Of all the things that 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 combined with the rest of Europe.
While the rest of Europe grinds to a halt under a blanket of snow, Tenerife remains warm with perhaps a brisk breeze to remind residents of colder climes home. It’s not surprising then that so many people consider Estate Agent Tenerife to get probably the most desirable locations that to retire. The warm dry weather conditions are kind to old bones in fact for quite some time Los Cristianos was a popular place to go 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 certainly not necessarily exactly like those who work in most of Europe.
Something to bear in mind is the fact debts stick with the property; they are not fixed for the previous owner. That means when the seller has run up 1000s of Euros in tax, community fees or utilities, these bills would accrue towards the new owner unless they may be cleared before the sale experiences. To ensure you will find no nasty surprises the home buyer must ask for a Nota Simple.
In Spain, the document which matches the Title Deed in the united kingdom is referred to as the Escritura. This has to be formalised by a Notary and any Withholding Tax should the seller not be resident in Tenerife has to be paid on the Hacienda. As the estate agent will counsel you, Transfer Tax is 6.5% in the sale price except in the case of a whole new property where you will see 5% IGIC (Canarian tax) to cover and .75% Transfer Tax.
Where you have obtained a new property, you will need to pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the brand new buyer has to have his name recorded on the land registry and all sorts of the bills then have to be transferred into the name in the new home owner.
There are more things to watch out for when purchasing Tenerife property, particularly that the property you might be buying is in fact legal. Sometimes, houses which can be on rural land might not be 100% above board. The Tenerife government is not really averse to bulldozing illegal structures to the floor and fining the owners so it is crucial that anyone considering buying Tenerife property seeks the recommendations and support of an experienced and professional Estate Agent Tenerife.
You will find all sorts of reasons for moving to Tenerife but the key to settling successfully on the island is finding the right accommodation. Look at the latest updated Tenerife houses for sale on The Tenerife Property Guide.
You can find far fewer properties on the market in Tenerife than there have been three years ago, why? Most property owners in Tenerife purchased to experience another home under the sun, many of those buyers had a long term plan, and most looked toward a continued increase in property prices. This may also be attributable to the Government limiting development way back in 2003 so there is not a massive oversupply of new properties being built in Tenerife. Also, we have seen many houses for sale withdrawn from your market in the past 12 months because those vendors do not need to promote at a loss.
Once you learn anything about Tenerife you will likely already be aware that it offers among the best climates on the planet and its unique Anglo-Canarian mixture of culture has made it probably the most popular ekybpv
destinations on the planet. Which is the main reason why people purchase a house in Tenerife.
Now 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 fast becoming a Mecca for property buyers from Scandinavia, Russia, Eastern Europe and other countries that have been less affected the planet recession plus they now see growth in their economies. There are no indications that Estate Agent Tenerife remain falling, perhaps it is because the marketplace is now supported by a broader variety of investors.