Tenerife as an investment location?

I am looking for a location to buy an investment property. Has anyone looked at Tenerife as a location, and the south of the island in particular? The island has year round sunshine which is a major plus for rental.

I recently spent a week in a new 4* apartment complex beside a golf resort between Los Cristianos and Las Americas. Cost of apartments were between 220 and 260K. It was about 1.5k from the beach (is this too far).

The area beside the complex is ready for development, roads have been laid and it looks like development will begin in the near future. Obviously buying off plans would be a better deal (as long as building is completed).

Your thoughts and wisdom appreciated as always

What's the name of the development?

Where I stayed was the Granada Park. There are no signs/adverts on the land that looks ready for development.

I wouldn't talk you out of it, but you really have to sit down and write out what the criteria are for making the investment and what your expectations are. If it ticks all your boxes then it has potential.

It's impossible to say whether any location is good value. We end up comparing it to what we know.

There is currently a moritorium on building 'Tourist' Complexes so the new properties that are coming on the market are 'Residential'. Technically you can't rent in a residential but the reality is very different.

They are concious of the reputation that the Veronicas in Las Americas has and have taken steps to clean it up. You should have noticed that Los Cristianos was much more 'settled'.

If you want something by the beach, you just pay for it. Walking 1.5km in near perfect weather should not bother most people. Having said that, the incline is towards the beach so it will take longer on the awy home . A taxi will cost you under €5 to travel that distance.

Hope this helps.

Agree with Kruger re distance from beach for holiday lettings there.
2/3 of the year in canaries generally attracts an older and retired type of client who would not fancy a long walk to the beach. Id say 1/2mile maximum.

Thanks for the advice!

Hi
Just posted here.
Would be happy to give advice based on my own purchase

http://www.askaboutmoney.com/showthread.php?p=342996&posted=1