Spain and Tenerife Property Repossessions
Distressed sales and repossessed properties with up to 100% mortgages in Tenerife:
Search our interactive repossessions map here
Repossessed 2 bed 1 bath apartment in Marina Palace, Playa Paraiso
Purchase price: 106,000€ (non-negotiable)
Cash needed to buy this property: (inc costs) approx: 10,500€
Valuation: 158,000€
Mortgage Available: 106,000€
A good price for a 2 bedroom apartment on this complex is 158,000€, this one is only 106,000€ a sizable discount – by all means try and find a similar price on this complex before you ask for more details (you won´t even come close…) Make no mistake this is the best bargain on this complex by a long, long way!
Repossessed 1 bed 1 bath apartment in San Eugenio Alto, Tenerife
Purchase price: 112,950€
Cash needed to buy this property: (inc costs) approx: 17,000€
Valuation: 157,000€
Mortgage Available: 107,000€
Easily the most competitive price on this complex by a long, long way. This has just had an incredible 44,000€ price drop!!! Was 157,000€ – now only 112,950€!!! Not only that but there is now also a Tenerife Super Mortgage available for 107,000€ meaning you can buy for only 17,000€ cash down.
Repossessed 1 bed 1 bath apartment in Golf Park, Golf del Sur, Tenerife
Purchase price: 94,100€
Cash needed to buy this property: (inc costs) approx: 16,000€
Valuation: 127,000€
Mortgage Available: 89,000€
Great opportunity to buy a Golf apartment for long term living or ideal for a small deposit purchase for holiday rental. Apartment is 48m2 inside, is in good condition with a fitted kitchen and large spacious balcony on a popular complex.
Repossessed 3 bed 2 bath townhouse in El Madronal, Fanabe, Villas Mirador del Duque
Purchase price: 249,950€
Cash needed to buy this property: (inc costs) approx: 37,500€
Valuation: 325,000€+ (a one bed apartment here costs 185,000€)
Mortgage Available: 240,000€
Brand new property, massive price reduction
Corner plot, with garden around 3 sides of the house
128m2
Garage for 2 cars
Repossessed 3 bed 2 bath luxury townhouse in Los Corales, Los Cristianos
Purchase price: 295,000€
Cash needed to buy this property (inc costs) approx: 44,000€
Valuation: 420,000€ (125,000€ price drop!!!)
Mortgage Available: 280,000€ to 295,000€
Brand new property, huge price drop
Beautiful luxury complex, excellent location in Los Cristianos – if you are waiting for a repossession/bargain price – this is it!!!
Huge 136m2 interior and 69m2 exterior
Selection of 1 bedroom holiday apartments in Playa Paraiso
Purchase price: From 75,000€
Cash needed to buy this property (inc costs) approx: 12,000€
Valuation: From 95,000€
Mortgage Available: 70,000€
We have 10 one and 2 bedroom holiday apartments (there are now only 2 one beds and 1 two bed apartments left) in the Apart hotel complex Playa Paraiso, recently refurbished.
Popular holiday lets and for the long-let market. these are as cheap as they are ever going to get and an excellent opportunity if you are short on capital.
Distressed and repossession property sales in Tenerife with 70% to 80% mortgages
Repossessed/Distressed 3 bed apartment in Chayofa, Tenerife
Purchase Price: 199,950€
Valuation: 260,000€
Mortgage available: 140,000€
Cash required (inc costs) approx 80,000€
Repossessed/Distressed holiday apartment on Ocean View in Adeje, Tenerife:
Purchase Price: 111,500€
Valuation: 140,000€
Mortgage available for residents: 106,000€ (95%)
Mortgage available for non-residents: 84,800€
Special Offer mortgage terms: No mortgage payments for the first 3 years, up to 50 year term, up to age 80, rates from 1.7%.
Recent Sales
Repossessed 1 bed 1 bath apartment in Granada Park, Los Cristianos, Tenerife
Purchase price: 117,000€
Cash needed to buy this property: (inc costs) approx: 13,000€
Valuation: 205,000€
Mortgage Available: 135,000€
Absolute bargain on Granada Park in Los Cristianos. 100% mortgage available. As far as repossessions in Tenerife go, they don´t get a lot better than this . It´s a 1 bed, 1 bath apartment on the second floor. Size is 57m2 and there is a balcony on the first floor. Upstairs there is a 39m2 roof terrace – all day sun! Have a look for another on Granada Park for a similar price – you won´t find one. You can still buy these direct from the builder for 171,000€ without a sun terrace and 205,000€ with a sun terrace (like this one.) that represents a discount of over 85,000€!
