Opportunities for those looking to invest in the Spanish property market are rife in Tenerife where strong tourist numbers and internal population growth are fuelling demand for rental accommodation.
This is the view of Tenerife Property Shop, which told the Tenerife News that it was seeing a large increase in the number of buy to let investors purchasing property on the Canary island.
As well as strong tenant demand attractive tax benefits for long-term investment in the local rental market are encouraging foreign buyers to add Tenerife properties to their portfolios.
UK investors are particularly attracted by the healthy returns on offer in Tenerife and are even calling the island a buy to let paradise according to Tenerife Property Shop.
“The influx of these new investors into the Tenerife market has been building over several months, to the point where we can now identify it as an accelerating trend,” director Mary Spencer told Tenerife News.
The island attracts huge numbers of tourists every year thanks to its balmy climate and unique volcanic beaches and its many resorts offer something to suit all tastes, meaning investors will find it easy to cater to holidaymakers’ needs.