Puerto de la Cruz has the highest property costs in Tenerife

PRLog (Press Release) – Nov 13, 2007 – Puerto de la Cruz in the north of Tenerife has the highest property costs of the island

Value It España (www.valueit.es), the independent publisher of Tenerife property prices,  today releases its assessment of costs per square metre of Tenerife property by municipality. This is based upon the published selling or asking prices of over 5,500 properties across Tenerife. The figures are given by the three regions of Tenerife, the North and Isla Baja, the South and South East, and the Metropolitan region comprising Santa Cruz, La Laguna, and the north east tip of Tenerife.

The survey from the Value it database reveals the significant differences between costs per square metre for property across the island. San Juan de Rambla is the cheapest area at 1296 euros per square metre followed by Arafo at 1396 euros per square metre.

The most expensive area is the city of Puerto de la Cruz at 2562 euros `per square metre in the north of the island, followed by Adeje at 2435 euros per square metre and Arona in the south of the island of Tenerife.

What is surprising comments Value It “is that the capital Santa Cruz and the historical town of La Laguna have lower costs at 2120 and 1719 euros per square metre respectively. Santa Cruz has scope for price increases especially give the planned improvements for the city and surrounding areas”  

Commented J Gardner of Value It: “these averages are just that, but they are helpful pointers to areas of potential value and they will help people budget. But there is no substitute for detailed pricing reviews by costs per square metre, knowing what the range of costs are for each type of property by each area and zone within these municipalities. That’s how you work out what to pay and what is going to be a good buy. Like anything else if you do your homework thoroughly you will get a more satisfying result.”
                                       cost m2 average
The north of Tenerife   2010
San Juan de rambla   1296
Icod                                 1403
El Tanque                      1430
Buenavista                    1578
Los Silos                        1705
La victoria                       1781
Los Realejos                 1791
La Guancha                   1805
Garachico                       1842
Tacoronte                        1868
La Orotava                       1909
La Matanza                       1991  
Santa Ursula                   2097
El Sauzal                          2219
Puerto de la Cruz            2562
Metropolitan                      2077
Santa Cruz                       2120
La Laguna                      1719
El Rosario                        1796
Tegueste                            2170
South and South East     2185
Adeje                                  2435
Arona                                  2369
Arafo                                  1397
Arico and Fasnia              1576
Candelaria                       1640
Guimar                              1713
Vilaflor                               1555
Granadilla                        1686
Guia de Isora                   1746
San Miguel                       2356
Santiago del Teide          2275

For more information please go to www.valueit.es