High end Spanish property performing well

January 31, 2012 – 9:45 am

High end property in Tenerife and Spain performing well

Despite tough market conditions for property in Spain, one company has posted its most successful operational year to date in 2011, showing the appetite for high-end Spanish real estate has not waned.

2011 saw Lucas Fox doubling its staff, opening new offices and posting record-breaking third quarter profits of 19.5 Million euros, proof of the continued appeal of Spain among the cash rich. Among the most popular areas for investment were Barcelona, the Costa Brava and Mallorca where investors snapped up boutique and luxury pads.

Aimar Valls, Head of Commercial & Investment Property commented, “In the last year we have received a dramatic rise in both the quantity and quality of enquiries for commercial and investment property. Central Barcelona is a hot-spot for hotels, hotel projects and buildings with potential for tourist apartment rentals.

And the company is also optimistic about their fortunes in 2012. Director Alex Vaughan explains, “Our transaction pipeline is already looking strong and the outlook for the year is very encouraging. We start 2012 with over 5,000 active property buyers registered from Northern and Eastern Europe, Russia, Scandinavia, the Middle East, the U.S and China.”

Source: APlaceintheSun.com

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

Holiday rentals market on the up in Tenerife and Spain

July 25, 2011 – 10:44 am

Rental property prices on the increase in Tenerife and Spain

The market for holiday rental properties in Spain is on the up, it has been claimed, with more travellers heading to the Mediterranean for a break.

Chief executive officer of the Travel Rental Network Brian Schwimmer stated that rental values in Spain are on the increase, which could bode well for investors with property in the country.

He explained that many holiday home owners cut their prices dramatically in 2009 and 2010 in a bid to attract more UK tourists; however, a rising number of travellers from all over the world are now heading to Spain.

As a result, “prices are normalising once again, so people expecting the same discounts they saw last year might be in for a surprise,” Mr Schwimmer commented. Good news at last for those in Tenerife and the Canary Islands  with properties to let.

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

Investors eye Tenerife for bargains

November 19, 2008 – 5:38 pm

Springtime in Tenerife

Though never really scorching, Tenerife is pleasantly warm all year round (not for nothing is it known as ‘the Island of eternal Spring’). With tourism on the rise as, for many people, Spain simply gets too hot, sticky and crowded in the summer months.

In view of this, the occupancy of property in Tenerife is generally in the range of 70% and 90% allowing investors to make rental yields of around 8% depending on how much they use their properties themselves.

Capital appreciation on apartments is likely to be around 10% -15% annually when looking at the long term (10-15 years), this despite the recent downturn in the world’s economy.

While Tenerife’s property prices are slightly higher than some of the emerging markets, you are paying a

The lovely Parque Don Jose complex, Costa del Silencio

The lovely Parque Don Jose complex, Costa del Silencio

little extra for the safety of buying a property that you can use/rent-out straight away, and in a secure, established environment which also has a well developed infrastructure already geared up for tourism, making the property easy to market for holiday rentals.

Just one example of the opportunities in Tenerife is the suburb of Costa del Silencio, where planning permission was recently granted for a new five star hotel with an artificial beach and a spa. This clearly suggests that the area is seen as a new growth area. Also in Costa del Silencio, the lovely Parque Don José complex has just received an EU grant to be used for making a massive upgrade to the resort, which of course will push prices upwards.

Now is probably the time to buy in Tenerife’s Costa del Silencio as prices have fallen dramatically over the last few months (as they have throughout the world).

By Angela | Posted in Property, Tenerife | Tagged , , , , , , | Comments (1)