Of all the things which Tenerife offers its expatriate residents, the dependably good weather is right up there at the top of the list. Elsewhere in Spain might offer similar cultural charm, but mainland Spain can shiver through the winter right together with the rest of Europe.
While the rest of Europe grinds to some halt under a blanket of snow, Tenerife remains warm with maybe a brisk breeze to remind residents of colder climes home. It’s not surprising then that so many individuals consider Estate Agent In Tenerife to be one of the most desirable locations to which to retire. The warm dry weather conditions are kind to old bones actually for quite some time Los Cristianos was a popular destination for convalescents to recuperate and gather their strength.
For those who do harbour a notion to go to Tenerife one day, there are some things which need be noted about buying property on the island. To begin with, although Spanish laws may look similar, they are not necessarily the same as those who work in the remainder of Europe.
One important thing to bear in mind is that debts stick to the house; they are certainly not fixed towards the previous owner. Which means when the seller has run up thousands of Euros in tax, community fees or utilities, these bills would accrue to the new owner unless they are cleared prior to the sale goes through. To ensure that you can find no nasty surprises the property buyer must request a Nota Simple.
In Spain, the document which matches the Title Deed in the UK is known as the Escritura. This has to be formalised by a Notary as well as any Withholding Tax should the seller not be resident in Tenerife has to be paid in the Hacienda. As your estate agent will counsel you, Transfer Tax is 6.5% in the sale price except with regards to a brand new property where there will be 5% IGIC (Canarian tax) to cover and .75% Transfer Tax.
Where you have bought a new property, you will have to pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the new buyer has to have his name recorded in the land registry and all of the bills then have to be transferred to the name in the new house owner.
There are more things to take into consideration when choosing Tenerife property, particularly that the property you are buying is in fact legal. In some cases, houses that are on rural land might not be 100% above board. The Tenerife government will not be averse to bulldozing illegal structures to the ground and fining the owners so it is vital that anyone considering buying Tenerife property seeks the advice and support of your experienced and professional Tenerife Estate Agent.
You can find all kinds of reasons for moving to Tenerife but the factor to settling successfully on the island is finding the right accommodation. Look at the latest up-to-date Tenerife properties for sale on The Tenerife Property Guide.
There are far fewer properties on the market in Tenerife than there have been three years ago, why? Most home owners in Tenerife purchased to enjoy another home in the sunshine, a lot of those buyers had a long term plan, and most looked forward to a continued development in property prices. This will also be attributable towards the Government limiting development way back in 2003 so there is not a tremendous oversupply of brand new properties being integrated Tenerife. Also, we have now seen many houses for sale withdrawn from the market in the past 12 months because those vendors do not need to promote at a loss.
Once you know anything about Tenerife you will likely already be aware that it has one of the better climates on the planet and its unique Anglo-Canarian combination of culture has created it probably the most popular ekybpv
destinations on earth. Which is the main reason why people purchase a house in Tenerife.
Nowadays there are strong signals that the property slump in Tenerife has bottomed out, so 2011 could see positive growth in property prices, why? Tenerife is quickly becoming a Mecca for property buyers from Scandinavia, Russia, Eastern Europe along with other countries which have been less affected the planet recession plus they now see growth in their economies. You will find no indications that Tenerife Estate Agent remain falling, perhaps it is because the marketplace is now backed up by a broader selection of investors.