Tuesday, November 10, 2009

The South Tenerife is the most expensive for property

The average price of a home in Tenerife is continuing to rise, new figures have shown, although there is price drops in some areas which could be of interest to those who own Spain property or are considering investing in the country.

According to Jayne Nuttall, from the Travel Counsellors, Spanish property visitors who love to jet off to catch some winter sun could be interested to learn that the island has a "super" all-year-round climate.

Commenting on which areas of the island Brits often head to, Ms Nuttall said: "Costa Adeje is the recently developed upmarket area and some of the most exclusive property is located. The region is a quieter resort chosen by many 5 star hotels to invest in. Playa de las Americas is the largest resort in south Tenerife. It was purpose filled holiday destination with wide range of bars, restaurants, beaches, nightlife and property. Tenerife also has a wide range of properties suitable for all budgets."

Meanwhile, in good news for first time buyers, Value It Espana SL, the Santa Ursula, Santa Cruz de Tenerife, based publisher of The Tenerife Property Price Guide revealed average property costs for each of the regions of Tenerife, and the island as a whole. There is fall in property prices for the three regions of Tenerife, (South East, the North, and the Metropolitan region). Property prices have fallen by 3 .48% in the South and South East still it is most expensive at 2185 euros per square meter. In the North, prices have fallen the least, by 2.64%, and in the Metropolitan region (Santa Cruz, La Laguna, El Rosario and Tegueste) prices have fallen by 3.27%.

John Gardner of Value It commented: "The answer for foreign investors looking to buy in Tenerife is thorough research and knowing the pricing trends in the areas and for the property types".