Whilst the attractions of owning a holiday home in Tenerife, Canary Islands, Spain are obvious with its year round sunshine, relatively short flights from northern Europe and low tax economy, the property (real estate) market has been at the best depressed in recent years. Tourists are still flocking to Tenerife in their millions so it is obvious this state of affairs will not last for ever and indeed there are a few signs of an up turn.

There are bargains a plenty to be found for the serious buyer, indeed I found a one bedroom apartment (condo) for sale in Costa del Silencio (a popular resort in the south of Tenerife) for just 55,000 euros (about £41,000 or 80,000$), this is less than half the price of a "park home" in the UK and I know what I would rather own! Plus of course there is always the option to rent it out while you are not using it.

In the ever popular tourist resort of Playa de las Americas, Tenerife one bedroom apartments complete with furniture and swimming pool, can be had for just 89,250 euros (about £66,000 or 130,000$). This is a resale property so it can be bought very quickly, which means in days you could be sitting in your very own holiday home and swimming in your very own pool!

If you want to get away from the tourist areas and go ten minutes inland, two bedroom, fully furnished apartments complete with garage can be bought for about 110,000 euros (about £81,000 or 160,000$) in residential areas such as Valle San Lorenzo, Tenerife. Buy a little run around to keep in the garage and you are set up for great vacations for years to come.

Of course the old maxim "you get what you pay" holds true, but if you want to spend just a little more, two bedroom, two bathroom fully furnished and refurbished properties close to the beach and all amenities can be found a plenty. If you want to sit on your balcony and see the ocean this commands a small premium, but they are available.

Obviously being a small island, the supply of land is not going to be never ending so developers concentrate on building small apartment blocks where permission allows and room sizes seem to get smaller by the year. Townhouses and villas can be purchased but prices are far higher. Townhouses are on offer from about 157,000 euros (about £116,000 or 228,000$) and villas from 241,000 euros (about £179,000 or 351,000$).

In which direction will the prices go is the big question everyone asks? Well consider that Tenerife is in a stable part of the world, there is guaranteed sunshine (probably the only European destination that this is so apart from the other Canary Islands), well served by the airline industry and a seemingly never ending supply of tourists and there can only be one answer.