buy if you plan on living there. But purely as an investment? No. I’ll be happy to go back, enjoy my time there, and rent a place from someone.
Funny enough he mentioned that beaches are stuck in the past, but not hiking... just because he likes hiking more...
Real Estate in grand caneria has gone up in price it a good place to buy property
(Income) taxes in western europe are wayyyy higher than on the canary islands. Wayyy higher.
La casa de papel ;) Success projekt
zara
Looks sad, it definitely peaked once; no flowers, shops closed, a mere figment of what it was. McDonalds closed too, that’s too bad.
It was filmed in the middle of a pandemic in a complete tourist town! The entire world was deserted! What would you expect? FYI the McDonalds was being moved from that location into the new Morgan Mall. That’s why it was closed.
Be nice if you could pronounce the name of the islands correctly.
2 years ago people were just coming out of the Pandemic, more like 75 - 80% occupancy rate now.
This was a 15 minute roast of the Canaries, but truthful.
6:00 - You summarized my feeling. It peaked long ago and not in an attractive way. No architectural value.
Now everyone happens to be an expert in architecture...
Cheaper than paying for natural gas during winter.
Definitely a potential change to the thesis
Exactly. Homes in the Canary Islands don’t require any fuel for heating. It’s one of the most stable climates in the world.
what about belgium ? why would belgians want to leave belgium so obviously ?
Just a bit of humour 😄
@@TheWanderingInvestor haha ok , 'cus i'm from there and I want to move to some place where there is sun so i can run around naked in my own food forest , not that easy to find tho !
I am from Gran Canaria. Everything is correct. Don't invest in Real Estate in there.
Lots of stuff left out of this analysis. For starters even though Canaries may have been open other Countries had their border closed so this means inhabitants were not allowed out of their Country depending on each Countries rules during the pandemic. Teneriefe Lanzarote, Gran Canaria open 365 and possible rental income for that period unlike other places even Florida has a winter so no income for let property during this time. Re the architecture no one only the Spanish can build into cliffs and they do it so well maxinising views, space and location. Many of us Europeans adore the Canaries, the light, the sun, the beaches and the simplicity of it. Many invest for many reasons. I agree that there is a two tier house price structure but apart from that you do a high handed analysis and based on that I get why you dont get the Canaries but i dont think they get you. Also your comment regarding the Spainish and what they have achieved is utter rubbish.
i don't think this video is relevant at this point, it was filmed in the mids of covid so whole europe was in lockdown
Perhaps some of your date is correct, but I dont think the video is honest, we were there a month ago and it was busy all the time.
Hi Ladislas, do you think Ukraine is much better for investing and living if you are making some money ?
For investing I'd say Ukraine is riskier but has much more upside. For living, that's a personal lifestyle decision, but yes taxes are lower in Ukraine
@@TheWanderingInvestor And now we know why!!!
@@davidj1684 Yup. The Ukraine risk materialized.
Even the football teams are in big big trouble , Barcelona is over 1,2 Billion Euros in debt so yeah Spain is definitely not the promise land
This ugly architecture compared to Ireland and UK is super luxury
It’s not supposed to be Ireland or the UK. It’s a SAFE, middle class tourist destination for the beach and sun.
I disagree with you. A leaving McD is a great signal for a come back to an original lifestyle. I went to Canaries in march 2020. It was like everywhere in EU, the politicians had decided to let their countries die. I would not invest anywhere in Europe as this continent goes 3rd world and it is wanted. Have you paid your CO2 tax already? Then stop breathing!
Where are you investing outside Europe?
How strange everything is closed.Ever heard of Corona vius,Covid 19?
You walked pass my home there
Volcano 🌋
You went to one of the cheapest parts of Gran Canaria and showed the oldest parts of the island. It is clear you want to avoid that people go to the mains european turositic destination, cause you want to sell houses who knows where....dont cheat people man!!!