One of Spain's Canary Islands is Tenerife which is situated in the Atlantic Ocean off the northwest coast of Africa, and is accessible within 4-5 hours from most major European cities.
Tenerife belongs to the province of Santa Cruz de Tenerife and is famed for a year-round mild climate, the beautiful beaches, amazing volcanic landscapes which are dominated by Mount Teide, which is Spain's highest peak.
Tenerife is one of Europe's top tourist destinations, with 5 million plus visitors each year, generating a strong demand for holiday or vacation rentals, which then benefits property investors with good rental returns.
There are many places to find distressed or foreclosed properties in Tenerife, for examples you can ask a real estate agent to filter for foreclosures or bank-owned (REO) properties.
Investors can also refer to the local County Courthouse or Public Records and search for public notices of default, tax liens, and foreclosure sales.
Working with Property Agents or Realtors who specialize in distressed properties, foreclosures and short sales can be useful as well as keeping an eye out for expired listings or properties sitting too long on the market.
Drive around neighborhoods looking for vacant houses and you may find cheap distressed Tenerife property for sale with broken windows, or deferred maintenance and work with probate attorneys, property managers, and bankruptcy lawyers who they often know of distressed assets.
FEATURED Spain LISTING
Location : Orihuela, Alicante
Property Type: VillaProperty Terms: For SaleLocal Currency Price: Price in USD: $310,000
Tenerife generally has a very stable property market and purchasing or selling properties is done in a transparent manner. Tenerife is well-regulated, with strong legal protections for ownership, and relatively low political risk provides peace of mid to investors and private buyers looking for real estate opportunities.
In sought-after cities and tourist destinations, property values have shown consistent long-term growth-especially in areas with at times limited supply.
Real Estate Agents and Property Developers in Spain
