“Apartment 50 meters from the sea”
At 50 meters from the sea, in an extremely quiet location, with all services available, but away from mass tourism and large hotels.
Cost of the property is 110 thousand euros, completely to renovate, 65sqm, living room with open kitchen, large bedroom and bathroom with tub.
The owners wanted a few customizations such as an open shower in the bedroom and a TV in the bathroom across from the tub to enjoy maximum relaxation.
Final price including complete furniture and renovation:
140 thousand euros
not less than 200 thousand euros.
If rented to tourists at an average price of 80€ per night it could yield around 1,500€/2,000€ per month for 12 months a year.
Since there is no low season in Tenerife, they would have an income of 18,000 to 24,000 euros, or a gross annual return of between 12% and 18%, after deducting management expenses (utilities, cleaning, maintenance).
the net return is still greater than 10% per year.
Property taxes are not particularly high, on the contrary they are very low: for this apartment, for example, they amount to less than 300€/year.