A Great Time To Invest

27th of February, 2012 Bookmark and Share
The actual end of year figures register 5,164,978 tourists to Tenerife* which is an increase of 6.9 per cent on the previous year, and they are have spent 7.5% more than they spent in 2010.

Tourism to Tenerife increased
British tourism to Tenerife increased by 14.8% and there were also significant increases in visitors from Germany, France, Russia, Italy and Scandinavia. The South of Tenerife was the most popular destination with 4,159,808 choosing to stay there, and which represents an increase of 8.4% on the previous year. Joint promotional activities planned with these countries will almost certainly continue the growth and this is the reason why investment in property in Tenerife is now such a good option.

Buy to Let Investments
Properties on the buy to let market which hold a touristic license are in high demand, and with prices being at an all time low, now is the time to find a bargain property which will yield the highest guaranteed rental return yields, as the supply of stock within this sector is relatively small, and prospective investors are looking for legal rentals in properties which are located in areas in the south of the island, particularly in Los Cristianos and Playa de Las Americas. Self-catering accommodation in good quality complexes is highly sought after, and finding the right property at the right price, with all the necessary legal paperwork in place, is not an easy task. Tenerife Property Investment can help and assist in finding a property which, not only represents an investment, but also fulfills all the criteria required to achieve the best possible rental returns, and this is extremely important as nowadays, it is vital to find a buy to let property which holds a tourism license. Failure to fulfill this legal requirement can result in some hefty fines for the owner of the property and therefore finding a property which holds the correct license is essential – and this function is all part of Tenerife Property Investment´s advice service.
It is well worth noting that the increase in tourism to Tenerife highlights the value of owning property on an island with year-round tourism and being the largest of the Canary Islands, Tenerife offers an ever-expanding infrastructure which supports and encourages growth within tourism. For this reason, investment in property in Tenerife, at this point in time, makes sound financial sense as the price of properties which are legally allowed to be rented out as holiday lets, is set to rise. In all things where there is a scarcity, prices are forced upwards and property is no exception. For this reason the rise in tourism to Tenerife heralds the dawn of property investment opportunities at a point where prices are low and demand is high and increasing month by month. In areas of high demand there are few complexes which can be legally rented out for short term lets and this will surely herald an increase in property prices which is excellent news for the prospective investor.

Ricardo Melchior, Cabildo de Tenerife

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Source: Tenerife Property Investment
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Edward Wilkinson
Eddy Wilkinson has more than 30 years of experience working within the property market, during which time he has studied property trends and investment in many countries throughout Europe and also in the USA. He has written many articles on this subject and specializes in the Spanish property market where he has given talks and advice to many people seeking to invest in the luxury second home sector.