Holiday apartments in the Canary Islands: record numbers cause rental frustration!

Holiday apartments in the Canary Islands: record numbers cause rental frustration!

The Canary Islands are experiencing a notable increase in holiday rentals. According to current reports, almost 50,000 holiday apartments will be registered on the islands as of May 2025. This corresponds to an increase of 6.4 percent compared to the same month last year Tenerife News reported. These figures come from the Canary Islands Institute of Statistics (ISTAC), which plans monthly statistics on the capacity, occupancy and profitability of holiday apartments.

In April 2023, more than 49,800 holiday apartments were counted, with the island of Tenerife having the largest share at 41 percent. Gran Canaria follows with 22 percent, Lanzarote with 16 percent and Fuerteventura with 13 percent. According to ISTAC, there were 207,968 vacation rental beds available in April, representing a 4 percent increase in the number of beds compared to the previous year.

Challenges for residents

The high demand for holiday apartments poses challenges for the Canary Islands. There is growing frustration among residents over rising rents and low incomes. Many see holiday apartments as one of the main causes of the lack of affordable housing for monthly rent. While 45,169 vacation rentals recorded at least one booking in April, the accommodations offered through digital platforms achieved an occupancy rate of 91 percent, indicating a continued high level of tourist influx.

The Canary Islands, consisting of Tenerife, Fuerteventura, Lanzarote, La Palma and Gran Canaria, are not only geologically part of Africa, but also an autonomous community of Spain. Its location off the northwest coast of Africa ensures a mild climate all year round, which attracts around 15 million tourist arrivals every year. Loud Statista The Canary Islands are the second most popular holiday destination in Spain, with Tenerife being the most popular island, ahead of Gran Canaria and Lanzarote.

Economic importance of tourism

Tourism spending in the Canary Islands amounted to 20.3 billion euros in 2023. This makes the Canary Islands the Spanish destination region with the second highest economic power in tourism, only behind Catalonia. The majority of tourists come from Germany, followed by travelers from the United Kingdom. Additionally, vacationers in holiday apartments or houses enjoy a longer stay compared to hotel guests, with an average stay of 3.4 days.

Fuerteventura is known for its long sandy beaches and offers numerous water sports opportunities, while the scenic regions of Tenerife, Lanzarote, La Palma and Gran Canaria are very popular with hikers. The carnival in Santa Cruz on Tenerife in particular attracts thousands of visitors every year and enriches the cultural diversity of the islands.