As we delve into the dynamics of the Tenerife property market for May 2023, we’ll look back at the landscape in May 2022 and April 2023 for a richer perspective. By maintaining a consistent data source for the property figures each month, we strive to present you with the most accurate insights on emerging trends and changes in the market.
Throughout this period, Tenerife’s real estate market has shown robust growth. A year-on-year analysis reveals notable increases across several key areas. Arona, for instance, witnessed a 15% upswing, while the market in Los Cristianos surged by nearly 22%. Adeje was the star performer, registering a substantial 29.5% growth in property prices. In addition, Costa Adeje, a highly coveted region on the island, also experienced significant price escalations.
The monthly comparison between April and May 2023 brings to light more nuanced details. Arona’s property market grew by 0.6%, while Los Cristianos saw a 1.7% rise. Adeje’s market outpaced them with a 2.3% increase. Notably, Costa Adeje played a significant role in buoying the overall growth, with its own 2.2% rise.
Moving onto the inventory, Tenerife boasted a total of 9,234 properties for sale during our analysis period. While it’s important to note that some of these properties may be duplicates listed by different agents, the figures offer a reliable snapshot of the market’s trajectory.
Drilling down further, Arona had 1,481 properties on offer with an average asking price of 3,127€ per square meter. Among these, 367 properties were nestled in the heart of Los Cristianos, where the average asking price soared to 4,239€ per square meter.
Meanwhile, Adeje, with 1,684 properties up for grabs, quoted an average asking price of 4,419€ per square meter. The sub-region of Las Americas, boasting 140 properties, exhibited an even higher average asking price at 5,173€ per square meter.
Costa Adeje, always a hotspot, featured 1,020 properties on the market, with an average asking price of 5,000€ per square meter. This underscores the region’s desirability and its role in Tenerife’s thriving property market.
For more insights and detailed historical data, be sure to visit contactsimon.com. The site is a trove of resources for those interested in Tenerife’s property market, including an ebook guide to buying or selling property on the island. Navigate the Tenerife property landscape with confidence, equipped with the latest and most comprehensive data at your fingertips.
