Last updated on June 21st, 2023
airbnb property for sale Las Palmas
The capital city of Gran Canary, Las Palmas, is the perfect place if you want to try new experiences while enjoying its captivating landscapes and fantastic historical heritage.
Las Palmas offers you the best of both worlds, whether you want to visit cultural landmarks in towns that give off colonial vibes or scenic and majestic beaches, this city has it all. As a popular Spanish touristic center, Las Palmas welcomed more than 5.5M tourists arrivals in 2021 according to Canarias Ahora report.
Before starting an Airbnb business in Spain, you should not only consider the property’s architectural design or its close proximity to major tourist areas but also determine its profitability and other major costs.
According to Idealista 2022 Housing Profitability report, Las Palmas has a rental yield of 6% and house values had an evolution of 4% compared to 2021. Taking this into account, Las Palmas’ market can surely bring great benefits to investors that are looking to invest in a property here.
Source: Idealista
Airbnb occupancy rates in Digital Nomad Cities declare that an average host in Las Palmas can earn up to €20,233 during the peak seasons of November – December. With over 1,417 Airbnb listings in Las Palmas, it’s certainly a catch for property investors!
Aside from looking at a property’s fascinating architectural design, proximity to major tourist areas, and accessibility to the best go-to places, the primary step is to determine profitability. In this article, we’ll discuss the metrics in order to gauge the best property investment in Las Palmas, which is an essential step when buying a property investment in Spain.
This includes the best website recommendations for property investment, defining property gross rental yield, cash-on-cash return, and annual revenue, along with some of the most ideal and profitable properties according to their location. Stoked to learn more? Continue reading!
Is Property Investment Profitable in Las Palmas City Center?
Using a short-term rental calculator, it was discovered that a 2-bedroom apartment in Las Palmas City Centre can generate an annual revenue of €24,494 with a steady occupancy rate of 90% and a nightly rate of €71. Based on Airbnb rules in Las Palmas, it is legal to operate an Airbnb following certain regulations.
airbnb property for sale Las Palmas
Profitable Houses & Apartments for sale in Las Palmas
Finding the best properties that have the potential to produce high yields and capital growth are certainly some of the preferences of major investors. It’s always best to ask for assistance from real estate agents to access exclusive and unique properties during the development stage.
At the same time, it’s even better when a property investor like you conducts research about predicted growths and market forecasts. You can buy profitable houses and flats in Las Palmas, particularly in captivating places like the charming towns of Moya, Vegueta and Triana or even near Playa de la Laja. Here are some of the profitable properties in Las Palmas along with the calculated gross rental yield, cash-on-cash return, and annual revenue:
Párroco Juan Diaz Rodriguez, Moya
1. Studio-type Property for Sale in Las Palmas
Near San Bartolome Square
Asking Price: €59,000
| GROSS RENTAL YIELD | 22.86% |
| ANNUAL REVENUE | €13,490 |
| CASH ON CASH RETURN | 42.83% |
3. 1-Bedroom Property for Sale Las Palmas
Near Les Cruce Institute
Asking Price: €56,000
| GROSS RENTAL YIELD | 25.06% |
| ANNUAL REVENUE | €14,031 |
| CASH ON CASH RETURN | 49.40% |
La Isleta, Las Palmas de Gran Canaria
3. 2-Bedroom Property for Sale in Las Palmas
Near Princesa Guayarmina
Asking Price: €78,000
| GROSS RENTAL YIELD | 24.49% |
| ANNUAL REVENUE | €19,100 |
| CASH ON CASH RETURN | 47.69% |
El Doctoral, Santa Lucía de Tirajana
4. 3-Bedroom Property for Sale in Las Palmas
Next to the bus stop ‘Avenida De Las Tirajanas 239 – Doctoral
Asking Price: €89,000
| GROSS RENTAL YIELD | 25.76% |
| ANNUAL REVENUE | €22,928 |
| CASH ON CASH RETURN | 51.52% |
San Juan de Dios-Salto del Negro-Playa de la Laja, Las Palmas
5. 4-Bedroom Property for Sale in Las Palmas
Near Parroquia Nuestra Sra De Fatima
Asking Price: €92,500
| GROSS RENTAL YIELD | 25.63% |
| ANNUAL REVENUE | €23,708 |
| CASH ON CASH RETURN | 51.12% |
Conclusion
Since Airbnb is rapidly increasing and constantly changing for each city in the world, it is crucial to make decisions based on wild guesses. The data points mentioned in this article for Las Palmas such as Airbnb occupancy rates, annual revenue, and average daily rate should be the primary basis before investing in a property.
Hence, if the data presented above has given you ideas to boost your strategic pricing plan for your business, then an Airbnb rental arbitrage calculator is certainly what you need for success in the long run. It’s a fact that some of the STR investors are also considering Airbnb Rental Arbitrage, but they still need to have a reliable data tool on which to base their conclusions!
As we live in a digital era, an accurate data analytics tool can help your business stand out among your surrounding competitors and benchmark your property by tracking the occupancy rates of competing listings in your preferred city.
