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The Canarian High Court has backed the local authorities in their plan to pull down dozens of houses built too near the coast in Candelaria .

Objections to the demolition of 23 homes in the Cho Vito coastal district of the town have been dismissed by the Court, which says the Spanish government is acting legally in enforcing orders to recuperate the coastline.

The residents, some of whom have lived in their houses for over 60 years, say they have yet to receive formal notification of the ruling and will take further steps to fight the plans.

(21.4.08)
Price falls of between 2% and 6% have been seen, especially in the South.

Value It, the Santa Ursula based publisher of The Tenerife Property Price Guide, today releases the results of its survey of Tenerife property prices, showing falls in prices for the three regions of Tenerife, (the South and South East, the North, and the Metropolitan region).

During the last six months, property prices have fallen by 3,48% in the South and South East (from Candelaria around the coast to Santiago del Teide). In the North, prices have fallen the least, by 2,64%, and in the Metropolitan region (Santa Cruz, La Laguna, El Rosario and Tegueste) prices have fallen by 3,27%. When general inflation is taken into account (2,1% over the last six months) the real falls are 5.6% in the South, 4,7% in the North and 5,4% in the Metropolitan region.

John Gardner of Value It commented: “These are averages for these regions, and are based upon a survey of 6250 properties for sale. Within each region there have been greater falls in some areas and for certain property types, and a few areas are level with inflation or still seeing prices rise.

Puerto de la Cruz has seen falls below the average for example, while the falls in Adeje are consistent with the southern region as a whole. The answer for people looking to buy in Tenerife is thorough research and knowing the pricing trends in the areas and for the property types. There is no substitute if you want to buy well and protect your investment. For those thinking of selling they can work out what would be a good or competitive price to ensure that they attract serious buyers”.