CANARY ISLANDS
Lettable holiday homes
Playa de Las Teresitas and San Andres,
TENERIFE F
or
www.holidaylettings.co.uk, Tenerife is the main player. “By far the most popular island, it generates 70
enquiries per property, per year – double the average home on our site,” says their spokeswoman Lanisha Butterfi eld. Hardly surprising when you consider that 1.5million Brits went there in 2010, a 10 per cent rise on the previous year. “Playa de las Americas is very popular; despite the increasing volume of homes in the area the number of enquiries still exceeds the average by more than double. Los Cristianos also performs really well and Golf del Sur [a golf resort] is also quite popular. Two-bedroom apartments are the most demanded because they suit a family.” For a cash-cow property that will
really earn its keep, look at the three- kilometre stretch of hotels and apartment complexes on the south- west coast that draws two-thirds of the island’s visitors. Holiday lettings here are more lucrative than long- term rentals (which have declined in popularity in recent years), and allow for personal usage too. Las Americas merges in with Los
Cristianos to the south (and Costa Adeje to the north) and contains rows of holiday apartment complexes leading from the seafront. It is these complexes behind the beach with plenty of facilities which reap the richest rental rewards, say www.
homeaway.co.uk. Their most successful properties in Tenerife are in seafront complexes in Playa de las Americas, with the average weekly rent of a one-bedroom apartment being £315, or £427 for two bedrooms. You can buy a resale apartment
for around €200,000 (£177K), according to Bruce Grindley, Managing Director of the island’s
28 A PLACE IN THE SUN JUNE 2011
largest agent, Tenerife Property Shop (
www.tenerifepropertyshop.com), but for the greatest return on your investment, he suggests you look elsewhere. “There are an awful lot of one-bedroom apartments available to rent in Playa de las Americas, followed by Los Cristianos, so you must ask yourself if there is too much competition,” says Grindley. “You are better off buying a two-bed
apartment – or larger – and to look at locations where the outlay [purchase price] is going to be smaller and there is less competition,” he says. He suggests that the next-door golf
resorts of Amarilla Golf & Country Club and Golf del Sur – ten minutes’ drive east from Las Americas – are the best to buy for long and short term lets: “You can buy a resale two- bedroom apartment at Aguamarina [Golf del Sur] overlooking the ocean promenade for €179,000 (£158K). With three bathrooms, and a sofabed in the lounge it will sleep six and you would get 40 weeks’ rentals comfortably (at £350 per week for four people, £400-plus for fi ve or six), giving you £14,000 income, and some usage yourself. That’s about an eight per cent yield, when you’ve deducted upkeep costs.”
One-bedroom apartments at both golf resorts typically cost around €100,000, although you can get them on Amarilla Golf for €80,000 (£71K), with a rental value of around £195 a week, according to Grindley. “For other popular rental areas –
the Parque Santiago complexes [frontline Americas] and upmarket Fanube, for example, the numbers just don’t work as the purchase prices are too high. “If you do prefer to buy in the big
resort area then I’d look at Torviscas, Santa Eugenio [Costa Adeje] and the marina at Puerto Colon where you’ll get a one-bed for £120,000-£160,000.”
Sarah Macdonald at Sunway
Tenerife selects the Santa Maria apart-hotel at Puerto Colon for holiday lets (
www.sunray-tenerife. com). “Studios cost €80,000 and bring in €195 a week; one beds with sea views around €140,000 (£124K) but earn €250 per week,” she says. For long-term rentals she highlights Castle Harbour Apartments at Los Cristianos, where one-bedroom resale properties selling for €120,000 (£106K) will bring in around €500-€550 a month – or Los Taginastes, which is an older but popular complex, with very similar selling costs and rental revenues. There’s much less demand for villa
rentals in Tenerife, but it’s increasing; the “best value” to buy are on Golf del Sur, according to Grindley, at €650,000 (£575K) for four bedrooms and a pool.
FOR SALE ON TENERIFE
Where: Amarillo Golf, Tenerife Price: €100,000 (£88K)
This one-bedroom apartment on the popular resort will rent for £195-plus per week.
Contact: Tenerife Property Shop, 0034 9227 14700,
www.tenerifepropertyshop.com
Where: Santa Maria, Tenerife Price: €149,000 (£132K)
One bedroom apartment in a popular apart-hotel that’s great for year- round income.
Contact: Sunway Tenerife, 0034 9227 90021,
www.sunway-tenerife.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100