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stevehulluk
Baby Reefer
Joined: 07 Dec 2006
Posts: 14
Location: Hull UK
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 Post subject: Tenerife Property Market |
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Just a quick message if anyone can help.
Back in the UK we are presently getting all sorts of news about how difficult the Spanish property market is at present, especially with the ever rising Euro, however has the downturn extended to the Canaries as yet? Are prices starting to fall over there? Any opinions much appreciated. Cheers. |
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Wed May 07, 2008 10:17 pm
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funky
Supreme Reefer
Joined: 22 Feb 2006
Posts: 1645
Location: He's behind you ........
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The market in the whole of Spain is grim at present. The Canaries are faring slightly better, but not much. Most notaries in the south (where the majority of tourist transactions go through) are 40% down on last year's business.
Its definitely a buyers market. I would say that most sellers serious about shifting their properties within a reasonable period are having to drop 10 - 20% on what were typical asking prices this time last year (although they were overinflated back then anyway).
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My Paranoia-Management Therapy is going great! Now they're only watching me half the time.... |
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Thu May 08, 2008 2:17 pm
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rob
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Joined: 08 Aug 2004
Posts: 7081
Location: Tenerife
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According to several of our agents, April has been a surprisingly good month for property sales in Tenerife.
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Who am I? Follow the myspacetenerife link under my avatar.
Remember: You don't stop laughing because you grow old, You grow old because you stop laughing. |
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Thu May 08, 2008 2:54 pm
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