The report released by the Las Palmas College of Economists provides a comprehensive analysis of the holiday rental market in the Canary Islands, shedding light on various aspects of its distribution and impact on the region’s housing landscape.
Firstly, the report highlights that a significant majority of holiday homes, amounting to 63.8%, are concentrated in 13 tourist municipalities and Las Palmas de Gran Canaria. This concentration underscores the substantial role that vacation rentals play in these areas, with Las Palmas de Gran Canaria alone contributing a minimum of 2.2% of its housing stock to holiday accommodations. Such concentration indicates a considerable shift in housing usage patterns and emphasizes the importance of understanding the dynamics of the tourism sector.
Delving deeper into the distribution of holiday homes within tourist municipalities, the report reveals that a staggering 83.4% of these accommodations, totaling 20,289 out of 24,331, are situated in micro-destinations. These micro-destinations, characterized by their appeal to tourists seeking unique and authentic experiences, are increasingly popular among visitors. Moreover, the prevalence of flats and villas, constituting 80.2% of the holiday homes, suggests a preference for self-contained accommodations with ample amenities.
The report’s coordinator, Rosa Rodríguez Díaz, underscores the importance of analyzing the available data rigorously to inform strategic decision-making. However, she acknowledges the potential biases in the existing data, emphasizing the need for further analysis to glean accurate insights into the evolving tourism landscape.
Examining the composition of holiday homes, the report finds that over half, specifically 51.7%, are located in flats, while the remaining 48.3% are distributed across other types of accommodations within tourist municipalities. Notably, a significant portion of extra-hotel units, comprising 11,743 properties, have disappeared without a trace, raising concerns about compliance with regulations and oversight by authorities.
TENERIFE LEADS IN THE EXCESS OF TRAVEL RENTAL SUPPLY
Furthermore, the report highlights the decline in traditional accommodation options, such as hotels and non-hotel establishments, over the past 14 years. Despite this decline, tourism in the Canary Islands has experienced robust growth, with Tenerife emerging as a frontrunner in attracting visitors. However, the proposed moratorium on holiday home supply is questioned in light of these growth trends, prompting calls for a reevaluation of policy priorities towards sustainable tourism development.
In conclusion, the Las Palmas College of Economists advocates for evidence-based policymaking and urges the government to focus on strategies that foster balanced tourism growth across all islands. By promoting sustainable development and addressing the evolving needs of tourists, the Canary Islands can position themselves as a leading destination while preserving their natural and cultural heritage.
