Houses in the Canary Islands for 1 Euro

canary house for 1 euro

Many people wonder if the houses for 1 euro in the Canary Islands whether they are a reality or just a publicity stunt. The answer is… both! Yes, there are indeed some properties available at a bargain price (certainly not 1 euro), but it is important to understand the challenges and conditions underlying low-cost offers before jumping to conclusions

1 Euro Houses: Reality or Fantasy?

Dilapidated houses in need of renovation

The truth is that the ads offering houses for sale at a bargain price are often lands or dilapidated agricultural houses that will certainly need renovation and maintenance before being inhabited. In fact, you could find yourself faced with an ancient residence that requires expensive and demanding interventions to make it habitable, despite the competitive initial price

Remote locations

Often, these opportunities are present in remote areas, far from the main tourist locations and with few services. This may represent an opportunity for those seeking tranquility, but may not be ideal for those wanting to invest in the tourism sector or move to the Canary Islands with their family.

Bureaucracy and taxes

Buying a house in the Canary Islands involves notary fees, taxes and other formalities that must be factored in when considering purchasing a house. It is essential to be prepared to manage the bureaucracy and carefully evaluate the additional costs even when the selling price seems lower than average, so as not to be caught unprepared.

Don't be fooled by those who swear they have a house for sale in the Canary Islands for a penny: as much as it may seem like the deal of a lifetime, properties at rock-bottom prices require renovation, additional bureaucratic costs and may not be located directly on the seafront.

But don't worry! The Canary Islands offer a wide range of real estate investment opportunities. There are many properties that, although they don't cost just 1 euro, can represent an incredible deal in terms of value for money. With the help of real estate professionals you will surely be able to find an advantageous offer for you!

For more information on living costs in Tenerife, we advise you to read this post so as to have a more detailed idea of the costs in the Canary Islands.

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