The Canary Islands have witnessed a huge rise in holiday rental properties since the pandemic, with 10,000 more registered compared to 2019. This increase reflects a broader trend in the region's accommodation market, driven by growing demand and changing tourism dynamics.
According to the ISTAC, the Canary Islands Institute of Statistics, holiday rentals have become the prominent accommodation choice for tourists and locals taking a break in the islands.
As of May 2024, the region had 44,613 registered holiday rental properties, a substantial increase from the 35,611 units in May 2019. This increase has corresponded with a significant rise in declared revenue, with income climbing from €33.4 million in May 2019 to €64.5 million in May 2024.
Number of Properties: The number of available holiday rental properties has risen from 35,611 in May 2019 to 44,613 in May 2024.
Revenue Growth: Revenue from holiday rentals has surged from €33.4 million in May 2019 to €64.5 million in May 2024.
Occupancy Rates: In May 2024, data showed that 38,913 of the 44,613 holiday rental properties were booked, with an average stay of 4.05 days.
Increased Availability: The total number of available accommodation beds has increased by 190,000 compared to the previous year, a 7.3% rise.
Revenue from holiday home rentals showed notable fluctuations throughout 2024. The highest figures were recorded in February, exceeding €105 million, compared to just under €40 million in February 2019. However, by March and April, the figures declined, with revenues falling to just over €99 million in March and approximately €76 million in April.
In May, Tenerife had 18,140 holiday rentals available, compared to 9,536 in Gran Canaria, which generated over €25 million in revenue. Arona alone had 4,231 holiday rental properties, more than the islands of La Palma, El Hierro, or La Gomera. Despite this, Adeje surpassed Arona in revenue, with more than €7.6 million.
