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.
The investor, or owner, rents out the property to tenants directly or through a management company for short or long-term periods. In return the investor earns regular rental payments, which can be from residential rentals, such as houses, condos or apartments, or from commercial rentals which can be offices or retail spaces.
As the property increases in value over time, often used in growing markets (albeit there can be periods of decline) but overall property values do increase, and can then be sold at a profit.
Investors may be able to deduct expenses such as mortgage interest, property taxes, insurance, and depreciation adding to the value of ownership.
If looking for the best investments in luxury properties in Tenerife, investors can choose from a wide range of different types of investments in Tenerife, from residential homes, condos, duplexes, or apartments, to commercial offices, retail stores, or industrial buildings leased to businesses.
Also there are mixed-use properties combining residential and commercial elements as an option, plus land, with or without planning permission, that can be developed on or sold again for future real estate development.
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
