Hello all,
We have put down a small deposit on an apartment in Las Terrazas in Playa De Las Americas with intention to rent out,(does anyone know this apartment block) but reading your comments it would appear things are a little uneasy regarding rental,do we commit ourselves with the apartment or just go ahead with a purchase of a Villa to live.

It depends on whither the money from rental is needed to fund the villa or not. If you are relying on rental income forget it but if its for a little extra each month that you can do without why not, as the area is very central and you should get lets say 20/26 weeks rental. If you are buying at the moment I would be looking at least 20% off the asking price if you dont get it walk away there are plenty more on the market, you want to buy it as cheaply as possible to allow you an out if you decide to sell, remember the tax position.....

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Want to play some competitive fun Golf in Tenerife ?

http://www.peanutsgolf.co.uk....

Betty, this is such a difficult question to answer as it depends so much on your own circumstances. How much will you have to borrow to fund this buy to let - how easily can you pay those borrowings if you do not get regular rentals? I'm not asking your age, but are you thinking of buying an extra property as part of a pension pot. I think all agree we are heading into a world wide recession and now is not the time to make speculative purchases unless you are very sure of your funding or know you are getting a superb bargain.

I think sog and doreen have answered the question its all about your own circumstances. Before deciding purchasing do your research as you want to let how easy is it to let on that complex look in www.holidaylettings see if you can find properties in the complex look at the calenders contact owners ask them how they get on.
Renting is all about location location i would not for example buy by the roadside or above a bar these are harder to let in this climate you just have to be more carefull and if you still want to go ahead as sog said try a offer you never know you may get a bargain. David

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Apartments to rent in Cristian Sur Tenerife Sur and San Marino http://www.tenerifeapartments.net
http://www.cristiansurapartments.comfor you air conditioned holiday apartment in the Cristian Sur complex

Thank you all so much for your replies,it is such valuable information. Just in answer to the finance, we would not need to borrow as we are selling up in u/k but we would like a bit of spending money from renting out an apartment and I appreciate your comment regarding to offer 20% less when we go for a Villa
as our home. Thank you again.

You are very welcome Betty, it's what we are here for. Don't rush into buying with the first agent - there is so much property on the market, take your time & identify where you would like to live. Cash buyers really do hold all the aces

If you decide to walk away from the apartment, and find a villa with the same agent, it might also be worth considering asking that agent if they will transfer the deposit ... it will save losing it. Most sensible agents will be flexible at the moment because they really need sales.

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Janet Anscombe Associates
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Thank you for that Janet, thats worth a mention.

Apartment rental isn't too hot at the moment. We've seen a decline in the last couple of years from 80% occupancy in our first year. Winter/early spring is the best time but we get a lot of snowbirds who don't want to go to PDLA.

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www.mikeandmaureentenerife.co.uk
Nice apartment in Golf del Sur. Website designed by Princess's HRH (thought I'd slip in a bit of advertising for him!!)

From the visitor standpoint...I came over with just one week booked and have just got the second for 185 euros....Short term 1 bed nice terrace....It´s a bargain basement at the moment just hope it improves for the property owners amongst you!
In Los Cris.....

p.s. Heard Las terrazas is nice if it means anything!!

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Age is not a particularly interesting subject. Anyone can get old. All you have to do is live long enough.
Groucho Marx
(1890 - 1977)