New Horizons - Buying Property Abroad
DON'T MISS: Live Arico Benefit Night - April 20th - The Theatre Bar - San Eugenio
With Europe in economic crisis those who still have money to invest may be looking further afield for their second home in the sun.
Recent online reports have mentioned both Cape Verde and Morocco as hot spots for property buyers in 2009.
Time will tell if the pundits are correct in that regard but in the meantime, property sellers in Spain continue to beat their drums about the great value of investing in property there. There seems to be no doubt that property bubble in the Costas has finally burst - thanks in great part to it being over-inflated in the first place.
But what about Tenerife and the rest of the Canary Islands and Balearics? Are they still good locations to buy? The estate agents at least would have us think so.
Some estate agents websites report that prices continue to rise while there is a never-ending flow of people to the island eager to buy indicating of course that tnerife property is still a good investment. I think like all sales pitches (estate agents don't make commission if you don't buy) that has to be taken in context and with a hefty pinch of salt.
All property prices are not on the rise. A glance at the listings by owner and estate agents at the casas y chalets section of the Spanish site segundomano.com will show you by the number of red 'down' arrows how many properties have been reduced lately. As mentioned in Tenerife Tattle sites like Segundo Mano are terrific for highlighting the (sometimes astonishing) price difference quoted per property by different estate agents.
The trick is finding a property at a realistic price and finding a mortgage to help you buy it. The people over at Tenerife Mortgage Brokers seem to have a handle on the latter and at the moment are even offering to save you up to €1,500 in the process.
So, if you are in the market for a new home abroad and have decided that despite all the shouting about Cape Verde and Morocco, you'd rather put your money in the tried and tested, my advice is to look around. A lot. It is so easy to find property listings on the internet nowadays and compare prices, locations, suitability of property and professionalism of the estate agent before you even pick up the phone.
A good place to
start is the website for The Tenerife Property Guide which carries
thousands of Tenerife Property listings
arranged geographically or by price and drawing on the portfolios
of the top estate agents in the south of the island.
Holiday Booking in Tenerife
Many people who are intending to buy a property book into a hotel or self catering Aparthotel for a few weeks while they look at potential property purchases.
Both Xcapewithus and Alpharooms offer great prices, a good selection and reliable customer service on short term accommodation in Tenerife.
Copyright (c)
2000 - 2008. All rights reserved.
Costa Del Silencio, Arona, 38630,
Tenerife, Canary Islands, Spain
Tel: 922 733 583
Email: info@etenerife.com