Buying Property in Tenerife has many advantages over mainland Spain.
The biggest advantage is the rental income that Tenerife Properties are able to generate. Rather than having a short peak-rental period, property in Tenerife can be rented out and is in demand all year round with the busiest month of the year being December.
There is a healthy and mature market for “swallows” people who wish to come over to Tenerife and rent a property for 3 or 4 months between October and March.
Year round rental income from an apartment or villa in Tenerife can significantly offset Spanish Mortgage payments on a property making property purchase much cheaper.
The range of properties in Tenerife is vast, from small apartments in old Spanish towns, to penthouse apartments on upmarket complexes to luxury villas.
If you are looking for solid rental income, seek out the slightly older complexes in Los Cristianos and Playa de Las Americas and ensure they have a touristic license for renting to the general public rather than a residential license. Residential properties are let out on a weekly basis and many make their owners a decent income but you run the risk of falling foul of the touristic letting laws and the fines can be very steep. Expect to pay from 100,000 – 150,000 Euros upwards for a 1 bedroom apartment on a well maintained complex generating 40 plus weeks per year rental income.
Whilst these types of properties can be difficult to find, they are well worth holding out for and acquiring, as the demand for them shows. Ensure you are getting the best value for money by checking what is available on the complex. For renting out, apartments which take a lot of sun on the main terrace will be easier to fill than those that don´t – especially through the Winter months.
If you would like to register to be notified when such a property becomes available let us know and we can contact our extensive database of Tenerife Estate Agents on your behalf and notify you as soon as what you are looking for becomes available.
This will give you the best possible chance of purchasing a great rental property which you can use yourself for your own holidays.
We own TenerifeMortgageBroker.com as well as several other mortgage websites that cover the whole of Spain. As such our experience of Spanish mortgages is vast and we are able to offer up to 70% finance for these types of apartments by way of a Spanish Mortgage.
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Or here for property with special mortgage conditions of up to 100%. Distressed and repossessed Tenerife property