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News: Price shock for Tenerife investors

Thu, 25 Oct 07

Property buyers in Tenerife are in for a surprise when it comes to property prices...

Value It España SL , the Santa Ursula based assessor of property prices in Tenerife, releases today an analysis of the costs of property for the areas that make up the North and Isla Baja of Tenerife. This is based upon its September issue of property price ranges for the north of Tenerife covering 2,185 properties.

Puerto de la Cruz is the most expensive at an average for all properties at 2,562 euros per square metre, followed by 2,219 euros per square metre for El Sauzal which is then followed by Santa Ursula at 2097 euros per square metre.

At the other end of the scale San Juan de Rambla has a cost per square metre average of 1,296 euros, closely followed by Icod de los Vinos at 1,403 euros per square metre. This means that the cost of property is almost half in San Juan de Rambla price relative to the average cost in Puerto de la Cruz.

Protected areas push prices higher

The average for the whole of the north of the island including the Isla Baja (Garachico through to Buenavista) area is 2099 euros per square metre

Commenting on the figures, J Gardner of Value it, said: ‘These costs per square metre perhaps come as a surprise. For example, El Tanque, with its relative remoteness has a higher cost per square metre than San Juan de Rambla and Icod de Los Vinos. Perhaps it is the protected nature of this area that is keeping prices relatively high.´´

Below is the cost per square metre average for each of the municipios in the north of Tenerife, ranked in ascending order:

The costs per square metre, ranking each of the municipios or local government areas are given below:

San Juan de rambla   1296
Icod  1403
El Tanque  1430
Buenavista  1578
Los Silos  1705
La victoria  1781
Los Realejos   1791
La Guancha   1805
Garachico  1842
Tacoronte  1868
La Orotava  1909
La Matanza  1991
Santa Ursula   2097
El Sauzal  2219
Puerto de la Cruz   2562

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