6 Remarkably Cheap Property Repossessions For Sale In The Sun (Under 50,000 EUR)

Ah – it’s almost summer!

And with the onset of summer comes dreams of tanning ourselves on sun-drenched beaches.  Of course, summer doesn’t always mean sun in the UK so how about buying a cheap property in the Canaries which offers year round summer sun?

Property repossessions are a sad fact of the housing market – but they also offer opportunities for budget conscious buyers to bag a property bargain at way below market value.

So if you fancy a cheap place in the sun – here’s my pick of the latest bank repossessions priced under 50,000 EUR.

16,600 EUR

La Antigua, Fuerteventura

One bedroom apartment (25sqm) comprises living-dining-kitchen, 1 bedroom, bathroom and terrace. Located in Nuevo Horizonte Residential Complex, 500 meters from the beach and equipped with communal pool and gardens.

20,600 EUR

Costa Teguise, Lanzarote

Ground floor one bedroom (42sqm) apartment with built-in wardrobes, 1 bedroom, 1 bathroom, lounge, open plan fitted kitchen, and terrace. Communal swimming pool & gardens. Built 1991.

27,000 EUR

Granadilla, Tenerife

Three bedroom, one bath apartment (104 sqm) with store room in the village of Granadilla, within the municipality of Granadilla de Abona. Built in 1984 and now requiring refurbishment.

31,300 EUR

Arrecife, Lanzarote

First floor two bedroom (70 sqm) apartment in Arrecife with 2 bedrooms, 1 bathroom. Built 2000. Renovation needed.

40,000 EUR

Puerto del Rosario, Fuerteventura

Two bedroom house (56 sqm) in Puerto del Rosario situated on a plot of 10,000 m². The property offers living room, 2 bedrooms, kitchen and 1 bathroom. The beach of Santa Inés is less than 15 minutes away. Built: 2004

48,000 EUR

Icod, Tenerife

Three bedroom (235 sqm) country house built over two floors.  Comprises 3 bedrooms, 2 bathrooms, lounge-diner, kitchen and a garage. Built in 2005  – but needs renovation.