The Canary Islands ended October with a significant increase in registered holiday rental properties, adding 47,976 new ones compared to the same month in 2023. This surge represents a 12% growth year-over-year, according to the latest data released by the Canary Islands Institute of Statistics (Istac).
Leading the increase, Tenerife accounts for the majority of the new holiday rental properties, with 41% of the total additions. Gran Canaria follows with 21%, while Lanzarote and Fuerteventura contribute 16.7% and 13.8% respectively. This distribution highlights the attraction of Tenerife for both property investors and holidaymakers alike.
Increase of Tourist Accommodation Available
Overall, the archipelago now boasts a total of 202,500 registered holiday let beds, marking a 9% increase from October 2023. Over the past year, the number of available accommodations has grown by 15%, highlighting the sustained demand for short-term rentals in the Canary Islands.
This upward trend reflects the islands' enduring popularity as a prime holiday destination, catering to a wide range of tourists seeking diverse accommodation options.
High Demand and Occupancy Rates
October saw an impressive 94.68% occupancy rate, with 45,424 properties receiving at least one booking through digital platforms. This high level of occupancy indicates robust demand for holiday lets, reinforcing the Canary Islands' status as a top choice for travellers.
The strong performance in bookings highlights the effectiveness of online platforms in connecting property owners with potential guests, facilitating seamless reservations and enhancing the overall tourism experience.
The upward trajectory in holiday rental properties indicates a promising future for the Canary Islands as a preferred destination for short-term stays, but, as the market evolves, maintaining high standards of service and infrastructure will be essential to accommodate the growing number of tourists while preserving the unique charm that makes the Canary Islands a beloved getaway.
