Casona BIC 1870 con vistas al mar —
“A 404 m² heritage home from 1870 on a big 2,449 m² urban plot in San Antonio, Puerto de la Cruz. Six rooms with high ceilings, sea views. Asking €650,000. The catch: it's been barely livable for decades. Floors, kitchen, electrics, plumbing all need replacing. A builder I trust quoted €800–850 per m² for the work — about €333,000. That's better than typical for heritage homes. So in current condition, it's worth around €545,000 (€878k once renovated, minus the renovation cost). The harder part is finding the buyer. People willing to take on an 1870 heritage home that needs €333k of work are rare — maybe 5 to 15 motivated buyers globally per year. Homes like this take 12 to 24 months to sell, a quarter never sell at all, and most come down 15% before they do. Realistic price is around €465,000. My target is €465–490k. At that price, all-in cost (purchase plus renovation plus buying costs) is roughly €860k against a finished value of about €880k — real margin, and a fair price for both sides given how few buyers there actually are. Above this band you're paying the seller to wait. Below €450k the seller walks.”
The listing says 404 m², but the official tax record says 730 m² (-45% difference).
In Spain, three different numbers can disagree: the tax record, the deed, and the building as it actually stands. A 45% gap usually means the seller only owns part of the plot, the tax record covers a bigger area than the seller actually owns, or area is being hidden. Get the deed checked before you make an offer — the fair-value number we show uses the smaller, official figure to be safe.
What I saw on the viewing.
A 404 m² heritage home from 1870 on a big 2,449 m² urban plot in San Antonio, Puerto de la Cruz. Six rooms with high ceilings, sea views. Asking €650,000.
The catch: it's been barely livable for decades. Floors, kitchen, electrics, plumbing all need replacing. A builder I trust quoted €800–850 per m² for the work — about €333,000. That's better than typical for heritage homes.
So in current condition, it's worth around €545,000 (€878k once renovated, minus the renovation cost).
The harder part is finding the buyer. People willing to take on an 1870 heritage home that needs €333k of work are rare — maybe 5 to 15 motivated buyers globally per year. Homes like this take 12 to 24 months to sell, a quarter never sell at all, and most come down 15% before they do.
Realistic price is around €465,000. My target is €465–490k. At that price, all-in cost (purchase plus renovation plus buying costs) is roughly €860k against a finished value of about €880k — real margin, and a fair price for both sides given how few buyers there actually are. Above this band you're paying the seller to wait. Below €450k the seller walks.
Where this one sits.
Puerto de la Cruz, North Tenerife.
“If you'd like me to walk this property with you — on video, or in person on your next trip — send me a message. Twenty minutes is usually enough to know whether it's the one.”