Real Estate in Tenerife: how to acquire dwelling in a corner of paradise
Real estate in Tenerife is popular among our compatriots wishing to relocate for permanent residency and more often visit warm and welcoming Spain. Even in winter, the average temperature is +20 ° C; the climate is mild and comfortable.
Prices for residential property in Tenerife
The cost of real estate in Tenerife starts from 50-60 thousand euros. For such a price you can find cheap studios and one-bedroom flats with a modest renovation. The average price for apartments in the secondary market is 1300 euros / m². In good modern new buildings cost of residential property comes to 2.6–2.7 thousand euros / m². The cost of villas and houses — from 300 thousand euros. When buying a house for more than 500 thousand euros, you get a gold investor card that enables you to freely apply for a residence permit.
The price of apartments and houses in Tenerife depends on the location and infrastructure, condition, area of the premises, quality of repairs and furniture. The closer a property to the sea, the higher its cost.
How to buy property in Tenerife
You can buy residential property in Spain both in cash and in a mortgage. Installment conditions in Europe are loyal. Russians can apply for a mortgage in the amount of up to 60% of the real estate value.
Real estate in Tenerife can be purchased for personal use and for renting out. To obtain a stable year-round income, you should select a property in popular resort cities. For example, Los Cristianos or Costa Adeje.