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Best Places to Airbnb in Las Palmas: Top Location for Investment Properties

best places to Airbnb in Las Palmas

Key Takeaways

Las Palmas’ bustling tourist market, strong economy, and great living conditions allow hosts to earn a good passive income by owning vacation rentals. 

Discover the benefits real estate investors can enjoy when buying a property investment in Las Palmas de Gran Canaria.

We’ll feature the top 10 most profitable neighborhoods and nearby cities in Las Palmas as well as their recommended property types and Airbnb data. 

Introduction

Canary Islands is a destination like no other. Among its most popular cities, we can find Las Palmas, a place of undeniable beauty. With enchanting landscapes, large sand beaches, and an impressive historical legacy, Las Palmas is a land of unparalleled adventures and experiences.

If you’re evaluating the option of investing in Las Palmas’ rental market, you should consider essential factors. For example, learning about the Airbnb Rules in Las Palmas will allow you to manage a listing without any legal problems. Another one is choosing the right location, and we are here to help you in this matter.

In this article, we’ll reveal the best places to Airbnb in Las Palmas de Gran Canaria, and some of the expectations when investing in real estate in this city. Eager to learn more? Continue reading!

Why invest in Las Palmas de Gran Canaria real estate?

Starting an Airbnb business in Spain, specifically in Las Palmas, is an amazing way of earning a passive income since it is one of the best places to buy an investment property. But what advantages can Las Palmas offer to real estate investors? 

Check out some of the reasons why investing in a rental property in Las Palmas is an excellent idea:

  • Booming economy

Las Palmas enjoys a healthy financial situation and a friendly-business environment with an optimal infrastructure of services and communications. In fact, the city is one of the major contributors to Gran Canaria’s PIB.

Las Palmas owns a diversified economy, and its strongest sector is tourism with its high demand. Aside from the solid tourist market, other important contributors to the city’s economic situation are commerce, clean technologies, and science, particularly in astronomy.

  • A great place to live

Las Palmas is a popular destination that offers great quality of life, not only to its residents but also to its visitors during their stay. The city is an excellent place to live and work as it has mild temperatures, striking natural surroundings, and a variety of leisure activities. 

Additionally, the capital of Gran Canary offers a competitive living cost as well as easy access to high-quality services & amenities. Thanks to its comprehensive service offering, the city ensures the well-being of its residents all year round.

Bonus: Tax rates in the Canary Islands are quite lower compared to other European cities, with only 7% of the added value of the product. 

  • Unmatched experiences and adventures

Las Palmas offers plenty of leisure and entertainment options, so it’s almost impossible for visitors who like to have fun not to enjoy their stay in this city.

This charming city owns exceptional culture, history, and traditions with plenty of monuments of different historical epochs. So visitors can indulge themselves in unmatched experiences while strolling through Las Palmas’ cobbled streets.

With golden beaches and fascinating historical and cultural heritage, there’s definitely something exciting awaiting you in Las Palmas. Add to this the year-round pleasant temperatures, which open the doors to unique adventures every day.

Is Airbnb Profitable in Las Palmas?

Be at ease because Airbtics assures you that investing in vacation rentals in Las Palmas can help you to create a nice income stream. Yet, it should be noted that the profitability that a listing can generate also depends on factors like the property type and location.

Moreover, Las Palmas is not only a popular Spanish destination for digital nomads. It is also the most profitable city in Gran Canaria according to our previous blog! No wonder real estate investors are looking to target this market.

An Airbnb host can expect an average annual revenue of €21,524 and a median occupancy rate of 65% for operating a 2-bedroom property in Las Palmas as confirmed by Airbtics’ data. 

best places to Airbnb in Las Palmas

Best Places in Las Palmas, Spain to Buy Property 

Las Palmas is the most populous city in Gran Canary Islands, and it has around 70 picturesque neighborhoods. Hence, the profitability in each area is consequently different, so it can be a challenge to choose the right location to buy an investment property in Las Palmas.

Check out the best areas around Las Palmas that are recommended for rental properties:

Best Neighborhoods to Invest in Las Palmas
1. Vegueta-Triana
  • Total Number of Airbnb Listings: 114
  • Best bedroom size: 2 bedrooms
  • Median property price (2 bedrooms): €249,000
  • Airbnb Annual revenue: €26,235
  • Gross rental yield: 10.54%
2. Guanarteme
  • Total Number of Airbnb Listings: 269
  • Best bedroom size: 2 bedrooms
  • Median property price (2 bedrooms): €260,000
  • Airbnb Annual revenue: €23,265
  • Gross rental yield: 8.95%
3. La Isleta
  • Total Number of Airbnb Listings: 169
  • Best bedroom size: 2 bedrooms
  • Median property price (2 bedrooms): €245,000
  • Airbnb Annual revenue: €22,606
  • Gross rental yield: 9.23%
4. Santa Catalina
  • Total Number of Airbnb Listings: 748
  • Best bedroom size: 2 bedrooms
  • Median property price (2 bedrooms): €280,000
  • Airbnb Annual revenue: €22,226
  • Gross rental yield: 7.94%
5. Centro
  • Total Number of Airbnb Listings: 166
  • Best bedroom size: 2 bedrooms
  • Median property price (2 bedrooms): €264,000
  • Airbnb Annual revenue: €20,062
  • Gross rental yield: 7.60%
Best Nearby Municipalities to Invest in Las Palmas
1. Telde
  • Distance from Las Palmas: 19 kilometers
  • Total Number of Airbnb Listings: 262
  • Best bedroom size: 3 bedrooms
  • Median property price (3 bedrooms): €141,000
  • Airbnb Annual revenue: €27,365
  • Gross rental yield: 19.41%
2. Gáldar
  • Distance from Las Palmas: 27 kilometers
  • Total Number of Airbnb Listings: 110
  • Best bedroom size: 3 bedrooms
  • Median property price (3 bedrooms): €170,000
  • Airbnb Annual revenue: €23,201
  • Gross rental yield: 13.65%
3. Agaete
  • Distance from Las Palmas: 33 kilometers
  • Total Number of Airbnb Listings: 141
  • Best bedroom size: 3 bedrooms
  • Median property price (3 bedrooms): €180,995
  • Airbnb Annual revenue: €27,276
  • Gross rental yield: 15.07%
4. Maspalomas
  • Distance from Las Palmas: 55 kilometers
  • Total Number of Airbnb Listings: 444
  • Best bedroom size: 2 bedrooms
  • Median property price (2 bedrooms): €280,000
  • Airbnb Annual revenue: €24,222
  • Gross rental yield: 8.65%
5. Mogán
  • Distance from Las Palmas: 82 kilometers
  • Total Number of Airbnb Listings: 957
  • Best bedroom size: 3 bedrooms
  • Median property price (3 bedrooms): €317,000
  • Airbnb Annual revenue: €39,219
  • Gross rental yield: 12.37%

Takeaway

Considering the advantages that the rental market of Las Palmas offers, we can conclude that this city can certainly allow investors to obtain a good return on investment. There are plenty of neighborhoods and nearby cities in Las Palmas with promising opportunities, albeit it’s always important to analyze all options carefully.

Now that you have a deeper understanding of the best places to Airbnb in Las Palmas, you should think about long-term profitability! Ride your best wave in this investment journey by using Airbtics’ short-term rental calculator. Don’t be afraid of standing out among your competitors and use the best Airbnb analytics tool!

Explore The Most Profitable Airbnb Locations in Las Palmas de Gran Canaria

 

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