This week, Fernando Clavijo, President of the Canary Islands unveiled a new strategy concerning holiday rentals. The primary objective is to establish regulations that ensure the compatibility of this activity with affordable rental rates.
President Clavijo emphasized that housing is a matter of public supply, and efforts are being made to empower the private sector to construct properties while also facilitating access to the public company Visocan. Simultaneously, steps are being taken to regulate holiday rentals.
Clavijo underscored the high demand for this product but stressed the importance of regulating it. Additionally, efforts are underway to amend certain aspects of the Economic and Fiscal Regime (REF) to enable the use of the Canary Islands Investment Reserve (RIC) for rental purposes.