Phases 1 and 2 of our Las Terrazas Luxury Apartments Sell Out as Sales Continue to Grow
More terrific news coming out of the Abama Luxury Properties offices: sales of homes in our community have experienced a 100% increase in 2015 compared to 2014, with the greatest demand centering on our Las Terrazas luxury apartments.
Phases 1 and 2 of our one- to three-bedroom luxury flats have achieved 100% and 95% sell-out, respectively, and more than 44 units have been sold overall from our range of homes including apartments, turn-key villas, plots and custom-built properties.
A new report published by HVS following the Mediterranean Resort & Hotel Real Estate Forum has indicated that Tenerife presently receives almost 65% of all visits to the Canary Islands and has experienced a steady growth in hotel occupancy since 2008. Even more interesting for our community of luxury apartment and home owners, there is a growing demand on the island for luxury hotel stays and exclusive accommodation.
In line with these findings, Abama’s holiday occupancy rate has been about 70% this year, where it was 56% in 2014. With 30% of our real estate leads coming from direct hotel referrals, we are optimistic that our growth and sales trends will continue in 2016 as we open sales for Phase 3 of our luxury flats and release an exciting new product in the coming weeks. Moreover, we very much look forward to extending a warm Abama welcome to our new residents when the Phase 2 Las Terrazas luxury apartments are delivered in December 2016.