Norwegian Newspaper Canariavisen Interviews Carolina Garcia About What Norwegians Seek When Buying Property on Gran Canaria

Carolina Garcia Chagrin, director at Cardenas Real Estate, was recently interviewed by Canariavisen to discuss what Norwegians are seeking when purchasing property on Gran Canaria. The original article can be found here.

Gran Canaria continues to be a top destination for Norwegians looking for their dream home in the sun. But what exactly are they looking for when buying property on this popular island?

High Standards, Sea Views, and Sunlight

Norwegian buyers have clear preferences, according to Carolina Garcia. They are mainly looking for modern homes with high standards, sea views, and sunny outdoor spaces. Terraces and patios that allow homeowners to enjoy Gran Canaria’s year-round warm weather are particularly desirable.

However, these types of properties are limited in the current market, meaning buyers should be prepared for higher prices, especially for homes with premium features.

Increased Demand and Rising Prices

The real estate market in the south of Gran Canaria has seen significant growth in recent years. Following the pandemic, there has been a surge in demand while supply remains steady, leading to price increases of 7-10% over the past year.

It’s not just Norwegians competing for their ideal property. Demand from other European buyers—especially from the UK, Germany, and Italy—has risen sharply, while Norwegian buyers have remained steady due to the current exchange rate and rising costs, which may impact their purchasing power.

New Regulations Impacting the Market

For those interested in buying property to rent out to tourists, it’s important to consider the upcoming changes in holiday rental laws. The Canary Islands government is implementing new regulations to limit the number of holiday homes, which could affect future rental opportunities.

Mrs. Chagrin advises that property purchases should now be made primarily for personal use, as the rental market may face stricter regulations.

A Word of Advice for Buyers

If you’re looking to buy a home in Gran Canaria, especially in the south, the experienced brokerage manager offers some key advice. First, work with an experienced real estate agent or lawyer who knows the local market well. Second, be sure to thoroughly review the new regulations if you plan to rent out your property to help cover costs.

Feel free to contact Cardenas Real Estate if you are searching for a property on the south of Gran Canaria. We are here to help you find the perfect home!