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Unique investment opportunity in the south of Tenerife! We offer for sale a plot of land with a total area of 5
Playa Paraiso, Tenerife, Spain, 38678
REF: 967700
€8,900,000
Description
Unique investment opportunity in the south of Tenerife! We offer for sale a plot of land with a total area of 5.000 m (two adjacent areas: 3.000 m and 2.000 m ) with a ready project of a new generation multi-level commercial center. The total development is over 11,000 m on 3-4 levels including 1-2 underground floors for parking. The site is located in the active tourism zone - Playa Paraíso, just 3 minutes from La Caleta (area with Michelin restaurants) and 5 minutes from the TF-1 highway. A new road will soon open directly connecting La Caleta to Playa Paraíso, which will significantly increase traffic and attractiveness of the property. Playa Paraiso is one of the island's most promising destinations with high tourist activity, with overnight stays up 117% in 2021. Close by are the Hard Rock, Bahía Príncipe and H10 Atlantic Sunset hotels. Main characteristics: Purpose: retail / hospitality / entertainment / services Status: Urban Plot Permitted height: 3 floors of 3.5 meters. Total project area: 11.380 m Location: close to luxury resorts and beaches Ideal for a flagship commercial development in one of the most dynamic areas of the Canary Islands.
Unique investment opportunity in the south of Tenerife! We offer for sale a plot of land with a total area of 5.000 m (two adjacent areas: 3.000 m and 2.000 m ) with a ready project of a new generation multi-level commercial center. The total development is over 11,000 m on 3-4 levels including 1-2 underground floors for parking. The site is located in the active tourism zone - Playa Paraíso, just 3 minutes from La Caleta (area with Michelin restaurants) and 5 minutes from the TF-1 highway. A new road will soon open directly connecting La Caleta to Playa Paraíso, which will significantly increase traffic and attractiveness of the property. Playa Paraiso is one of the island's most promising destinations with high tourist activity, with overnight stays up 117% in 2021. Close by are the Hard Rock, Bahía Príncipe and H10 Atlantic Sunset hotels. Main characteristics: Purpose: retail / hospitality / entertainment / services Status: Urban Plot Permitted height: 3 floors of 3.5 meters. Total project area: 11.380 m Location: close to luxury resorts and beaches Ideal for a flagship commercial development in one of the most dynamic areas of the Canary Islands.
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Currency Exchange
Playa Paraiso, Tenerife, Spain, 38678
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Spain do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Spain takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €8,900,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €8,900,000 | £7,332,710 | £7,726,001 | £393,291 |
| Property Price € | €8,900,000 |
| Minimum cost in the last six months | £7,332,710 |
| Maximum cost in the last six months | £7,726,001 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £393,291 |
Playa Paraiso, Tenerife, Spain, 38678
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Spain do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Spain takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €8,900,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €8,900,000 | £7,332,710 | £7,726,001 | £393,291 |
| Property Price € | €8,900,000 |
| Minimum cost in the last six months | £7,332,710 |
| Maximum cost in the last six months | £7,726,001 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £393,291 |
The exchange rate on the day you make an offer on your property in Spain will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.
The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.
This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £393,291 more.
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