We have just returned from two weeks in this lovely bungalow. It is perfectly located on a gated, quiet urbanisation. 3-5 minute walk to a large supermarket (open Sundays peak season) and pharmacy. 10-15 minute slow stroll to the promenade beach with its many restaurants/bars/shops. There are many other shops etc nearby, away from the beach.
I wouldn't recommend walking to Old Town - at the promenade you can get the local "tourist train" (5 Euros) or taxi (8 Euros each way).
The bungalow was well equipped and I can't think of anything we felt it lacked. Having said that, previous reviews mention the bedding and that would be our only criticism. We relocated two pillows temporarily from the second bedroom to boost the ones in the main bedroom, but they remained flat and bumpy. I do hope the owner takes this and previous comments onboard to renew them. The bathroom did on occasion smell a bit (as previous reviewers also mentioned) but it was not a permanent odour and with the door closed was not a problem. After all, how much time do you spend in a bathroom anyway? The pool was a little cool first thing, but the temperature improved as the day progressed and was very welcome on hot days.
The owner has been very responsive to any queries (including help with taxi transfer information) and the housekeeper was brilliant, helping out with any queries we had during our stay.
We would definitely stay here again - if they buy new pillows, lol.