What Makes Tenerife Property Such a Good investment?
These days more and more people in Western Europe, particularly in Britain, are looking to invest in overseas property. On first glance it would seem that the number of potential locations in which to find the ideal holiday home or apartment in which to retire in the sun are endless.
The exotic Caribbean Islands are tempting of course, as is the U.S. sunshine state of Florida. Central Europe (including France and mainland Spain) have strong communities of UK expatriates and Eastern Europe with its new found republics popping up everywhere is a interesting possibility.
So why, with all these wonderful choices do we still consider Tenerife to be the best option for those seeking to invest in property abroad?
Weather – Ask 10 UK expatriates why they chose to live abroad and 9 of them will tell you that they wanted to escape the cold British winter and generally wet and disappointing British summer too. All the more reason then to decide on your new location after comparing the year round climate of each potential area. Extremes of temperature afflict many of the countries listed above – uncomfortable levels of humidity, tropical storms and endless dull and dreary days while you wait to be blessed with a fabulous few months of summer sun.
By contrast, the weather in Tenerife is just about the best in the world. Warm summer days, with average daytime temperatures around 28ºC (82ºF) and gentle short winters, lasting only 3 or 4 months, where daytime temperatures rarely fall below 23ºC (73ºF). No hurricanes, no earthquakes, no unbearably high summer temperatures and no high humidity!
Investment Value – The UK experiences cycles of fluctuating property prices which could mean that you might buy a property now, and find it is worth less in one year’s time! Tenerife on the other hand, has no wild increases in property price, but moves forward at an average rate of around 10% growth year on year.
Traveling time – another area of concern to most people wanting to live ‘in the Sun’. Clearly buying property in the US or the Caribbean entails long flights, often with stopovers, then you have to get from the airport to your property. But even the apparently gentle 2 or 3 hour flight to Spain can soon become double or triple that with traveling time to and from airports. And no one needs reminding about the traffic in the UK where a Friday night jaunt from the Midlands to the South coast can easily take 5 or 6 hours!
In comparison, you can fly from virtually any airport in the UK to Tenerife’s modern International airport in 4 hours, where the main areas of the south are a mere 10 or 15 minutes’ drive along a modern motorway.
Language – In the past, Language has been a barrier to people wishing to improve their lives. Living in a gentler, warmer environment, and even in France and many parts of Central Europe, a significant knowledge of the local tongue is essential.
Here in Tenerife, although Spanish is of course the official language, English is spoken extensively, and in the South is at least as prevalent as Spanish.
Security is an issue that is often raised by people thinking of buying property and should be considered very carefully. In those Eastern republics, the mystical charm can soon evaporate when one realizes that the rule of law is observed in an altogether different way from in the UK. Even in the southern states of America, near to Miami, where some people have chosen to live or invest, there are many no-go areas.
Compare this to Tenerife, where the law is observed in a modern, civilized manner. Of course nobody would suggest that Tenerife is crime free, but it is deterred by an aggressive Guardia Civil and Policia Locale, and car crime, house thefts and common street crime are significantly below the levels of most British towns.
All in all, Tenerife stands head and shoulders above all other options for purchasing second homes – great weather, sound investment, easy to get to, and a secure environment for families. Not to mention beautiful beaches, fabulous mountain ranges, and cosmopolitan cities.
The island has numerous micro-climates and traveling from place to place one can see such diversity, the green lush North, through pine forests to El Pico del Teide (over 12,000ft and snow-covered in winter), to the sun drenched south.
Ten championship golf courses with more planned, superb sea diving opportunities, windsurfing, yachting and so on. Living costs are low, fuel is less than 50% of UK prices, cigarettes 25%, eating out is about half the price and council rates a fraction of what you would expect in the UK.
Easy links to the other Canary Islands by fast modern ferry can mean you could leave Los Cristianos in the South and be walking on the magnificent island of La Gomera 35 minutes later.
Tenerife’s 217 miles of coastline encompass, arguably, the most beautiful, unspoilt island in the world. Many thousands of British people have moved to this paradise, and each year the number is growing, so if you’re thinking of buying…then look no further than Tenerife!
Thanks to The Tenerife Property Guide for this article which provides some interesting points on what it is that makes Tenerife such an excellent place in which to invest in property.
The Tenerife Property Guide is a monthly publication of property for sale listings gathered from the premier estate agents in the South of the island. It also carries regular advisory articles and makes excellent reading for those considering buying property on the island.