Is there such a thing as BARGAIN properties in Tenerife?
So why is the current market booming in the lower price range?
The credit crunch made many buyers downsize their aspirations and severely limit their borrowing to assist with an investment in a second property overseas. Where those buyers may typically have borrowed 70% toward their purchase in the past, now many of them are looking to purchase with available cash or just borrowing a small amount towards their purchase.
This has made homes in the sub €150,000 price bracket highly sought after
When promoting lower priced properties on our website, in the press and in newsletters, the response has been overwhelming, to the point where sometimes we have struggled to show these properties to the queue of people wishing to view, which is something we have not seen for some years.
The demand has been so high, the property portfolio of bargain properties of all agents has depleted dramatically, to a point where we are not just promoting properties to potential buyers, but are also advertising for sellers of properties in the lower price range.
Due to the demand and continuously reducing portfolio of these properties, it stands to reason that the prices of these properties will increase beyond normal expectations.
For the time being, there are still some lower priced properties that are attractive and in very good locations, so if this is something that interests you, then please contact us without delay.
Note: The fact that a property may be relatively cheap does not mean that it represents the best bargain. Some of the most discounted properties and best bargains to be found are perhaps out of the reach of many buyers. In an area where you might once have got little change from a million Euros for a luxury villa, it is sometimes possible to pick up one of these at a substantial discount, making it a real bargain investment.
Whilst there is currently a great demand for properties in the lower price range, there are some incredible bargains to be obtained in all price ranges, to suit the personal requirements and budgets of all investors.