New figures show that the island of Tenerife is still the most popular search destination for buyers seeking property in Spain. Mallorca was the next most popular search and the popularity of the Canary Islands shows that interest in the Spanish Costas is in decline. The results of the survey revealed that Tenerife is twice as popular as the Costa Blanca and more than three times as popular as the Costa Del Sol. The coastal regions of mainland Spain have traditionally proved popular for holidaymakers and relocators alike, however, Tenerife has now moved to the top destination.
It comes as no surprise to the residents of the island why Tenerife is the most popular with British & Northern European property buyers. They have invested millions of euros in recent years on development of an excellent infrastructure and diversity. Tenerife also has a large ex-pat population, and a good mix of modern and more traditional housing, with properties that range from small apartments to large country estates. Buyers are looking for 'safe havens' and the 52 week holiday rental season provides high returns on their capital investment in the form of 'holiday letting' together with the capital appreciation. Wealthy Russian buyers have been competing with the more traditional buyers in recent months. Concerns of over development and corruption on the mainland have also motivated more buyers to purchase in Tenerife, however, the single biggest motivator for most buyers is the glorious climate, boasting one of the best in the world (and certainly the sunshine state of Europe).