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What is the buy to let market like?

Posted: Fri Nov 8, 2019 9:29pm
1 reply64 views2 members subscribed
Keith

Posts: 1

Location: La Orotava

Hi everyone, first post from me. 

I am considering relocating to Tenerife, after visiting for many years and talking to expats and some locals during that time. 

I have enough to buy my own property to live in, and was thinking of buying a flat to rent out either as a holiday let, or long term let. Until my Spanish improves I'll need to supplement my income. 

My question is - what is the rental market like? If I bought a 2 bed flat would I be able to find a tenant fairly quickly? Would it be better to buy a smaller place in a tourist area, and if so, is the Airbnb sector a reliable source of income? 

Any insight would be greatly appreciated. Thanks. 

Pat69

Wed Nov 13, 2019 8:50am

Posts: 6

Location: Los Cristianos

Posted: Wed Nov 13, 2019 8:50am

Hi. 

I have a penthouse for sale in Los Cristianos. I am getting so many enquiries asking if I would consider long let. I have had someone from the Olympics 2020 offering me €1,400 per month. 

I have no interest in letting. I think you will have no problem if you purchase in the right places. Los Cristianos, Las Americas or Adeje you will have people banging on the door to rent. 

I would go long term. No problems. EirB+B will be closed down by the hotels in the near future. 

Next door to my penthouse there is a couple who have been renting for years. Fridge went, washing machine went they bought new. They bought a new suite of furniture, all without asking the owner for anything. 

My advice would be to go long term in a private community complex. 

Best of luck

P J

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