New-build penthouse with 68 m² solarium, San Miguel de Salinas

Top-unit penthouse in a small new-build promotion on Calle la Capitana, in the La Cañada – Las Marinas zone of San Miguel de Salinas. The building is post-2025 construction with delivery scheduled for December 2026 — the unit is still mid-build, which leaves room to specify flooring, bathroom fittings and a short list of other finishes before handover.

The footprint pairs a 77 m² interior with 85 m² of private outdoor space — a 68.5 m² rooftop solarium plus a 16.5 m² balcony on the opposite face, which is the geometry the short-stay market rewards most at this nightly tier. Three bedrooms, two full baths, an open-plan living-dining-kitchen of 28.4 m², south-facing. Individual heat-pump heating/cooling. Pool and garden inside the complex.

Location — why this addresses a different buyer than the centre

San Miguel de Salinas sits inland from Torrevieja, on the edge of the salt-lake basin and inside the Costa Blanca golf cluster — Las Colinas Golf & Country Club and Villamartín Golf are minutes away by car. The beach line (Punta Prima, La Zenia, Cabo Roig) is 8–10 km away. The motorway connection to Alicante and Murcia is 5–7 km.

The promotion itself is set up on a hillside, away from the main road and from the pool zone of the complex — which keeps the unit quieter than the beachfront alternatives at the same price band and is the basis of the project’s marketing line on the salt-lake microclimate.

Investor lenses

• Golf-driven short-stay rental. Three-bed, two-bath units inside a 10-minute drive of Las Colinas command a strong shoulder-season rate ladder — golf tourism on Costa Blanca runs October–April, exactly the inverse of the beachfront summer peak. The solarium and south orientation extend the usable outdoor season into those months.
• Owner-occupier with outdoor preference. The outdoor-to-indoor ratio on this unit is unusually high; for a buyer who wants a permanent residence on Costa Blanca with terrace life and golf access, the geometry is the deciding factor.
• Off-plan customisation play. Because the unit is still under construction, flooring, bathrooms and other finishes can still be specified to a short-stay fit-out spec — which materially shifts net yield on day one of letting.

Rental model — indicative numbers at €295,000

Year-1 numbers are partial — handover lands in December 2026 and the unit only enters full operation the following season. The figures below model Year-2 stabilised short-stay performance under our standard underwriting: no rate-leadership assumption, no solarium build-out priced in. The aim is to give you a defensible floor, not a sales projection.

• Blended ADR ≈ €125 / night— weighted across summer (€140–170, beach-driven demand at a 10-km distance), golf shoulder Oct–Apr (€110–140), and low mid-week (€80–100). The salt-lake / Las Colinas positioning sustains demand outside the August peak in a way the pure beachfront product can’t.
• Annual nights booked ≈ 220 (60 % occupancy) — a measured assumption for an inland 3-bed at this price band; the golf cycle is what holds occupancy above 50 % once the August peak rolls off.
• Gross rental income ≈ €27,500 / year.
• Operating costs ≈ €15,000 / year — OTA fees (~10 % blended), cleaning, utilities, supplies, 15 % management, IBI, community (with pool maintenance), STR insurance, licence and accounting, plus a 0.5 % maintenance reserve. The community line is materially heavier than the urban-Torrevieja products because of the shared pool and garden.
• Net rental, pre-tax ≈ €12,500 / year.
• Gross yield on asking price ≈ 9.3 %.
• Net yield, pre-tax ≈ 4.2 %. Modelo 210 at 19 % on net (EU/EEA-resident profile) trims that to ≈ 3.4 % post-tax — materially ahead of the central-Torrevieja penthouses on yield, behind them on capital-appreciation potential.

For comparison, a long-term residential lease on this unit underwrites at roughly €1,200 / month gross (≈ €14,400 / year, furnished, 12-month contract), netting to ~3.6 % pre-tax. Short-stay wins by ~60 basis points net on these assumptions — narrower margin than the central units because the inland location caps the high-season rate ladder.

The off-plan customisation upside isn’t in the base case. Specifying a short-stay-grade fit-out (bathroom layout, flooring spec, kitchen built-ins, blackout window dressing) plausibly lifts ADR by €15–25 / night without any post-handover capex — pushing stabilised net toward the high 4 % range. We model that as upside, not base.

How we run the file

Asking price is €295,000 as currently advertised. The full investment memo — net yield modelled to your tax residence, Modelo 210 setup, plusvalía exposure, short-stay licence path — is included in the discovery-call deliverable. A companion ground-floor unit on the opposite side of the row (with a private garden in place of the rooftop solarium) is also reportedly available; we model both side-by-side on request.

What we still verify together

• Short-stay licence path in San Miguel de Salinas — the municipal regime differs from Torrevieja, and the community-of-owners position on tourist rentals is the non-negotiable check before arras.
• Developer covenants on the delivery schedule and the customisation cut-off, so the off-plan upside doesn’t slip through the contractual cracks.
• Your tax residence so the modelled net yield is built on the right deduction profile, and personal-name vs. Spanish-SL acquisition vehicle.