This has to be one of the best reduced price property bargains in Tenerife.

A two bedroom apartment of 63m2 in the popular Canarian town of Cabo Blanco. We have said before but will say it again, your money goes so much further when you are buying from Spanish agents at “local prices”. These towns and villages are set on the periphery of the large resorts of Los Cristianos and Las Americas and a great place to pick up a cheap, well specced apartment to come here and live in.

These properties are a great purchase for those looking to relocate to Tenerife and are true credit-crunch busters. It has been a hell of a long time since you could pick up a quality 2 bed apartment in Tenerife that didn’t need completely gutted. We are talking STUDIO prices here so these represent truly outstanding value for money.

Cabo Blanco is a great base for a working family with easy access to the main resorts of Los Cristianos and Las Americas where many will be travelling into work. It also has good public transport links, bars and cafes and a large supermarket – always handy.

We have put together an exceptional mortgage deal on these apartments. Up to 40 years interest only at 65%. This means a mortgage of only 45,500€. The monthly payments will be an ultra affordable €115 per month!!! This is easily much cheaper than renting (although the rate is variable even if the Euribor shoots back up to last years high of 5.5% you will still only be paying €260 per month.

In addition to being great little family properties that wont break the bank, these will also make fantastic buy-to-lets given the ultra-low mortgage payments. Two beds of this standard in this area will bring in around €475 per month. Easy, low maintenance profit and the type of property that will make you a very decent capital return when the markets recover. Maximum lending on these is 80% and we have outlined the costs using an 80% mortgage below but for the money the 65% mortgages allow the best returns due to the full term interest only element.

• Buy the two bed for €69,990 cash (plus 10% costs, approx. €7,000)

Or

• With an 80% mortgage (€56,000) and €14,000 cash (plus 11% costs, approx. €7,700)
  Mortgage payments of approx €132 per month interest only or €230 per month capital repayment.
  
• Consult our Tenerife Mortgage Calculator for further details

SOLD