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Demand for holiday home rentals in the Canaries on the up again 

The demand for holiday home rentals in the Canary Islands appears to be booming once again as more and more people choose this type of accommodation for their stay.

The number of tourists who chose this sector for their vacation in 2016 amounted to 1,290,609, 8.61 per cent of the total.

Details of the latest supply and demand report were given by Minister of Tourism for the Canary Government, Mariate Lorenzo during a meeting of the Canary Tourism Council.

“This report is an essential tool when it comes to reflecting on this segment of tourism and making decisions, both political and business, for the future of vacation rental in the archipelago,” he said.

This study shows that the demand for holiday homes in the Canary Islands in 2016 amounted to 1,290,609 tourists, which represents 8.61 per cent of the 14,981,113 tourists who visited the islands.

The market share is down one point from the ten per cent it represented in 2010. However, as reflected in the study, from 2015 to 2016 there has been a 24.83 per cent increase in demand for holiday rentals, from 1,033 .917 tourists, in 2015, to 1,290,609 tourists in 2016.

The study quantifies that in the Canaries, in the course of 2016, a total of 29,931 holiday homes could be counted, 1,743 more than in 2015. These groups include 129,685 beds, 7,838 beds more than the year 2015. Total accommodation In the Canaries is estimated at 553,416 beds.

The total number of holiday homes represents 23.43 per cent of the total offer.

According to the report, Tenerife is the island with the most beds of holiday homes, with a total of 49,791 and 11,549 homes, which represents 38.39 per cent of the Canary Islands’ total offer.

Gran Canaria, on the other hand, with 24,792 beds, 6,084 homes and 19.12 per cent of the Canary Islands offer, is the one with the lowest percentage of the island’s total housing offer at 15.30 per cent while La Palma becomes the island with the highest percentage of holiday homes concentrated in relation to the total of its offer: 35.80 per cent.

Regarding the channel or digital platforms for which the holiday home is marketed, this new study reveals that 57 per cent of the market share is concentrated by two platforms: Airbnb and Homeaway (Expedia).