The tropical climate of Tenerife makes it ideal for those who would like warm weather all year round while still living within the confines of Europe. The island is less expensive than most tourist destinations in continental Spain with lower real estate prices compared to the national average, which makes it an excellent investment opportunity for property buyers.
As is the case in almost every corner of Spain, the prices of apartments and houses are also increasing in Tenerife. The average price per square metre was around €1,200 in 2016, with properties in Santa Cruz de Tenerife, the capital of the island, fetching almost €1,400 per square metre. The market is expected to grow steadily throughout 2017, although at a slower pace than Madrid or Barcelona.
Which Areas in Tenerife Are Most Sought After?
Although the island is small compared with Sardinia or Cyprus, Tenerife has a wide variety of landscapes with average temperatures of 18 degrees Celsius and higher, even in winter. The main tourist areas are Las Américas and Los Cristianos on the South of the island. For beach lovers who want to enjoy warm days and sunny weather all year round, the southern areas will be ideal.
There is an established Los Cristianos estate agent in the south who can give you all the advice you need to make the right choice when purchasing a Tenerife property either as a home, or as an investment.
If you don’t mind cooler weather but would still like to live right next to the sea, the north of Tenerife has a more temperate climate compared to the south. At Puerto de la Cruz most days are cloudy due to its close proximity to the 3,700 metre Teide volcano, the highest mountain in Spain.
San Cristóbal de la Laguna, known as the university city of Tenerife, has a very mild mountain climate that can be very pleasant when most other places on the island become very hot. It is situated just a few kilometres from Santa Cruz if you need something that can only be found in the capital city.
For city lovers, the best option is Santa Cruz de Tenerife where all the basic facilities such as big shopping malls and hospitals can be found. Due to the small size of the island, the beach can be reached easily by car within an hour. The highway connects the South with the North and other main routes make it easy to reach any place on the island by car in less than three hours.
Easy Access to Spain and the Rest of Europe
The island is reachable only by plane or ferry and has two airports in the North and South with connections to all major cities in Europe.
British, Italians, and Belgians are the top investors although the British top the list, as in other parts of Spain. There was also a considerable interest by Russian investors during the economic boom in their country and as a result, there are quite a few restaurants and shops promoting Russian food and goods in their language.
Tenerife offers the prospective home buyer more than any other location in Europe and in recent years, better returns have rarely been found elsewhere in Europe. Property prices have increased comfortably for homeowners in Tenerife making it an extremely attractive destination for anyone from the UK looking to relocate to a warmer climate while staying within the borders of Europe.
There are several well established estate agents in Tenerife to choose from and Lupain is the one we recommend. They’ll be able to guide you through the process and the language barrier if you’re not Spanish speaking.