Despite the negative effects of the Covid-19 pandemic on the property market as a whole, Tenerife’s property market is experiencing substantially increased interest in 2021.
There are various contributing factors towards this uptick in interest. For some, it is simply a response to having suffered the negative experience of a prolonged period of lockdown in the cold and grey of northern Europe – and possibly having more time on their hands to explore their dream of a move to the sun.
However, a major trend is developing, which has been caused directly by lockdowns and social distancing. In the UK, according to the Office of National Statistics, nearly 36% of employees now work from home on a part-time or full-time basis. This is a huge jump from the figures for previous years. This trend is likely to continue/expend, as larger employers are nearly all looking to expand home-working, regardless of a possible end to the Covid-19 pandemic.
Technology is also playing its part in aiding that trend. The vast majority of homes now have a fast broadband or fibre internet connection, whilst cloud-based servers, plus programs and apps like Zoom, Teams, Meetme, Skype and Whatsapp Video Chat provide seamless solutions for employees to keep in touch or attend meetings, presentations, training courses and conferences remotely.
Unsurprisingly, this has left many employees asking themselves “If all I need to work is a phone line, internet connection and a laptop, why can’t I do it from somewhere more enjoyable than cold and grey London, Manchester or Glasgow?
According to several estate agents in Tenerife, enquiries from such employees looking to escape and work in the sun has increased markedly during late 2020 and early 2021, despite the current prohibition on non-essential travel between Spain and several northern European countries.
As more and more northern European workers begin to achieve that dream and start working successfully from Tenerife, other colleagues will doubtless follow suit, no doubt motivated by the envy of seeing their fellow workers answering the phone in a pair of shorts whilst sitting by the pool.
Staying connected with one’s home country is hardly a problem these days either. Most major European countries operate several flights a week to and from Tenerife, whilst courier companies such as DHL provide 2 – 3 day delivery options for documents or business samples etc.
For potential buyers and investors, this is perhaps the best time in over a decade to snap up a property in Tenerife. The Covid pandemic has obviously had a pronounced effect on the property market, leaving buyers in the driving seat and discounts are generally achievable on all but the most popular properties. With relatively low property taxes and among the lowest cost of living anywhere in the European Union, workers earning a typical UK, Irish or northern european salary can live like a relative king in Tenerife.
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For those wanting more information on the benefits of living and working in Tenerife, check out the following article: https://tenerifeguru.com/residents/why-tenerife/
To find out the latest information about applying for residency in Tenerife, click HERE