Why Is My Tenerife Apartment Valued Below the Others Advertised Online?

By Andy Ward, Tenerife Estate Agents

Sellers sometimes ask why I suggest an asking price below similar apartments they can see advertised in their complex. I understand the confusion. They can see clear prices on screen, while I am giving them a different figure and asking them to trust my judgement.

I can also understand the suspicion: does the agent want a quick sale at my expense? If I were in that position, I would want an explanation too.

The problem is that the figures on a listing and the price a buyer will pay are not the same kind of evidence.

What a long-unsold asking price tells us

I have seen comparable apartments advertised for over a year, in some cases more than 18 months, without selling. Those asking prices have been tested and have not produced a sale. They are evidence of what has not worked for those properties, not evidence of what yours will sell for.

That does not give us an exact value for your apartment. But it is a poor reason to set your price at the same level and expect a different result.

An advert also cannot tell me everything. Perhaps an owner turned down an offer, was difficult to arrange viewings with, or was in no hurry. I cannot know that from a listing. What I can say is that a price which has sat there for more than a year without a sale should be treated as a warning, not adopted as a valuation.

What I look for instead

I have access to official recorded selling prices from completed transactions, sourced from Spanish Land Registry records. I can review individual sales in your street or complex, including the recorded price, date and property size. I generally prioritise suitable comparisons from the last 12–24 months, alongside apartments I have sold myself.

There are always differences to consider. A better position, a larger terrace, the view or the condition inside may justify more. Equally, an apartment that needs work may justify less. If I have not inspected a property yet, any suggested asking price is provisional. I can explain how I would market it and what offers we might need to consider, but I cannot promise a final sale price over the telephone.

If a seller is uncertain, I can show them completed sales I can personally verify, including properties I have sold myself. They should be able to weigh real transactions against the advertised figures they found, rather than take my word for it.

Ask both agents for their evidence

When an estate agent suggests less than you expected, ask them to explain why. Which comparable apartments have sold? How similar were they? What buyer response have they seen? Ask the same questions of an agent who gives you a much higher figure.

That does not mean every sale will appear or that every apartment is comparable. Records can take time to become available, and they may not describe the terrace, views or refurbishment. If the evidence is limited, I explain that. My personal valuation process combines recorded selling prices with an assessment of the actual property.

It is your property and your decision where to price it. My job is to show you what supports that price, what contradicts it, and what we will watch once it goes on the market. A high asking price is easy to find online. An asking price that results in a sale takes considerably more thought.

Once you have a realistic selling range, use the selling costs calculator to compare what you could keep at different sale prices.

For the wider picture, read my Tenerife property prices guide. If you want to look at the evidence for your own apartment, request a personal valuation.