The Canary Islands are paradise for having rest and for relaxed living to the sound of waves. You can hear many stories about buying property in Costa Blanca, but the Canary Islands, and in particular Tenerife are still an undiscovered area for the Russians. Yekaterina Gukovich, sales director of real estate agency VYM Canarias, tells ee24.com what, where and at what price things are in this distant place of Spain.
– While property prices in Spain are falling, realtors from the most successful regions such as Catalonia, are already talking about a small price increase. Can we say the same with respect to the Canary Islands?
– The Canary Islands are absolutely a separate world, and it is difficult to compare it with mainland Spain. On the Canaries it is only spring and summer all year round, gorgeous weather, and due to this climate real estate is in great demand, especially in resort areas. And if in Spain there is a slight rise, the current growth in Tenerife is more noticeable.

Puerto de la Cruz, Tenerife
– Readers wonder what minimum budget it is necessary to have for purchasing real estate. How much is a small apartment on the Canary Islands?
– Most of cheap decent properties can be bought for around €60,000, and most likely, it will be a studio located not very close to the sea. Although for this amount you can find accommodation at the sea - a small studio in old buildings and resort complexes, which will need to be renovated and furnished. Such options are still available.
– Have the Russians become more knowledgeable in choosing housing in recent years, or do they still make requests from the category of "I'd like something better, cheaper and larger"?
– Customers from Russia come to the island already prepared and well-informed, they have certain budgets, and they understand what property in Tenerife they can purchase for this amount. They look for absolutely different options. There are many requests for cheap properties on the Canary Islands for about €100,000, a lot of requests in the average segment of €250,000-300,000, and, of course, there are customers with a budget of €1 million or more. Investment projects are particularly interesting, and we are focused on such cooperation.

Playa de las Americas, Tenerife
– Quite large amounts compared with the continent. And can they provide a mortgage?
– Mortgages in Spain and in particular on the Canary Islands are now available for the Russians. Usually loans are provided in case of 40% down payment, and you must also pay the costs of transaction registration.
– What foreigners buy property in Tenerife more often? Is common Spanish statistics reflected in terms of on the prevalence of the British, the French and the Russians?
– The Russians buy most of all among buyers from the countries of the former USSR, also there are a lot of transactions with people from the Baltic states. If we talk about Europe, among buyers there is a very high proportion of the Belgians, the Germans, the French, the Italians and the British. It is difficult to say about the prevalence of any nation, representatives of different countries buy properties, as well as the Spanish from the continent and local islanders themselves.

Santa Cruz de Tenerife, Tenerife
– Does it happen when the Russians do not want to meet their compatriots on the Canaries and ask to select a property "away from the Russians" or was it all left in the 1990s?
– Of course, it happens often. And sometimes they ask "away from the British." Sometimes it is stereotypes, sometimes someone has some reasons. Tenerife is a multiracial, multicultural place, the local population accepts everyone who comes and integrates into society. It is difficult to say that in some areas there are no Russians or other nationalities. Resorts on Tenerife are ranked not on national basis, but on social level, which is the direct consequence of the pricing policy.

Los Cristianos, Tenerife
– What are the most popular resorts?
– Foreigners usually prefer to buy property in the south of Tenerife, in resorts of Palm-Mar, Los Cristianos, Playa de las Americas, El Duque, Callao Salvaje. The reason is simple – these are places with the best climate.
Interview: Alexander Fetyukov, ee24.com