Real estate and business in Canary Islands (Tenerife) News | Real estate and business in Spain, Canary Islands (Tenerife)


Spain is a paradise on earth, enchanting with its incredible nature, fairy-tale architecture dating back from the Middle Ages and beyond, rich cultural heritage, colorful traditions and of course, the friendliness and hospitality of local people. Spain is characterized by a great variety of all types of recreation: beach-sea, mountain, cultural. A combination of these factors led the country to an impressive third place, after the United States and France, as the world’s most popular tourist destination. Some astute investers purchase apartments and villas for personal use; while for others, the primary motivation will be to receive additional income from the rental of real estate to vacationers.
Currently, experts on foreign real estate are constantly monitoring prices for housing in Spain, especially in regions that are in high demand, such as the Canary Islands.
According to many experts in 2017-2018, forecasts of prices for the Spanish resort property are directed upwards. This is confirmed by an increase in the number of real estate transactions in 2015 and 2016. In the first six months of 2016, the return on investment in Spanish real estate was 6.1%, which is higher than 5.5%, which was recorded in 2015. So, active buyers of residential real estate in Tenerife are not only foreigners, but also the local population. Experts of the Professional Association of Real Estate Experts (APEI) assured that prices for secondary real estate in Spain will no longer decline. According to them, the cost of Spanish housing, after passing a short period of stability, will begin to grow, especially in regions where the supply is limited due to the low rate of construction. The chairman of APEI, notes that now is the most successful time for buying an apartment or a house in Spain.
The most profitable for investment are commercial premises, with the purchase of which you can count on profitability at the level of 7.7%. In addition, from 4.5% to 5.6% increased profitability of garage space. The main foreign buyers of Spanish holiday homes are the British with a share of transactions of 17%. Then come the investors from France, Germany, Belgium. For example, here in some resorts the share of transactions for the purchase of real estate by foreigners is 40%, while the average for Spain is 12%. The average price per square meter in Adeje is ?? Euro. On average, when renting real estate in 2017, you can multiply your capital by ?? % Per annum.
Obviously, the island of Tenerife attracts buyers of housing not only with its sights and comfortable services, but also with a developed real estate market with the potential for growth, and an accomodating state policy in obtaining a residence permit. Many factors indicate that now is the time to invest in Spanish property!
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