Reduced price properties in Tenerife are coming in thick and fast. 2009 is shaping up to be the year of bargain property in Tenerife!
Following on from our last listing which showed an amazing 3 bedroom bargain Tenerife property for 105,000€ we continue along the theme of finding the bargains outside of the touristic areas . Looking at the outlying Canarian towns such as Valle San Lorenzo and San Miguel de Abona we can find some very attractive reduced price property. Your money goes much, much further when you are buying from Spanish agents at “local prices”. Thankfully we have a number of Spanish agents who we work with so can bring these excellent prices to expatriate buyers.
These properties are ideal for families looking to relocate to Tenerife. The most common mistake people tend to make when moving to Tenerife is that they spend way too much money. The either use up far too much of their savings on a property or they take a mortgage whose monthly payments are far too high.
These Canarian towns can solve this problem – here we have a two bedroom apartment in the popular town of Cabo Blanco for only €88,000. Close to Wingate School, Cabo Blanco is ideal for a working family with easy access to the main resorts of Los Cristianos and Las Americas where many will be travelling to work. It also has good public transport links, bars and cafes and a large supermarket – always handy.
Obviously the main attraction is the low, low price which will leave you plenty of money tucked away in your savings account. Mortgage payments will be easily affordable – cheaper than renting in many cases and the properties will also make good buy-to-let investments. You can also pick up the one-bedroom apartment here for a mere €75,000 – a truly phenomenal price for a property of this quality. So what are you waiting for??!
Both of these properties are ideal for the long-term rental market. Two beds in this are will bring in around €475 per month and the one bed around about €400.
- Buy the two bed for €88,000 cash (plus 10% costs, approx. €8,800)
Or
- With an 80% mortgage (€70,400) and €17,600 cash (plus 11% costs, approx. €9,680)
Mortgage payments of approx €170 per month interest only or €293 per month capital repayment.
- Consult our Tenerife Mortgage Calculator for further details
You want something even cheaper???
- Buy the one bed for €75,000 cash (plus 10% costs, approx. €7,500)
Or
- With an 80% mortgage (€60,000) and €15,000 cash (plus 11% costs, approx. €8,250)
Mortgage payments of approx €145 per month interest only or €250 per month capital repayment.
- Consult our Tenerife Mortgage Calculator for further details
