Interest in buying property in Tenerife has grown in recent years thanks, above all, to two factors: the island's international marketing efforts and the increasing value of its properties. Our Canary Island has left behind its dependence on the British market, diversifying and gaining new visitors from Germany and the Nordic countries attracted by its excellent weather conditions year-round. Upon arrival in Tenerife, these new visitors discover a whole world of possibilities, including first-class golf resorts like the one at Abama, where they can make a highly profitable real estate investment.
Tenerife: an international island
At the most recent ITB Berlin fair, the most important event in the international tourism sector, the president of the Cabildo of Tenerife, Pedro Martin, stated that investment in island promotion and connectivity with other ports and airports around the world has increased fivefold in recent years to facilitate tourism. These investments dovetail with the excellent reception of the destination by German tourists, who are delighted with the natural wealth of the island. "The numbers show increased traveler loyalty as well; almost 62% of Germans who visited Tenerife in 2022 had already been to the island before," explained Pedro Martín at a press conference.
Tenerife's Biosphere Certification as a sustainable destination, its recertification as a Starlight Tourist Destination, and its recent accreditation as a Smart Tourist Destination add even more value to its international positioning. In terms of connectivity, the figures advanced by the Cabildo at ITB Berlin speak for themselves: in 2022, regular air travel capacity was 54% higher than in 2021, and there were connections with 20 German airports.
Real estate interest
Real estate company Tecnocasa’s report "Analysis of the housing market in the Canary Islands" confirms that it’s a good moment for real estate investment in this part of the world. The report states that in in terms of buying property in Tenerife, commercial operations rose to 27% in 2022, 6.5 points over 2021. Tecnocasa's Analytics Director attributes the rise to rental profitability, which stands, on average, at a 8.6% gross per annum.
The link between the island's great tourism numbers and real estate investment is clear: three out of every ten homes have been sold to international buyers, mostly Germans. In fact, studies show that when seeking property to buy in Spain, Tenerife is one of their preferred destinations both for investment and for second residences. The possibility of working remotely in good weather conditions (without leaving Europe) is one of the main motivations for buying property on Tenerife. In addition, because Tenerife is part of the Canary Islands’ Special Economic Zone (ZEC), the tax incentives are substantial.
Destination: Abama Resort Tenerife
Among the other options on the island of Tenerife, visitors will find in Abama Resort one of its most exclusive destinations. This secure, immaculately kept space includes hotel facilities, an award-winning golf course, Michelin-starred restaurants, access to a quiet beach cove, tennis and paddle courts and a wide range of homes with different characteristics. Two- and three-bedroom apartments such as those in Los Jardines de Abama can be rented for tourism use and offer an interesting return on investment. There are also two-story villas available, like Las Villas del Tenis, which allow their owners to combine personal enjoyment with holiday rentals to third parties.
The rise in foreign real estate investments indicates that property for sale in Spain, and particularly buying property in Tenerife, are gaining international attention. With a constant influx of tourists with high purchasing power looking to rent luxury accommodation, it’s a very interesting place to consider for those who want a rental component to their property. Additional yearly income is another plus for buyers who will spend time on the island themselves, attracted by the wide range of its cultural, sports and leisure activities, and the ability to work remotely.
