Elodie Casola

Phases 1 and 2 of our Las Terrazas Luxury Apartments Sell Out as Sales Continue to Grow

Las Terrazas luxury apartments
Las Terrazas luxury apartments

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.

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