This will sell quickly so if you´re interested, you´ll have to be quick.
SOLD
Repossessed 2 bed apartment on picturesque complex, Parque Galeon, Adeje
Purchase price: 139,500€
Cash needed to buy this property (inc costs) approx: 34,000€
Valuation: 205,000€
Mortgage Available: 119,000€
Very spacious(96m2) 2 bed apartment on quite complex in Adeje
Well maintained complex and this is absolutely the lowest priced 2 bedroom apartment you will find there.
SOLD
Repossessed/Distressed 2 bed holiday apartment on Orlando Complex, Tenerife:
Purchase Price: 97,500€
Valuation: 121,800€
Mortgage available for residents: 92,000€ (95%)
Mortgage available for non-residents: 74,000€
2 bedroom holiday apartment on Orlando Complex, Tenerife
Repossession
58m2
Balcony
Communal pool
SOLD
Repossessed/Distressed 1 bed holiday apartment on Orlando Complex, Tenerife:
Purchase Price: 96,900€
Valuation: 148,000€
Mortgage available for residents: 92,000€ (95%)
Mortgage available for non-residents: 74,000€
Huge (72m!) 1 bedroom holiday apartment on Orlando Complex, Tenerife
Repossession
72m2
Balcony
Communal pool
SOLD
Repossessed/Distressed holiday apartment in Los Cristianos Tenerife:
Purchase Price: 67,000€
Valuation: 90,000€
Mortgage available: 51,000€
Cash required (inc costs) approx: 24,000€
SOLD
Repossessed/Distressed 1 bed apartment sale in Playa Fanabe, Tenerife
Purchase Price: 93,000€
Valuation: 126,000€
Mortgage available: 72,000€
Cash required (inc costs) approx 30,000€
SOLD
Repossessed 3 bed 2 bath townhouse in Roque del Conde II, Adeje
Purchase price: 179,950€
Cash needed to buy this property (inc costs) approx: 30,000€
Valuation: 250,000€+
Mortgage Available: 170,000€ to 179,950€
Brand new property, massive price drop
Beautiful prime complex complete with luxury facilities including gardens and pool
144m2 total area
SOLD
Repossessed/Distressed 3 bedroom townhouse in San Eugenio, Tenerife
Purchase Price: 175,000€
Valuation: 249,000€
Mortgage available: 136,000€
Cash required (inc costs) approx 58,000€
SOLD
Repossessed/Distressed studio sale in Parque Santiago Tenerife
Purchase Price: 97,000€
Valuation: 146,000€
Mortgage available: 75,000€
Cash required (inc costs) approx 32,000€
SOLD
Given our close ties with many Spanish banks, we have access to distressed sales and repossessions in Tenerife and the Canary Islands, including Tenerife. Due to the nature of repossessions, buyers need to be able to move quickly so the advantage can be with cash buyers.
However, we have negotiated mortgages with many of the banks selling these repossessed properties in Tenerife and can now offer mortgages of 80% to 95% in some cases once potential purchasers have been pre-qualified.
We have seen discounts of over 50% of the original valuations so there are opportunities to purchase properties for less than half of their original cost with almost a 100% Tenerife mortgage.
90% – 100% Spanish mortgages
In some cases on specific properties, we are able to secure mortgages in excess of 90%. We are currently in negotiations with a lender who wishes to liquidate some of their repossessions and are willing to subrogate mortgages at up to 100% of the purchase price. In these cases, you will need to pay approximately 11 – 12% of the purchase price to complete – so you still need to have some cash available.
Distressed sales in Tenerife
We also regularly receive very good discounted properties from our network of estate agents which you are welcome to opt in for. These are usually where a buyer is having to sell at a loss and exit the market and are known as “distressed sales.”
Timescale
Repossession purchases take place very quickly (without viewings in many cases) so the advantage is with cash buyers but opportunities do exist for those who need a mortgage. Because of this we need to ensure that if you require a mortgage – that you actually qualify for it so will go through a “pre-qualification” process with you once you have registered an interest.
Pre-Qualification
If you are interested in receiving more information about distressed sales and repossessions in Tenerife and mainland Spain, please fill in the form below. If you require a mortgage, we will call to pre-qualify you. For all potential purchasers, we need to know how much cash you have available today to purchase.
Fill out the contact form correctly!
Please provide a home telephone number and time to call. If you do not fill out all of the fields in the form, you will not be contacted.
Serious buyers only please
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