Thanks to its tropical climate, Tenerife is one of the few places belonging to Europe where you can enjoy warm weather regardless the season of the year.
In addition, the cost of living in Tenerife appears to be lower than in many touristic places in Spain, being therefore an excellent opportunity to relax and enjoy a laid back life without financial worries.
Who Invests In Tenerife?
According to a report by Lupain Properties, a Los Cristianos estate agents, British, Belgian and Italian are among the biggest investors. Back in the time when Russia had a booming economy, there were also many Russian buyers who opened restaurants and hospitality businesses aimed at catering for the Russian community.
Victor of Lupain Properties says that it is currently difficult to evaluate the impact of Brexit.
How much does a property in Tenerife cost?
As happens across the whole Spain, the price of real etate properties is also increasing in Tenerife.
In 2016, the average price per square meter was 1.200€, except for the capital, Santa Cruz de Tenerife, where the price per square meter almost reached 1.400€.
These prices are low in comparison with Spain’s national average.
For 2017, specialists estimate that the market will continue to grow but at a much slower rate than Madrid or Barcelona.
Where do foreigners buy?
According to Victor, after the crisis, a great portion of foreign investment has been directed towards the south part of the island.
Nonetheless, it’s worth mentioning here that many investors are still reluctant to investing in this area, the most touristic part of Tenerife. They prefer the more peaceful countryside, where locals live.
What are the most desirable areas?
Although this is a small island in comparison with other islands, Tenerife is home to a wide variety of landscapes, and is therefore able to suit all preferences in terms of temperature and geology.
Those who enjoy living their life by the beach all year round would prefer the south area, with Los Cristianos and also Las Americas being their first options. As mentioned before, this is the largest touristic area of the island.
If you don’t enjoy warm weather but you still would like to be close to the sea, you may prefer Puerto de la Cruz, in the north of the island. This region has a temperate climate which suits best those people who enjoy less heat and more moderate days. The Teide volcano with its more than 3.700 meters acts like a magnet for clouds, so most days can be overcast and a bit cloudy.
Those who prefer living in a city with hospitals, shopping malls and other such facilities may prefer the capital, Santa Cruz de Tenerife. The island is relatively small, so you can reach the beach from here in less than one hour of driving. This is how the residents of this city can have the best of both worlds. They benefit from the convenience of living in a big and well organised city, while also being very close to nature.
Last but not least, the university city of Tenerife, San Cristobal de la Laguna has a very pleasant climate even during the times when other parts of the island are very hot. Conveniently located at a few kilometres from Santa Cruz, this is a good option for those who want to have access to the facilities offered by the capital city of the island without having to put up with living in a crowded or noisy area. San Cristobal de la Laguna is an enjoyable place, full of life and surrounded by beautiful landscapes.
Excellent connections with Europe and Spain
Like any other island, Tenerife is reachable by either ferry or plane. There are two airports, one in the North of the island and the second one in the South with good connections to all major cities in Spain and Europe.
The main highway of the island connects the North with the South. Together with the other main roads, it makes anywhere on the island accessible within a maximum of three hours by car.
To find out more information, get in touch with Lupain and they’ll be able to help you with your property investment.