Tenerife was once synonymous with cheap package holidays and unsightly high rise tower blocks.
Lately, however, the volcanic paradise isn’t just a place where baby boomers go to burn – it’s also where they go to buy.
According to Spanish Property Insight, the Spanish property market has grown 23 per cent since 2015 – the highest rate since 2008. Visitor numbers are also up 36 per cent from 2015 and golf plays a major part – not only from a sporting perspective, but its ample courses also guarantee that properties retain ample solitude and impressive views.
It’s no wonder, then, that Abama Luxury Residences, on the southern slopes of the Pico of Teide volcano, is proving so popular, surrounded as it is by banana plantations, palm-tree laden hills and hidden beaches with sheltered lagoons.
The 160 hectare site comprises a Dave Thomas 72 par golf course built in 2004, alongside the resort’s centrepiece, the Ritz Carlton Abama hotel. This deep red Moroccan style citadel houses nine swimming pools, ten restaurants, a private beach and no less than seven tennis courts. Organised into loose plots, La Terrazas, Bellevue II, and Le Casas Del Logo, each have their own distinctive take on Tenerife’s landscape.
Set directly above the striking main hotel complex, yet high enough to afford unbroken views of the sea, Las Terrazas is spread over three phases, the first two of which have sold out. Phase III will be complete in December 2017 and the allotted properties are already 50 per cent sold. Built in a traditional style similar to the main complex, the one to three bedroom plots offer clean lines, wide balconies and even outdoor jacuzzis – not bad for around €400,000.
The big buyers, however, can be found in their own leafy suburb, named the Bellevue Villas. They’re about as far away from high rise tower blocks as you can get; the six three to four bedroom detached and semi detached residences are built in a style reminiscent of 60s Hollywood suburbia, mixing raw concrete with local wood, slanting indoor roofs and well developed gardens. They boast Hollywood price tags, too, ranging from €1.35m to €1.75m.
My final stop was the Las Casos Del Lago development. Away from the tradition of Las Terrazas or the quirkiness of the Bellevue, these six detached, two to three bedroom villas are designed by local architect (and celebrity, apparently) Leonardo Omar. And they’re all unexpectedly futuristic with angular white walls, slabs of tinted glass and some of the largest pools on the resort. Prices vary from €930,000 to €1.3m.
But if you’re more hands on, you can just buy your own custom villa plot from €285,000.
And you won’t have any trouble letting it out, either, as Abama’s rental market is booming. Properties are typically let from €450 to €1,200 a night year round, with the region experiencing its high season from April to October.
As I’m about to leave, I’m told an amusing anecdote about the time a Saudi princess tried to kidnap the gardener. And if that doesn’t convince you of Abama’s – and by extension, Tenerife’s – luxury credentials, then I don’t know what will.
For more information email Maria.Roman@Ritzcarlton.com or visit abamahotelresort.com.