New houses and developments in Santa Cruz de Tenerife
New developments in Tenerife
The largest island in the whole of the Canary Islands, Tenerife, and its capital, Santa Cruz de Tenerife, concentrate the majority of the new build property offerings in the province. Currently, there are around 50 developments to be found on the island.
The cheapest price per square meter can be found in Aguamansa and Tagoro, with prices ranging from €800 to €1,100 per square meter. The average price can be found in San Cristóbal de la Laguna and Güimar for just over €2,000 per square meter. Prices start to rise as you approach the sea and the capital. The most expensive areas are the coast of Adeje, with prices per square meter of over €5,000, Guía de Isora for €3,900 per square meter, and Arona for over €3,500 per square meter.
Where are the newest developments under construction?
Currently, the localities with the newest construction home offerings in the province of Tenerife are Tenerife (39), Arona (5), San Cristobal de La Laguna (5), Güimar (4) and Adeje (3).
In which beach cities are the main new developments located?
The most important and relevant new construction developments in the coastal area are located in the municipalities of Santa Cruz de Tenerife, Arona, San Cristobal de La Laguna and the coast of Adeje.
What influences the price of new property in the province of Tenerife?
As a general rule, buying a property on an island is much more expensive than on the mainland. The transport of materials, permits, or the travel of professionals can increase the price. And, above all, the geographical and territorial delimitation of the archipelago. In fact, the new construction homes offered in the province of Tenerife have a similar price, or even higher, than some of the main provinces in Spain such as Alicante or Valencia. The advantage is that the quality and features are higher. Even the lowest prices of new construction homes in Tenerife offer a garage and storage room, common areas, and are usually well located near the sea.
The quality of these features, the materials, the size of the home, the finishes, and the extras like a pool, garden, or outdoor courts, definitively mark both the supply and demand. Furthermore, the employment situation of the municipality, the quality and extent of the nearby beach, also vary the price, increasing it if it is located near natural areas and places.
In recent years, foreign investment has become a decisive and fundamental role in setting the price, architecture, and materials. The new profile of high purchasing power Europeans are very environmentally conscious, have a more modern air, and prefer to choose some things almost "à la carte" or make modifications to the plan.
What is the new construction real estate market like in the province of Tenerife?
For the province of Tenerife, new developments represent an increase in the active working population, an economic and, above all, touristic opportunity. Although those who acquire them may not occupy the home all year round, visits to their properties or the option of vacation rentals, represent an increase in housing options for visiting the islands.
This type of new residential complex that offers a myriad of services within the facilities is aimed at a non-resident and European audience with high purchasing power. Natives of the islands can choose other cheaper options and in other locations by knowing the province firsthand.
The construction and sale of these developments remains stable over time on any of its islands, due to limitations. It represents a boost and a professional and economic movement, as well as an impulse to areas that are difficult to access or localities with few inhabitants.
What qualities do new development offer compared to second-hand property in the province of Tenerife?
The market for new properties is largely focused on foreign or off-island buyers. The security and confidence provided by a real estate or construction company is one of the fundamental pillars for choosing this type of property. Investors or property owners seek agility in management and efficiency throughout the process. Buying a new home, choosing some materials, or making modifications are guarantees that are within reach of new construction projects.
Properties of this type are concentrated in areas close to the coast, in privileged locations, and with rising prices. They are not usually located in densely populated or industrial or commercial areas. In addition, new materials with low environmental impact, greater energy efficiency, and even solar panels or private security are highly valued extra services. Such as common areas with green spaces, good night lighting, gyms, or paddle tennis courts.
Where to buy new developments in the province of Tenerife?
More than 90% of new developments are concentrated on the main island, Tenerife, the largest of all the Canary Islands. Due to their small size and topography, it is very difficult to obtain permits to occupy undeveloped spaces in La Gomera and El Hierro.
Something very similar happens with La Palma, its volcanic and protected relief makes it almost inaccessible. Despite this, there are currently a couple of active projects with starting prices around 80,000 euros up to 150,000.
In Tenerife, apartments with very modern aesthetics and a garage and storage room included predominate. These are very well-finished residential properties, with a minimalist style, and infinity pools, and located near any beach on the island. From 60,000 euros, it is possible to acquire a 75-square-meter home in La Orotava. In Arona, prices start to rise from 70,000 for 72 square meters. The average price is located in San Miguel de Abona for 220,000 euros for a property with an 86-square-meter terrace.
The most expensive homes are independent villas costing more than 300,000 euros. In the areas of Los Realejos and Guía de Isora, luxurious properties are located with prices that can reach up to 2,000,000 euros for a new luxury detached villa with 3 bedrooms and 300 square meters.