Posts from — February 2009

2 Bedroom ground floor apartment in Biltmore, Jardin San Miguel, Las Chafiras, Tenerife. Master bedroom en-suite, garden, 2 communal swimming pools, sun terraces. URGENT SALE – BARGAIN PRICE!!!  110,000€, Fantastic buy-to-let potential.

You will not find an apartment of this type, at this price on any other website in Tenerife – this is a one of a kind offer!

These apartments have recently been sold for over 145,000€ and will value upwards of that figure. We thought we had found the best possible 2 bedroom apartment earlier this week with the distressed sale of the 2 bedroom apartment in San Isidro

That one is now on the market for 120,750€ – a bargain! BUT we have beaten that price and now have this one available for only 110,000€!!! This apartment is absolutely brand-spanking new and has never been lived in. The Biltmore complex in Las Chafiras is a great community and very popular with expatriates from many European countries. It has two communal swimming pools, sun lounger areas, elevators, security, controlled access and is close enough to pretty much everywhere you would want to go in the South of the island. What really sets these complexes apart though are the low community fees, they are less than a third of similar apartments and make a huge difference to your overall cost of living.

They are very popular long term rentals and given the amazingly low price of this one we are able to say once again this is “Buy-to-let positive!!!” Rental income on 2 bedroom apartments in this area varies between €550 and €750 per month, far higher than mortgage repayments:

• Buy for €110,000 cash (plus 10% costs, approx. €11,000)

Or

• With an 80% mortgage (€88,000) and €22,000 cash (plus 11% costs, approx. €12,100)
  Mortgage of approx *€238* per month interest only or €383 capital repayment.
• Consult our Tenerife Mortgage Calculator for further details

Large 2 bedroom corner apartment in the new up and coming West side of San Isidro, Tenerife. Very spacious at 90m2 and has an additional 45m2 private rooftop solarium and your own underground parking space.

Originally reduced from 152,000€ down to 137,500€, the owner has reluctantly had to reduce the price again and really wants a quick sale. As such, it is now available at a knock-down 120,750€. Make no mistake – this really is a bargain.

Being valued upwards of €152,000 you will not find one cheaper than this, plus this is one of the sought after corner apartments. The open plan design has been well thought out, with lots of natural light and huge windows which give fantastic views in several directions.

The finishing is of a surprisingly high standard. Both bedrooms are full, double rooms and the master bedroom is en-suite with it s own jacuzzi and separate shower.

The entire area has had tens of millions pumped into it recently with a new access road leading directly to the south motorway. A brand new shopping mall has just opened in the town and there are now two large, national supermarkets present as well as plenty of bars, restaurants and other shops. Bar and restaurant prices are “local” rather than “tourist price” meaning you can live here very comfortably, eat out regularly etc without breaking the bank.

The beach resort of Medano is a 5 minute drive, straight down the road and is a nice place to visit at the weekends. The airport is a few kilometers East and Los Cristianos/Las Americas, 15 minutes to the West. The town is sizeable enough to support its own economy and continues to grow at a rapid pace giving a good 5 to 10 year exit strategy should you wish to sell on.

The apartment is fully furnished – you could move in immediately or rent it out. The rental market in this area is for long lets to young professionals, 30 somethings etc and this apartment will rent out for between 550€ and 750€ per month. This makes the apartment “Buy-to-let positive” – the rental income more than covers even an 80% repayment mortgage.

• Buy now for 120,750€ cash (plus 10% costs, approx. 12,750€)

Or

• With a 80% mortgage (96,600€) and 24,150€ cash (plus 11% costs, approx. 13,282€)
  Mortgage of approx *261€* per month interest only or 420€ per month capital and repayment.
• Consult our Tenerife Mortgage Calculator for further details

4 bedroom country house in Guia de Isora, Tenerife. 4 large bedrooms, 3 bathrooms, PRICED TO SELL – MAKE AN OFFER!

This property was valued at over €500,000, 3 years ago.

The owner is keen to sell and has reduced the price to €350,000 , a saving of €150,000.

The property is sold unfurnished – and in addition to the house there is a separate apartment which could produce Rental income.

• Buy for €350,000 cash (plus 10% costs, approx. €35,000)

Or

• With an 80% mortgage (€280,000) and €70,000 cash (plus 11% costs, approx. €38,500)
  Mortgage of approx €760 per month interest only.
• Consult our Tenerife Mortgage Calculator for further details

1 bedroom apartment in Club Paraiso, Playa Paraiso, Tenerife. 1 double bedroom, balcony, fantastic sea-views DISTRESSED SALE!

These apartments value at between €120,000 and €135,000 and are well worth a look. Up and coming area in a fully refurbished complex. This one is the pick of the bunch and is a real steal at only €87,500.

It is fully furnished – you could move in immediately or rent it out immediately. Rental income on 1 bedroom apartments in this area varies between €480 and €580 per month for long term and €2o0 to €350 per week  on the holiday rentals market.

• Buy for €87,500 cash (plus 10% costs, approx. €8,750)

Or

• With a 70% mortgage (€61,250) and €26,250 cash (plus 11% costs, approx. €9,625)
  Mortgage of approx *€175* per month interest only.
• Consult our Tenerife Mortgage Calculator for further details

Detached villa in Torviscas Alto, Tenerife. Two en-suite bedrooms on one of the better complexes in Torviscas makes this reduced property a steal at only €170,000.

It has been on the market previously for €231,000 and is well worth viewing if you are looking to take advantage of the credit crunch induced “buyers market” in Tenerife.

• Buy for €170,000 cash (plus 10% costs, approx. €17,000)

Or

• With an 80% mortgage (€136,000) and €34,000 cash (plus 11% costs, approx. €18,700)
  Mortgage of approx €385 per month interest only.
• Consult our Tenerife Mortgage Calculator for further details