Property

Tenerife Properties

Tenerife is the largest of the seven main Canary Islands, and with about 800,000 inhabitants, has the highest population. The Capital is Santa Cruz in the north of the island, and for many years, Puerto de la Cruz, was the main tourist area. However since the seventies, the main area for tourists and for foreign citizens to buy property is in the South.

Property in Tenerife has always been an attractive proposition, but these days, offers more than ever before. Every conceivable type of property is available, from studio apartments to magnificent villas, in beach side locations or residential complexes or even on a golf course. Close to the main areas of night life, with restaurants, bars, clubs galore, yet only a couple of miles from the most beautiful scenery imaginable.

In the sun-drenched south, there is a choice from the traditional resorts of Los Cristianos and Las Americas or the new in-places of Fañabé, Costa Adeje, La Caleta, and Adeje Golf. The quality of the properties available is now at least equal to those in the UK, and costs can often be considerably lower than comparable properties in the UK.

Tenerife has one of the lowest temperature ranges in the world due to its sub-tropical climate. In the South, summer temperatures rarely exceed 28°C yet in winter daytime temperatures are around 20 - 22°C. This means that for tourists and residents, you can enjoy the sunshine all year round, and for buy-to-let investors, your property can be available 52 weeks of the year.

For those who would like to finance using mortgages, the rate is generally about 2% lower than the UK. This is because the rate is linked to “Eurobor” the central European rate, not the Bank of England rate. Banks here are friendly and helpful, and a decision in principal can usually be made in the bank during your visit.

For those with an eye for property investment, the Canary Islands are an integral part of Spain, one of the leading EC countries, so economic stability can be guaranteed. Property prices increase steadily by around 10% per annum, but do not suffer from the roller-coaster ride experienced from time to time by UK property investors.

All in all, Tenerife is a terrific place to be, whether you are an investor, would like to spend some time here, or would like to join the tens of thousands of British people in making this island your home.