A change in holiday habits and trends has helped make Tenerife rentals (long term rental or holiday accommodation) a great investment choice. Tenerife is the most popular winter getaway destination from the UK, beating the likes of Barbados, Egypt, Dubai and Goa. Rental investors have noticed that the growing popularity of private holiday rental has had a major effect on the profitability of property investments in Tenerife and the other Canary Islands.
It appears that the demand for package holidays has recently receded and is now being replaced by the growth of the independant traveller. Technology, the internet in particular, has been a major influence on our ability to be different.
The real winners in this attempt to be seen as different are the owners of investment property, and the majority of owners are highly optimistic about their projected earnings over the coming year, expecting an increase on the previous one.
This change in holiday habits is already having an effect on the property market in Tenerife. As demand rises for privately rented holiday accommodation, so supply follows closely on its heels. Increasing numbers of buyers are now listing rental income as an important factor in their purchase. The BBC recently showed a documentary on the subject and papers are running articles on Tenerife rentals.
Of course, not every property is suitable for such an investment. Tenerife investors need to take care in selecting the right property for the best returns, with the minimum problems. There are many factors to be taken into account, from the type of holidaymaker or long term rental you might expect in the area you are considering, to the rules of the specific community of owners. With experience of the market, a well established and reputable Estate, or Rental Agent will be able to advise and assist you. Needless to say, choosing which agent you use is of paramount importance to the success of your investment, so look for one which is long established with a good track record, and any recommendations are always a positive sign. Correct business advice right at the outset should lead to some lucrative business in Tenerife.