Tenerife is famous for beach holidays and a number of attractions. The Teide volcano and the historic city of San Cristóbal de La Laguna are UNESCO World Heritage sites.
Real estate in Tenerife, as in many other well-developed resort islands, is difficult to generalize. Many properties are built and continue to be built for sale in various formats, with a wide variety of layouts. These include standalone villas and townhouses, apartments in multi-story buildings, and penthouses within them. The price of real estate is strongly influenced by the distance from the sea. So, by buying an apartment on the so-called second coastline, that is, about 400 meters from the sea, you can save significantly.
The cost of the simplest studio apartments on the second coastline starts from about 80-100 thousand euros. Such apartments in Tenerife usually have one bedroom, a living room-kitchen, a bathroom, and a balcony. A spacious penthouse costs several hundred thousand euros (from 500 thousand), with some exceeding one million euros. A townhouse will cost the buyer on average from 200 to 400 thousand euros. The cost of villas roughly corresponds to that of penthouses. Some luxurious villas and estates sell for up to one and a half to two million euros or more.
It should be noted that apartment rentals in Tenerife are very widespread, but it is worth considering that the niche of inexpensive rental housing in Tenerife is occupied by numerous hotels (private and public) of different star ratings (from 1 to 5 stars). Therefore, what is offered for rent here are predominantly very substantial apartments with several rooms, good renovation, and all necessary household appliances. Renting such an apartment will cost several hundred euros per day, while in a local three-star hotel a single room can be rented for 30-40 euros per day.
It is not uncommon for advertisements to list both the rental price and the purchase price of a single property (apartment, townhouse) in Tenerife. This means that the owner is looking for a buyer, but until a buyer is found, the owner will rent the property to tourists on a short-term basis.
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