Russian buyers still interested in Tenerife and its property.

June 25, 2009 – 12:05 pm

Russian buyers are still interested in prime property in Tenerife

Russian buyers are still interested in prime property in Tenerife

Russian property buyers remain very much interested in quality residential properties in prime locations but have reduced budgets.

The majority of current interest is from the second generation of Russian High Net Worth Individuals.  This buyer category will typically have a smaller budget than the initial wave of Russian buyers and will be more cautious in approach.  In contrast to the typical Russian buyers of two to three years ago, they are no longer driven by spontaneous interest. They are looking more long term in order to find a property that will match their lifestyle aspirations and are prepared to wait until they find exactly what they are looking for in Tenerife.

Today’s Russian buyers will more often than not want to integrate into the local community as they are often seeking a year-round destination rather than a holiday home. It may also mean renting before committing to a purchase in order to get a feel for the local environment.  

This means that their requirements when looking for a property are more driven by practicality: a classic exterior with a modern and functional interior offering good space, which comes well specified and with the latest hi-tech accoutrements and modest rather than extensive staff accommodation.  Sea views are preferred although there is demand for quality and prime properties in all Tenerife locations.

By Angela | Posted in Economy, General, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do | Tagged , , , , , , , , , , , | Comments (0)

Long and Short Term Rental investors gain in Tenerife

March 15, 2009 – 11:55 am

Rental Invetsors gain in Tenerife

Rental Investors gain in Tenerife

A change in holiday habits and trends has helped make Tenerife rentals a great investment choice.  Tenerife, in the Canary Islands is the most popular winter getaway destination from the UK, beating the likes of Barbados, Egypt, Dubai and Goa. Rental investors have noticed that the growing popularity of the private holiday rental has had a major, positive effect on the profitability of property investments on Tenerife and the Canary Islands.

The demand for package holidays has receeded and is being  replaced by the growth of the independent traveller.  Technology, the internet in particular, has been a major influence on our ability to be different.

The real winners in this attempt to be seen as different, are the owners of investment property.   The majority of owners are very optimistic about their projected earnings over the coming year, expecting an increase on the previous one.

This change in holiday habits is already having an effect on the property market in Tenerife.  As demand rises for privately rented holiday accommodation, so supply follows closely on its heels.  Increasing numbers of buyers are now listing rental income as an important factor in their purchase.  The BBC recently showed a documentary on the subject and papers are running articles on Tenerife rentals.

Of course, not every property is suitable for such an investment.  Tenerife investors need to take care in selecting the right property for the best returns, and the minimum problems.  There are many factors to be taken into account, from the type of holidaymaker or long term rental you might expect in the area you are considering, to the rules of the specific community of owners.  With experience of the market, a well established and reputable estate agent will be able to advise and assist you.  Needless to say, choosing which agent you use is of paramount importance to the success of your investment, so look for one which is long established with a good track record (recommendations are always a positive sign).  Correct business advice should lead to  lucrative business in Tenerife.

By Angela | Posted in Economy, General, Holiday, Miscellaneous Articles, Property, Tenerife | Tagged , , , , , , , , , , , , , | Comments (0)

Manchester City FC enjoys Tenerife hospitality and weather

January 20, 2009 – 9:58 pm

Mt Teide TenerifeTenerife, has long been a favourite destination for UK tourists on beach holidays, is also one of the favourite hangouts of sports stars looking to train in a stress-free environment (many of whom own nice apartments on the island), as the presence of one of the UK’s top football clubs demonstrates.

While the island may be associated with lounging on the beach and nightclubbing for many UK tourists, the footballers of Manchester City have been working hard during their time on Tenerife.

The players, who include the Brazilian superstar Robinho - signed for £32 million from Real Madrid in the summer - have been working in a winter training camp.

Tenerife has attracted sporting superstars to its training facilities in the past. Last year, cyclist Lance Armstrong, the seven times winner of the Tour de France, was spotted training on the island. Apparently Armstrong,  training for a comeback with his new team Astana, was stopped while cycling by local police who were after his autograph.

By Angela | Posted in General, Golf, Holiday, Premier League football, Sports Desk, Tenerife, Things to Do, Weather | Tagged , , , , , , , | Comments (2)