Listing N° D2 · San Fernando, Puerto de la Cruz, North
San Fernando
San Fernando, Puerto de la Cruz, North · Tenerife
4 bed · 4 bath261 m² built535 m² plotVilla
01 / 89
In this feature
Ch. I
The take
Ch. II
The numbers
Ch. III
The plates
Ch. IV
The location
Nathan's take
First read · from the data
I'd expect a modern villa in a quiet, upscale area. Listed
AI summary — not a viewing
My verdict
Weigh the specifics
Listed about 17% above what it’s worth. Don’t bid at asking.
What to offer
Listed about 17% above fair value. Modest negotiation room.
Stretch offer
Slightly below fair. Aggressive but defensible if the seller is motivated.
€645,000
Realistic offer
Just above fair value — a small premium to land the deal cleanly.
€695,000
Don't pay more than
Above this, the gap to fair gets uncomfortable. Walk before that.
€720,000
Days on market1 day · since 27 Apr 2026
I haven't walked this one yet.
Photos and listing copy only tell you so much. If you're seriously interested, I can visit it for you, walk every room, and send back what's actually true on the ground — building condition, neighbours, light at different times of day, anything the photos don't show.
If you bought it today
Listed at €795,000; fair value €680,000. You'd be paying €115,000 over (+16.9%).
What you actually pay to buy ≈ €863,000 (the price plus taxes, notary, registry, and my fee).
Super
+7.3% / yr
Break-even at 2 years
10-yr net to seller: €1,545,000 · total return +€683,000 (+79.2%)
5-yr: €1,086,000 · +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: €1,237,000 · total return +€375,000 (+43.4%)
5-yr: €972,000 · +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: €1,154,000 · total return +€291,000 (+33.8%)
5-yr: €938,000 · +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: €994,000 · total return +€132,000 (+15.3%)
5-yr: €871,000 · +1.0%
Recession or tourism shock. Bottom-decile of historical years.
Crash (2008-style)
-2.0% / yr
10-yr return -€188,000
Honest worst-case: replays the actual Spanish 2008–2018 cycle. Sharp decline then slow recovery. Most buyers stay underwater for 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 11.0% higher than a year ago — market running hot.
1-year
+11.0%
5-year
+49.6%
vs peak
100%
QIV 2025
Source: INE · Spanish Housing Price Index (IPV) · 2015 = 100
By the numbers
Listed
€795,000
€3,046 / m²
My target
€695,000
12.6% under asking
Community fee
N/A
Standalone — no homeowners' association
Pending special assessment
N/A
Standalone — no homeowners' association
The true cost, at my target
Purchase price
€695,000
ITP — 6.5% Canarias
€45,000
Notary
€1,450
Land registry
€680
Gestoría
€600
My fee — 1.5%
€10,000
All-in, done
€753,000
Mortgage, indicative
From
€2,414/ month
via Sabadell · €278,250 deposit · 25y
10 banks · 12m Euribor 2.723% · April 2026 · non-binding
The plates
The location
Where this one sits.
San Fernando, Puerto de la Cruz, North Tenerife.
Nearest beachPlaya Martiánez1.2 km · 2 min drive
Second beachPlaya de San Telmo1.2 km · 2 min drive
SupermarketMercadona389 m · 5 min walk
PharmacyFarmacia Botánico635 m · 8 min walk
Restaurants & cafés6 within 500 m
International schoolDeutsche Schule Puerto de la Cruz1.1 km · 2 min drive
HospitalHospiten Bellevue471 m · 2 min drive
Shopping mallCanary Center623 m · 2 min drive
MarinaPuerto Deportivo La Galera17.8 km · 15 min drive
Golf courseCampo de Golf La Rosaleda1.4 km · 2 min drive
AirportAeropuerto de Tenerife Norte - Los Rodeos21.0 km · 18 min drive
A word from Nathan
Nathan Derkse
Buyer's agent
A note
“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.”
Nathan