Listing N° 43 · Filed 11 February,
Piso en Calle Tenerife, Fañabé - Ifonche y Benítez, Adeje, .
3 bed · 1 bath111 m² + 12 m² terraceBuilt 1998Lift · 2nd floor
In this feature
Ch. I
The take
Ch. II
The numbers
Ch. III
The plates
Ch. IV
The location
Nathan's take
The honest note
“Walked it. Notes coming.”
My verdict
Weigh the specifics
Neutral — depends on your priorities. Worth a call.
If you bought it today
Listed at €355,000; fair value €346,888. You'd be paying €8,112 over (+2.3%).
All-in buy cost ≈ €385,175 (price + ITP, notary, registry, my fee).
Super
+7.3% / yr
Break-even at 2 years
10-yr net to seller: €690,083 · total return +€304,908 (+79.2%)
5-yr: €484,954 · +25.9%
Tourism + supply tightness continues. Top-quartile of historical years.
Okay
+5.0% / yr
Break-even at 3 years
10-yr net to seller: €552,489 · total return +€167,314 (+43.4%)
5-yr: €433,922 · +12.7%
Long-run Canarias trend. What the median year has looked like.
Moderate
+4.2% / yr
Break-even at 3 years
10-yr net to seller: €515,241 · total return +€130,066 (+33.8%)
5-yr: €419,039 · +8.8%
Soft cycle. ECB tightening or local oversupply. 30th percentile.
Bad
+2.7% / yr
Break-even at 5 years
10-yr net to seller: €443,975 · total return +€58,800 (+15.3%)
5-yr: €388,981 · +1.0%
Recession or tourism shock. Bottom-decile of historical years.
Scenarios anchored on the last 10 years of Canarias INE IPV YoY observations (post-2008-crash regime). Bad = 10th percentile, Moderate = 30th, Okay = median, Super = 75th. Buy-side costs 8.5% (ITP + notary + registry + buyer's-agent fee); sell-side costs 4% (agency + plusvalía).
Market context · Canarias
QIV 2025
Canarias prices 400.0% higher than a year ago — market running hot.
1-year
+400.0%
5-year
-93.0%
vs peak
6%
QIV 2025
Source: INE · Índice de Precios de la Vivienda · 2015 = 100
What I saw on the viewing.
Walked with Andrés, my builder, on the tenth. The building is older than the listing suggests, but looked after — plumbing redone 2018, same administrator since 2015.
Not in the listing: the kitchen extractor isn't to code, and one window frame needs replacing within five years. Together about €2,400.
My read: open at €332k, settle at €337k. Listing's been up nineteen days, nothing comparable on this block has sold below €378k in twelve months. You're not overpaying.
By the numbers
Listed
€355,000
€3,198 / m²
My target
€337,000
5.1% under asking
Community fee
€95 / mo
Bank-audited accounts
Pending derrama
None
Minutes through 2027
The true cost, at my target
Purchase price
€337,000
ITP — 6.5% Canarias
€21,905
Notary
€1,450
Land registry
€680
Gestoría
€600
My fee — 1.5%
€5,055
All-in, done
€366,690
Mortgage, indicative
From
€1,078/ month
via Sabadell · €124,250 deposit · 25y
10 banks · 12m Euribor 2.723% · April 2026 · non-binding
The location
Location coming soon
Where this one sits.
Location, Canarias Tenerife.
Amenity data still being enriched for this listing.
A word from Nathan
Nathan Derkse
Buyer's agent
A note
“If you'd like me to walk this apartment with you — on video, or next week in person — send me a message. Twenty minutes, and we'll know whether it's the one.”
Nathan