Another week and another bargain Tenerife property. If a are a regular subscriber to our Tenerife Property Blog you will have seen the distressed sale 2 bed detached villa in Torviscas Alto, Tenerife for a bargain €170,000.
If you thought that was a steal then this is even better. A 4 bedroom detached house on the same complex has just come up for a quick sale. The owner has knocked off another €100,000. So, what would you expect to pay for a 4 bedroom house in the middle of the south of Tenerife? €450,000? €500,000? What about €282,000!!!!
Thats a pretty unbelievable price. If you are sat waiting for the real bargains to appear and really want to pick up a distressed sale, take advantage of the credit crisis – this should be the kind of thing you are looking at.
It has been on the market previously for €450,000 so that is a massive saving of €168,000.
The villa rental market here is booming and this is well-placed and much sought after rental property on a popular complex. Long term rental is low maintenance and would bring in at least €1,400 per month for this type of house.
- Buy for €282,000 cash (plus 10% costs, approx. €28,200)
Or
- With an 80% mortgage (€225,600) and €56,400 cash (plus 11% costs, approx. €31,020)
Mortgage of approx €560 per month interest only. - Consult our Tenerife Mortgage Calculator for further details
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