Houses for sale in El Medano

In El Médano, property prices can vary considerably depending on location and property type. As of 2023, the average price per square meter for residential properties hovers around €2,700 to €3,500. For example, a two-bedroom apartment near the beach can be priced from €250,000 to €400,000, while larger three-bedroom properties may range from €400,000 to €600,000. Villas or townhouses in more exclusive areas could reach prices upwards of €800,000. New developments and properties with ocean views tend to command higher prices, adding a premium that can increase costs by as much as 20%. Additionally, rental prices in the area have seen an uptick, reflecting a demand that stays consistent with tourist seasons.

Over the past year, real estate prices in El Médano have seen notable fluctuations, reflecting the broader trends in the Tenerife housing market. According to recent data, the average price per square meter for residential properties has risen from approximately €2,300 in early 2022 to around €2,500 by late 2023, marking an increase of roughly 8.7%. In specific developments, such as beachfront apartments, prices have surged even more dramatically. For example, a two-bedroom apartment that sold for €250,000 last year has now reached upwards of €270,000. On the rental side, monthly rents for similar properties have increased from €1,100 to about €1,250, reflecting a 13.6% rise. Despite these hikes, areas a little further from the waterfront have shown more moderate increases, with average prices moving from €1,800 to €1,950 per square meter, which indicates a 8.3% rise.

Real estate prices in El Médano are influenced by several key factors, including proximity to the beach, property type, and seasonal tourism. For instance, properties within a 500-meter radius of the coastline often command prices reaching €3,000 to €4,500 per square meter, whereas those further inland can drop to around €2,200 per square meter. The demand for vacation rentals also plays a significant role; during peak tourist months, rental yields can exceed 10%, pushing property prices higher as investors seek to capitalize on the lucrative short-term rental market. Additionally, local amenities such as restaurants, shops, and recreational facilities add value, with neighborhoods near the town center seeing an average premium of 15% compared to more remote areas. Market demand is also affected by international buyers, particularly from the UK and Germany, who are attracted by El Médano's climate and lifestyle, further driving up prices.

Property prices in El Medano tend to be significantly higher near the beach compared to inland areas. For instance, beachfront apartments often range from €250,000 to €500,000, depending on their size and proximity to the shore. A two-bedroom apartment with ocean views can sell for around €350,000, while smaller studios might be priced around €200,000. In contrast, properties located just a few blocks away from the beach can be found for considerably less, generally between €150,000 and €300,000. The premium for oceanfront locations is further reflected in the rental market as well, where monthly rents for beachfront properties start at €900, whereas similar homes further from the beach can be rented for as low as €600. These discrepancies highlight the influence of proximity to the beach on property values in El Medano.

The price range for apartments in El Médano typically varies based on location, size, and proximity to the beach. On average, one-bedroom apartments can be found between €120,000 and €180,000, while two-bedroom options generally range from €170,000 to €250,000. For more spacious three-bedroom apartments, prices often stretch from €250,000 to €400,000, especially if they feature ocean views or modern amenities. Additionally, newly constructed properties or those in sought-after locations may command higher prices, sometimes exceeding €500,000. For example, a 70 square meter beachfront apartment listed at €300,000 would reflect the premium for prime locations. Rental prices further illustrate this range, with monthly rates for one-bedroom units around €700 to €1,200, depending on seasonal demand.

Real estate prices in El Medano have shown a notable contrast when compared to nearby areas. As of late 2023, the average price per square meter in El Medano hovers around €2,200, while in neighboring towns like Los Abrigos, prices are approximately €1,800 per square meter. Further inland, in Granadilla de Abona, the cost drops even more to about €1,600 per square meter. On the other hand, more tourist-oriented locations like Costa Adeje exceed €3,500 per square meter, reflecting a premium due to their amenities and proximity to the beach. Additionally, a newly built two-bedroom apartment in El Medano may be priced around €250,000, while similar properties in Los Cristianos or Playa de las Americas generally exceed €300,000. This variation suggests a diverse landscape of property value across the region, influenced by local attractions, accessibility, and market demand.

Current property prices in El Medano, Spain, have shown a notable trend, with average cost per square meter hovering around €2,800 as of late 2023, a slight increase from previous years. One-bedroom apartments in this coastal town typically range from €150,000 to €220,000, depending on proximity to the beach and amenities. Larger two- or three-bedroom properties can see prices between €300,000 and €600,000. The rental market is also competitive; average monthly rents for a two-bedroom apartment are about €1,200. Additionally, properties with sea views tend to command a premium of 10-15%. Overall, the real estate market is influenced by factors such as increased tourism and ongoing infrastructure improvements, making it important to closely monitor trends in this vibrant area.