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Candelaria

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Real estate insights for Candelaria

AspectSummary
Gross YieldEstimated between 5-7% depending on location and property type.
Rental DemandModerate demand, with seasonal spikes due to tourism.
Average Rent PriceApproximately €800-€1,200 per month for a 2-bedroom apartment.
Vacancy RatesAround 8-10%, higher in off-peak seasons.
Tenant Turnover RateApproximately 25% annually.
Operating ExpensesTypically 20-30% of rental income, including maintenance and property management.
Regulation and Rent ControlLimited rent control, with focus on tenant protection laws.
Furnishing/Unfurnishing RateAround 60% of rentals are unfurnished.
Short-Term vs. Long-Term Rental MixAbout 40% short-term, 60% long-term rentals.
Local Economic IndicatorsSteady economic growth but subject to fluctuations in tourism.
Rental Price TrendsPrices have increased by 3-5% annually over the past few years.
Lease TermsCommonly 11-12 months for long-term rentals.
Deposit RequirementsUsually one month’s rent as a deposit.
Utilities and Other CostsAverage €150-€250/month for utilities (electric, water, internet).
Safety and SecurityGenerally safe, with low crime rates; some districts may vary.

Candelaria FAQ

  • What amenities affect the rental price of properties in Candelaria?

    The rental price of properties in Candelaria is influenced by several key amenities. Proximity to the coast significantly raises rental values, as properties with ocean views or easy beach access attract tourists and residents alike. Access to public transportation, such as bus routes that connect to larger cities in Tenerife, also plays a critical role; properties near bus stops or tram stations typically command higher rents. Additionally, the availability of local services like supermarkets, healthcare facilities, and schools can impact prices. For example, rentals near the well-known shopping centers or those close to schools often see increased demand. Recreational amenities, like parks and sports facilities, also contribute to higher rental prices, as families and active individuals seek convenience in their living environment. Properties with modern upgrades, such as air conditioning or renovated kitchens, are often priced higher than older, less updated options, reflecting a tenant's willingness to pay for comfort and convenience.

  • What is the average rental price for apartments in Candelaria?

    The average rental price for apartments in Candelaria typically ranges from €600 to €1,200 per month, depending on the size and location of the property. A one-bedroom apartment in the town center may cost around €700, while larger two-bedroom apartments can lift that figure to about €900. Sea-view properties or those in particularly desirable neighborhoods like Playa de las Arenas can command higher rents, often reaching €1,200. Those looking for more affordable options might find studio apartments on the outskirts starting at approximately €500, although these tend to have fewer amenities. Prices can also fluctuate based on the season, with potential increases during the tourist high season in the summer months.

  • How do rental prices in Candelaria compare to nearby areas?

    Rental prices in Candelaria are generally more affordable compared to nearby areas like Santa Cruz de Tenerife and La Laguna. For instance, a one-bedroom apartment in Candelaria averages around €600 per month, whereas the same property in Santa Cruz can command prices averaging €750. This trend is particularly notable for larger properties; a three-bedroom apartment in Candelaria can be found for about €900, while similar accommodations in La Laguna typically go for around €1,100. Factors such as proximity to the coast and local amenities influence these rental prices significantly, with Candelaria's more laid-back atmosphere appealing to those seeking a quieter lifestyle. Additionally, while Candelaria boasts various shops and restaurants, the bustling urban centers of its neighbors offer a different lifestyle, which can also be a driving force behind the price differences.

  • What factors influence the rental prices in Candelaria?

    Rental prices in Candelaria are influenced by a variety of factors, including location, amenities, and seasonality. Properties situated close to the coastline or with ocean views tend to command higher rents due to their desirability. The presence of local amenities, such as schools, shops, and public transport, plays a significant role; areas with easy access to essential services generally attract more tenants, pushing prices up. Additionally, the type of accommodation influences pricing, with modern apartments featuring updated facilities often listed at a premium compared to older buildings. Seasonal fluctuations also impact rents, particularly in the summer months when tourist demand increases, leading landlords to adjust prices accordingly. Lastly, economic conditions and the overall real estate market trends in the Canary Islands can further exert pressure on rental prices in Candelaria, as changes in demand can lead to shifts in pricing strategies by landlords.

  • Are there any seasonal changes in rental prices in Candelaria?

    In Candelaria, seasonal changes in rental prices are quite noticeable, particularly influenced by tourism patterns. During the summer months, especially from June to September, rental prices tend to increase significantly due to the influx of tourists looking to enjoy the coastal attractions and favorable weather. This is evident in properties close to the beach, where weekly rates can escalate by as much as 30-50%. Conversely, during the off-peak months, such as November through February, prices often drop as demand decreases, with potential savings for long-term rentals. For instance, a beachfront apartment that might rent for €1,200 in July could be available for around €800 in January. Additionally, local events and festivals can also influence short-term rental prices, with spikes occurring during the Virgen de Candelaria celebration in early February, as visitors flock to participate in the festivities.

  • What types of properties are most commonly rented in Candelaria?

    In Candelaria, the types of properties most commonly rented include apartments, townhouses, and some villas, making the area attractive for both locals and tourists. Many of these apartments are situated near the coastline, offering stunning sea views and accessibility to beach amenities. One-bedroom and two-bedroom apartments are particularly popular among small families and couples. Townhouses, often found in the more residential districts, provide more space and are frequently rented by longer-term residents. Additionally, some villas with private pools appeal to those seeking a more luxurious experience, especially during peak tourist seasons. Properties with outdoor spaces, like terraces or gardens, are also in demand, reflecting the local climate and lifestyle preferences.

  • How can I find out the rental prices for specific neighborhoods in Candelaria?

    To find rental prices for specific neighborhoods in Candelaria, you can start by using online real estate platforms such as Idealista or Fotocasa, which list various rental properties along with their prices and characteristics. These sites allow you to filter searches based on neighborhood, size, and type of property, giving you a clearer picture of current market rates. Additionally, browsing local classifieds and social media groups focused on Candelaria can provide insights and potentially uncover properties not listed on mainstream websites. Visiting the neighborhood in person and checking for “Se Alquila” (For Rent) signs can also yield up-to-date rental information. Speaking with local real estate agents who specialize in Candelaria's market may provide more nuanced details on rental trends and average prices in areas like Playa de las Arenas or Santa Ana.