Is it worth buying a house in Tenerife?

Is it worth buying a house in Tenerife? It is a very good place to buy property whether it be for investment purposes, a second home or even your primary residence in the sun. Otherwise known as the land of eternal spring due to the fantastic weather which very rarely drops below 20º C in the winter months.

What bills do you pay in Tenerife?

What is worth buying in Tenerife?

What souvenirs to buy in Tenerife. Besides the usual key rings, badges, fridge magnets, dolls dressed in traditional costume and beach towels printed with the map of Tenerife, the island also boasts quality products that can also make perfect souvenirs.

What is the downside of living in Tenerife?

It also rains very rarely and not too much. However, there is a big disadvantage of the weather in Tenerife, known as ”CALIMA”. It's the hot wind from Sahara which brings dust and sand, and it can happen anytime. This is the main reason why you'll not be able to see as far as usually.

Can Brits still move to Tenerife?

Since 1^st January 2021, the UK is now considered as a “third country”. Any British citizen who wants to emigrate to Spain (or stay for longer than three months in the country) will need to apply for a visado nacionale (long-term visa). This includes those who have a second home in Spain, but no form of residency.

Is Tenerife a tax haven?

The Canary Islands are thus a tax haven, fully legal in terms of tax advantages, mainly for the so called ZEC, a norm providing great exemptions for those who wish to open an offshore company, according to law requirements.

Where is the cheapest place to buy in Spain 2023?

Some popular regions for budget-friendly property include Andalusia, Murcia, and Castile-La Mancha, amongst others. In these areas, you can find houses and apartments for sale at prices that are significantly lower than in more expensive areas such as Madrid, Barcelona or the Balearic Islands.

What is the posh part of Tenerife?

Puerto de la Cruz – poshest part of Tenerife Puerta de la Cruz is the beautifully lush, green, and posh part of Tenerife. It is also the second biggest town and located on the north of the island, about an hour drive from Costa Adeje and the South Airport (North Airport is more convenient, if you can – 20 min by car).

Where do most expats live in Tenerife?

Where do most expats live in Tenerife? Playa De Los Cristianos – this beachside resort in southern Tenerife is popular with holidaymakers and expats, especially British families who are drawn to the excellent climate and wide beach. Costa de Adeje, where to stay in Tenerife for your first time. ...

Is buying property in Tenerife a good investment?

Real estate company Tecnocasa's report Analysis of the housing market in the Canary Islands confirms that it's a good moment for real estate investment in this part of the world. The report states that in in terms of buying property in Tenerife, commercial operations rose to 27% in 2022, 6.5 points over 2021.

Is it wise to buy a property in Spain now?

The Bank of Spain predicts a return of 10% for the Spanish real estate market in 2023. In layperson's terms, buying property in Spain is considered a safe investment. It's highly unlikely that you'll lose any money if you take the plunge – provided you seek expert guidance and support throughout the buying process.

Why is property in Tenerife so expensive?

High international demand is having a large impact on the Tenerife property market. The majority of prospective buyers are interested in acquiring properties in the locations Costa Adeje and La Caleta. In recent years, prices here have risen by as much as 30 percent.

Where is the cheapest place to live in Tenerife?

Tenerife north is usually less expensive than the south, where you'll find many more renting options. The average cost for a room in a shared apartment is €650-800 per month while renting an entire apartment can cost you up to €1500 monthly. The cost of food in Tenerife is quite cheap.

Is Tenerife a good place to retire?

Sun, sea, and sand. The unbeatable climate is one of the greatest deciding factors for people retiring to Tenerife. Sea air and ocean water are good for the body and soul. Tenerife is often referred to as the island of eternal spring, where the sun shines for 365 days a year; sunsets are often spectacular.

How long can I stay in Tenerife if I own a property?

Even if you own a property in Spain, you're still entitled to stay for only 90 days in a 180-day period without applying for a residence permit or a visa.

Why is Tenerife so expensive now?

This is mainly down to a surge in demand for houses and villas at the higher end of the market. One of our sales was quite possibly the highest priced residential sale in the South of Tenerife – a large, modern villa in Costa Adeje Golf priced at over 6,000,000€ which we closed in September 2022.

Where to avoid in Tenerife?

Areas to Avoid Because of its volcanic background, most beaches in Tenerife are volcanic with black sand which can be hot under the feet. If you're after a traditional sandy beach head to Los Cristianos and leave the southern resorts alone. Playa la Arena is also notorious for pickpockets.