“Buying Real Estate in Tenerife: A Guide for Czechs Looking for a Warm Haven”

In recent years, the Canary Islands, especially Tenerife, have been on the radar of Czechs looking for real estate somewhere warm. Either as an investment or for own housing. The great attraction of these North Atlantic islands is the year-round pleasant weather. “The temperature at night does not go below 16 degrees all year round and does not rise above 35 degrees Celsius even on the hottest summer day,” says Vlastimil Hájek from the real estate agency TenerifeReal. Property can be purchased in Tenerife cheaper than in Prague, including a pleasant bonus – the beach right next to the house. Czechs liked the Canary Islands as a holiday destination a long time ago, with the ongoing war in Ukraine and its consequences in the form of expensive energy, but they also began to think of it as a long-term refuge. “When the bombs started falling in the west of Ukraine as well, people in Košice started to think about where to run,” says Hájek in an interview for Newstream.

Why is the Czech Republic attracted to buying real estate in Tenerife?

We have incredibly stable weather here. Many properties have neither air conditioning nor heating because there is no need for it. The temperature does not go below 16 degrees at night and does not go above 35 degrees in the summer. No visas are needed, you just need to fly in on your passport and get a residence card. Availability is perfect. Both from Europe and America. You’re here by five, six o’clock.

What about membership in the European Union?

As part of Spain, we are part of the European Union. However, there is an autonomous government that obeys (and sometimes doesn’t) orders from Madrid.

Is Tenerife expensive?

At all. We have a VAT of seven percent here compared to the standard European 20 percent. It is cheaper here than in Prague.

You founded real estate on the island a year and a half ago. How do you start a business in the Spanish environment?

Here they all worked and actually still work in the “mañana” style. Mainly take it easy, sell three properties a year, where to chase. No proper system or advertising. Indeed, no billboards, no stickered cars. Nothing. I came to Tenerife from Florida in the US, where I was in the real estate business, and we still hold a stake in a real estate agency there. When I brought the system used by every average real estate agent in the US to Tenerife, our business exploded. In that year and a half, we sold 140 properties with 11 agents, no one here achieves such results.

Real estate prices shot up to double

What helped you the most?

We opened at the perfect time. The beginning of the war in Ukraine came, and with it a long winter in Europe. When the bombs started falling in the west of Ukraine as well, people in Košice started to think about where to run.

What is the biggest competition for Tenerife? Dubai? Mainland Spain?

Dubai is pretty sold out now. It’s a little warmer and there’s a lot of that shiny tinsel. Many of our friends are there and are happy there. But it’s not for everyone.

How does the island lifestyle differ from that of Prague?

This cannot be compared to gray Prague from October to April. Every day we are at the beach, where there are endless possibilities for water sports. There are many hiking trails in the mountains. In the north of the island, we go for mushrooms and in two hours we are already lying on the beach. On this island alone, there are three zoos, water parks, simply a lot of opportunities for enjoyment.

A house on the beach for the price of a new studio apartment in Prague

Where does your clientele come from?

They are mostly Czechs and Slovaks, let’s say 90 percent. The ratio of Czechs and Slovaks is roughly 50 to 50. We are also targeting the English and Germans more recently, we see that more of them are coming to our website.

Are they buying mainly for their own housing or business?

That’s also half and half. Half buy it for business and half the people want to live here.

REPORT: In Thailand, Red Bull costs seven crowns. And it’s a beautiful country too

Enjoy

Thailand used to be a backpacker’s paradise. After the pandemic, however, it opened to all tourists, which is also helped by direct flights from Prague to the province of Krabi. It’s worth it? Definitely yes.

Stanislav Sulc

Read the article

What prices should potential buyers prepare for?

The prices of some apartments have even doubled in the last year. They are still similar to prices in Prague. In the south of the island, popular with tourists, there are investment one-bedroom apartments priced around 200,000 euros (4.7 million crowns), where you can charge 70 to 100 euros per night. But these are sold very quickly. Two-story terraced houses cost 400 to 500 thousand euros. Today, it is more difficult to find a villa for a million euros, but with a bit of luck it is still possible. Above all, the potential income is much higher here than in Prague.

What income can be achieved with a short-term rental?

Easily up to 15 percent. We take 20 percent of the profit for complete management and guarantee clients that their property will be rented 11 months a year.

Czechs are buying luxury apartments in Thailand. It costs less than a studio apartment in Ústí

Reality

Many Czechs have already fulfilled their dream of owning a house in Malaga, Croatia or Tenerife. Now their dreams are heading further afield. Thanks to direct flights, but also for the stable climate and security situation, more and more Europeans desire a house in Thailand. And it also applies to the Czech Republic, although it is somewhat more complicated with property ownership in Thailand.

can, pej

Read the article

Stanislav Šulc: Thailand or Egypt? Forget it. According to foreign experts, the cheap Czech Republic is a paradise for senior citizens

Opinions

For many domestic seniors, a permanent vacation in Thailand or Egypt fulfills the idea of ​​an ideal retirement. Hot beaches, a supply of quality food and no worries. Paradoxically, for pensioners from most countries, another country belongs to the perfect places to spend their retirement: the Czech Republic. At least that’s according to the ranking of Bedekr Enjoy Travel. Despite some doubt about the source, there is something to it. Don’t you believe? Here are the main arguments for why the Czech Republic is sixth in this ranking and why most of the top ten countries are located in Europe.

Stanislav Sulc

Read the article