In this month’s market snapshot, we’re going to be having a look at the difference in asking prices between May 2023 and June 2023. And also we’ll be looking at the difference in prices between June 2023 and June 2022.
So don’t forget, I do these every month.
I take the figures from the same sources every month.
So although they may not be exact, it’s always very, very difficult to get figures exact here, they are going to be showing us any trends that we can see going up or down.
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So if you’re thinking about buying a property, you’ve got a guide there.
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So the first slide we’re looking at is a difference in prices between June 2023 and June 2022, so the whole year’s difference.
So as you can see, there’s a big difference between last year’s and this year’s prices, ranging from 15% up to 34%, nearly 35%, difference there.
So we’ve got Arona, the whole of Arona, the municipality of Arona.
Change in price between June 2022, June 2023 of 15%.
Narrowing it down to Los Cristianos, to the actual town itself, 23% increase.
Adeje, the municipality of Adeje, so it’s a big municipality, Adeje.
Increase in price there of 34%, nearly 35%. And Costa Adeje there, so this is ranging from half of Las Americas going through to Bahía del Duque, La Caleta, places like this, going up to Callao Salvaje, increase there of 25.4% in a year.
Let’s have a look at the next slide.
So now we’re going to look at month on month.
So this is the difference between May this year and June this year, price changes.
Now this is interesting, or is it?
So this is the month on month change between May 2023 and June 2023, and we can see something very interesting there, 0.6% drop in asking prices in the area of Arona. And this is interesting because I looked up the change in prices between April 2023 and May 2023, and there’s actually an increase there for the Arona area of +0.6%.
So between May and June this year, they’ve gone down slightly. So are we seeing a levelling out? I know obviously we’re seeing a 0.6 drop there, but are we seeing a levelling out of prices? Is this something that we’ve been waiting for a couple of years now? Who knows? Let’s wait and see.
We have a look further down.
So Los Cristianos there has an increase in 1%, and in fact, going back to between April and May of 2023, it was an increase of 1.7%. So again, an increase in Los Cristianos between May and June 2023, but not as much as last month.
Is there something happening in the area of Los Cristianos, Arona? Let’s find out as time goes on.
So we can see the Adeje area’s gone up by 4.8%, which is actually higher than the previous report I did.
And then Costa Adeje itself up by 2.3%, which is much the same increase as it was on the previous report I did.
So looking at the area of Arona in a little bit more detail, in total there are 9,380 properties for sale in the whole of Tenerife. 1,500 of those are in the area, the municipality, of Arona itself, and the asking price at the moment is just over €3,000 per m2.
Then we look at Los Cristianos. So of those properties that are available for sale in Tenerife, as I said earlier, 1,500 of those are available for sale in Arona. And out of those 1500, 400 are for sale in Los Cristianos and their asking price is an average of €4,234 per m2.
Then we look at Adeje as a whole. So going back there, we’ve got 9,380 properties for sale throughout Tenerife, so that obviously hasn’t changed. But then Adeje… 1,786 are for sale in the Adeje region and the average asking price of 4,490 per m2.
If we then take Las Americas. Now don’t forget, Las Americas is half Arona and half Adeje. But they’re saying that out of the 1,786 properties available for sale in the Adeje area, 150 of those are for sale in Las Americas, with an asking price there of €5,279 per m2.
And then looking at Costa Adeje itself. Again, 1,786 for sale in the whole of Adeje. Costa Adeje, 1,081 properties for sale. Now don’t forget, as I say, it’s a massive area, Costa Adeje, asking price average there, €5,181.
Don’t forget, I do these every month. I take the figures from the same sources every month. So although they may not be exact, it’s always very, very difficult to get figures exact here, they are going to be showing us any trends that we can see going up or down, exactly as we just saw in Los Cristianos, the Arona area. So let’s see if that pans out and levels out prices.
Are they going to go down?
Are they going to go up?
We’ll have to wait and see over the next few months.