Arrecife has the advantage that property, for both rental and purchase, is cheaper than other parts of the island, but it’s also much more densely populated. Shopping is excellent, and the choice of bars and restaurants fantastic.
The area around Charco San Ginés is the most sought after, and there are some excellent houses and apartments there. There are also some really nice apartments opposite the main beach Playa del Reducto, and also at Puerto Naos. As you move up the hill to Argana Baja and Argana Alta, there’s a lot of housing, but everything in those barrios feels pretty much on top of each other.