# Advice Required Please for buying in Gran Canaria



## kiksi (Sep 28, 2010)

Hi there,

As a quick introduction, I am married with three grown up kids and I am looking to buy an investment property in Gran Canaria. I have earmarked some places to view when I visit but my main concerns are:

a) locating a good management company as I intend to rent it out to holidaymakers
b) approx rental returns expected on a 1 bedroom, beach facing property 

I have never bought a property for let overseas and so I feel very green and so any tips to avoid pitfalls would be really, very welcome.

Many thanks.

Regards
Kiki


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## kiksi (Sep 28, 2010)

I would also like to say that I am from the UK originally, but I am currently living in Switzerland.


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## 90199 (Mar 21, 2010)

Hello Kiksi,

I live on the island of El Hierro, Canary Islands. I know the island of Gran Canaria pretty well.

I would visit first to access the situation. Tourism in the Canary islands is at the moment is very low, many hotels and apartment complexes are struggling, I have a friend on Gran Canaria who has worked in the tourist trade for many years, he like many others is out of work. You may struggle to rent your property.

However the property market too, is on an all time low, therefore it is a buyers market, especially if it is a none loan purchase.

Use a reputable Estate Agent, You will need to make sure that your intended purchase is legal, the vendors are the owners, and for this you will need a reputable lawyer of your own choosing, who can speak English. Do not use the same lawyer as the estate agent.

Regarding letting agencies, I cannot help, but there are many others on this forum.

Like I said I know well the island of Gran Canaria, if you have any questions, fire them at me,by PM

Hepa


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## kiksi (Sep 28, 2010)

Thanks, Hepa, kind of you to reply. Yes, I think the tourist trade has diminished everywhere. Hopefully, it will pick up soon. 

Any other tips would be greatly appreciated. Thank you.

Kiki x


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## 90199 (Mar 21, 2010)

I recall talking to a student friend of mine who is pricing rentals in the capital Las Palmas de Gran Canaria, where she is at University. She told me that rentals are about 400 to 500€ per month inclusive.

However if you are thinking of the south of Gran Canaria, you would ask 400 to 500€ weekly for a 1 bedroom apartment, try this link Playa Del Ingles holiday villa rental with shared pool, golf, walking, beach/lake nearby, disabled access, balcony/terrace, air con, rural retreat, TV, DVD

Hepa


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