 Closer to Northern Africa than mainland Spain, the volcanic island of Tenerife has
long been a favourite destination for tourists and Spanish property hunters alike. Its
southerly declination provides visitors and residents with all-year-round warmth and
seemingly endless days of sunshine, whilst its famous black sandy beaches and
stunning scenery leave a lasting impression on all who set foot on this idyllic island.
Tenerife is just one of seven islands that make up the Canary Islands. It is located out
in the Atlantic Ocean, at the same latitude as the Sahara Desert, to the southwest of
mainland Spain. The island is dominated by the snow-capped caldera of Mt. Teide,
which rises up some 3715m above sea level, and can be seen from every part of the
island. The volcano today lies dormant, but it is from past eruptions, dating back more
than 20,000 years ago, that the black beach sands have appeared.
Aside from Mt Teide, the island's interior is lush and green. Numerous banana
plantations mingle with forest pines and hillside villages in a rugged but beautiful
landscape. Mt Teide itself is surrounded by the vast and sprawling El Teide National
Park - a haven of unspoilt wilderness, in which many people enjoy activities such as
hiking and climbing.
Tenerife's most popular resort areas all lie around the coast. Playa de las Americas
and Los Cristianos are the two most favoured areas on the south of the island, while
Puerto de la Cruz is the most visited location on the north side. The beaches at these
resorts are naturally one of their biggest assets, with the beach at Playa de las
Americas being particularly striking, owing to its golden sands imported from the
Sahara. Santa Cruz de Tenerife is the island's capital city and is situated on the north
side of the island. It is a thriving community, cultural centre and home to more than
200,000 people. The city though is perhaps best known for its carnival, which takes
place every February, and is rivalled only by the Rio de Janeiro festivities.
Tenerife property represents a good investment opportunity, regardless of whether
you intend to let the property out to tourists or plan on retiring in the sun. There is
currently a moratorium on new building projects on the island, so potentially
squeezing the supply of property available in the near future. This is likely to cause an
increase in prices as demand outstrips supply, adding a great deal of value to your
Tenerife property.
Buying property in Tenerife is subject to the same laws and conditions as buying any
type of property in mainland Spain, such as a villa in Spain. Purchasers should allow
funds equivalent to 8% - 10% of the purchase price to cover legal expenses, notary
fees and taxes.
Additionally, in Tenerife, some buyers of Spanish property on the island will
automatically become members of a Community of Owners. This is a community
enforced by Spanish law, and applies to all owners of property where there is a
communal area that is shared, such as is common when apartments and terraced
properties are purchased. It basically enables the cost of maintenance and services for
the communal areas to be shared amongst the property owners in a democratic way,
without the onus falling onto the shoulders of any one person or owner. Buyers should
always check with the seller on such matters before going ahead with their purchase.
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