Why It Could Be the Right Time for a Holiday Home in Tenerife

Tenerife is the biggest of the Canary Islands and the most populous of all the Spanish islands. It is also one of Spain’s premier tourist destinations. Stunning beaches, Spain’s famous warm climate and breathtaking scenery make Tenerife into an absolutely wonderful place for a getaway.

Why It Could Be the Right Time for a Holiday Home in Tenerife

Image Credit

For this reason, Tenerife has long been a popular place to own a second home or, more affordably, a timeshare. There are several reasons why this could possibly be the best time to acquire one and start taking regular holidays in Tenerife.

Prices Are Low

At first glance, Spain’s property market looks less than healthy. Spain was hit hard by the financial crisis, and for the past seven years or more property prices across the country and its islands have been falling. For those who are mainly looking for an opportunity to get away and enjoy all Tenerife has to offer, rather than a profit-making investment, this could be seen as a good thing rather than a bad one.

A long period of price drops has left properties very cheap – at roughly the prices seen in 2003 – and as well as property purchase prices this is reflected in some bargain property investment ventures. Indeed, these could be well suited to the situation, as they benefit from low prices while giving you far less exposure to the overall property market. Now price falls are slowing and prime markets are showing signs of recovery, meaning that more speculative types are snapping up properties before prices rise again. As a prime popular market Tenerife could be one of the first parts of Spain to benefit.

The Pound Is Strong

Low prices in Spain are very much compounded for British buyers by the fact that the pound is currently very strong against the euro. This means that when somebody comes to selling in Spain to a UK buyer, the UK buyer may benefit from effectively cheaper prices because their money goes further after conversion to euros. Of course, this depends in large part on whether the seller is also British, but this impacts the pound value of a given Spanish property in general so could still prove an advantage.  Making the most of your money when looking into investment opportunities is key, why not consult an outfit like Robert Stones at Target Markets to find out more.

Tenerife Is Wonderful

Of course, all this only applies if you actually want to visit Tenerife, and do so regularly. Fortunately, there are many compelling reasons why you should want to do so, and few if any arguments to the contrary. Spain – mainland and islands alike – is a county famous for its delightful sandy beaches, its warm Mediterranean waters and its great scenery. In a whole county that is world-renowned for these things, Tenerife still manages to stand out on all three counts. It is truly one of the best beach holiday destinations in Spain, Europe and perhaps even the world.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.