Problem of housing shortage and protection for homeowners
Vacation rentals in the Canary Islands, currently regulated by decree 113/2015, have faced legal challenges, being limited in terms of tourist areas and room rentals. Furthermore, the counselor points out that the content of the decree was insufficient, focusing mainly on housing requirements. This incorporated them into tourism regulation in the non-hotel modality.
Lack of planning and quantitative limitations
The existing decree lacked tourism, urban and territorial planning. It did not establish quantitative limits regarding the tourist use of homes originally intended for habitual residences. These legal loopholes have generated the need for a new regulatory framework, supported by all political forces in plenary.
Drafting process of the New Law
The Ministry of Tourism has organized a study commission that involves the seven councils, regional and municipal administrations, sector experts, representatives of universities and professional associations. This commission met in Gran Canaria to address the various aspects of tourist rentals and develop new legislation.
Exponential growth of vacation rentals
Vacation rentals have seen 10% growth in recent years, especially after the pandemic. In 2022, the Canary Islands had approximately 43,000 homes on the vacation rental market, which represents a total of 175,000 beds and constitutes 33% of the tourist offer of the Archipelago.
Regional statistics and local challenges
The Canary Islands is the second autonomous community in Spain with the largest number of properties intended for tourist rental, after the Balearic Islands. Some areas, such as La Oliva, Yaiza, Adeje, Hermigua, Puntagorda and San Bartolomé de Tirajana, face a high percentage of housing intended for tourist use, which poses specific challenges in each locality.
Furthermore, the General Plan of Pájara (Fuerteventura) has recently been modified, a pioneer in regulating the problem with holiday housing. The shortage of residential properties has become one of the most serious problems in Fuerteventura, and especially in the south of the island. This new modification does not make any consideration regarding existing homes, which may continue to operate. The regulation of vacation rentals in the Canary Islands seeks to balance the tourist offer with the housing shortage and protect the interests of small owners. With the commitment to draft a new law, the Canary Islands seeks to address the current challenges in this constantly growing sector.
For any questions or information, please do not hesitate to contact Fimax Asesores. Our guide on renting your property and complying with legal obligations is also available.
