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or a number of reasons, owning a property in Tenerife has a sound commercial basis, which augurs well for future stability and despite the occasional pauses and even the odd setback, the price of property and land has always proved to be the ultimate winner as a long term investment.
Tenerife is a duty free island, which means that you can buy many imported goods at lower prices than in mainland Spain.
Since Spain became a member of the European Union, there have been many changes and there is now a firm democracy, a stable government and an expanding economy making it very attractive to foreign investors.
Tenerife has the best all-year-round climate thus creating a twelve month holiday season. Combine the stability of the Euro with the stability of the Tenerife sun and a sub-tropical climate and you have the perfect combination for investment in overseas property. For this reason, Tenerife is more attractive to property purchasers than ever before and that is why the demand for property is ever increasing and will continue to do so.
Tourism in Tenerife is increasing year by year, creating extra demand for rented accommodation. An investigation made by a Spanish magazine found that costs for a tourist were lower in the Canary Islands than in any other tourist area of Spain, and much lower than most other tourist destinations in Europe. Combine this with the year-round climate and it stands to reason that tourism will continue to grow in the future.
The increasing demand for property by buyers and the increasing demand by tourists for accommodation means that the potential capital growth and income for the investor is nothing short of extraordinary, particularly in the sunny south of the island where 75% of all tourists choose to stay.
