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Tenerife 2008 Buyer's Paradise - Top Ten selected properties |
2008 will be a great year for buyer’s in Tenerife.
With property prices all around the world being through the roof there has never been a better time to bag a bargain in Tenerife than now!
What can you buy with 150.000 € (£112.000) in your back pocket?
This probably wouldn’t buy you much back in the U.K. where property has been rising and rising so much in the last few years that first-time buyers cannot even get on the first rung of the property ladder.
In Tenerife this budget will still get you a good quality one bedroom apartment in the main tourist areas or even a 2 bedroom apartment in an out-of-town area, usually only a 10-15 minute drive to the nearest tourist areas.
We are talking about a destination with 365 days of good weather guaranteed with a stable European economy, a stable Parliament, no earthquakes, no Tropical storms, good security and of course a brilliant place to live! Not to mention the fact that it is only a 4-5 hour flight from most European countries and with more and more low-cost options to get you here.
With prices having peaked a couple of years ago and the subsequent slow-down of the market due to the credit problems which started in America and then spread to the rest of the world, people have had to readjust their expectations if they want to sell their property. This means that there is now an opportunity to buy property a lot cheaper than it was a couple of years ago. But so far, only the big investors have realised this and they are buying apartments in blocks!
“Buy when everyone else is selling and sell when everyone else is buying”may be a well-known frase to everyone but few people have the guts to put this into practice.
These prices are not going to hang around for very long. At the moment the builders have stopped building due to the crisis, the population of Tenerife is still on the increase and so is the ex-pat community so it won’t be very long before the surplus of apartments up for sale now are going to be whipped up. When there is a shortfall of property the builders will start to build again but due to new reguations and the ever increasing price of land these properties will not be cheap and this will in its turn influence the price of re-sale property.
So, for those of you out there “in the know” or with a little “nest-egg” to invest here are our “Top Ten” best investments to be had in Tenerife right now:
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