The Second Best Time to Buy a Property in Tenerife

Over the 25 years that Tenerife Property Shop has been advising clients on their real estate investments, Bruce Grindley has seen the markets rise, fall and then rise again. There are few people more qualified to comment on the Tenerife property market. Bruce has advised all sorts of investors who have made excellent returns from property in Tenerife.

“The losers are the ones who missed out on opportunities because they were so wrapped up with trying to time their purchase right, that they forgot to take the plunge and buy something,” says Bruce.

“These are investors who are completely focused on figuring out when the market has bottomed out so they can be sure of getting a bargain. They read the press and watch the news, but in the end they can never be sure when to buy and opportunities slip through their fingers,” smiles Bruce, sadly.

“By the time they realise that they should have snapped up the bargain they saw six months ago, the market has moved onwards and upwards.”

“The fact is there have been lots of fantastic opportunities in the Tenerife property market over the last year, and they won’t come back again. The investors that recognised a bargain when they saw one acted. Since those were bought, we have seen comparable neighbouring properties sold for a higher amount, so those investors have already seen some growth.”

“It is an excellent time to buy a property investment in Tenerife,” says Bruce adamantly. “We are seeing the property buying market expanding as new tourism markets discover Tenerife. Even the British market is starting to recover.”
Indeed the news has been positive from almost every direction. The Spanish economy has seen growth in two consecutive quarters, while Tenerife experienced a summer tourism boom that was over thirty percent up on the previous year.

Much of the growth in the local economy is attributed to a rise in tourism from Eastern Europe. Investors from these countries have also discovered property bargains in Tenerife, injecting the market with new buyers. Their existence paints a bright future for today’s investors because they are at the vanguard of huge new buying markets.

The British investing market is also starting to revive, albeit more slowly. Though enquiries have risen substantially, many of these are sitting on the fence wondering if the time is right to invest. And while they do so, the bargains are fast disappearing.

Bruce smiles as he says, “Almost every day people ask me about the best time to buy a property in Tenerife and I always say, it was 25 years ago. But the second best time to buy is today!”

And Bruce has almost certainly got it right again. He has been advising investors successfully for the last quarter of a century and his advice has been consistently proved right.