Of all the stuff 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 along with the rest of Europe.
While most of Europe grinds to some halt within a blanket of snow, Tenerife remains warm with perhaps a brisk breeze to remind residents of colder climes home. It’s unsurprising then that so many individuals consider Estate Agent In Tenerife to become probably the most desirable locations to which to retire. The warm dry climate is kind to old bones in fact for several years Los Cristianos was actually a popular place to go for convalescents to recuperate and gather their strength.
For those who do harbour a notion to maneuver to Tenerife some 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 just like those in the rest of Europe.
One important thing to bear in mind is the fact debts stick with the home; they are certainly not fixed for the previous owner. Which means in the event the seller has run up 1000s of Euros in tax, community fees or utilities, these bills would accrue towards the new owner unless these are cleared ahead of the sale goes through. To ensure that there are no nasty surprises the home buyer must ask for a Nota Simple.
In Spain, the document which matches the Title Deed in the UK is called the Escritura. This has to be formalised with a Notary and then any Withholding Tax in case the seller not resident in Tenerife needs to be paid on the Hacienda. As your estate agent will counsel you, Transfer Tax is 6.5% of the sale price except with regards to a whole new property where you will have 5% IGIC (Canarian tax) to pay for and .75% Transfer Tax.
In which you have obtained a new property, you will have to pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the brand new buyer has to have his name recorded in the land registry and all the bills then need to be transferred in to the name from the new property owner.
There are more things to take into consideration when purchasing Tenerife property, particularly that the property you are buying is actually legal. Sometimes, houses which are 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 vital that anyone considering buying Tenerife property seeks the advice and support of your experienced and professional Estate Agent In Tenerife.
You can find all types of factors behind moving to Tenerife however the answer 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.
There are far fewer properties on the market in Tenerife than there were three years ago, why? Most property owners in Tenerife purchased to take pleasure from an additional home in the sun, many of those buyers had a lasting plan, and many looked toward a continued increase in property prices. This will also be attributable to the Government limiting development way back in 2003 so there is not a massive oversupply of new properties being integrated Tenerife. Also, we have now seen many properties for sale withdrawn from the market during the past twelve months because those vendors do not require to promote confused.
If you know anything about Tenerife you will likely already remember that it offers one of the better climates on earth and its unique Anglo-Canarian mixture of culture makes it one of the most popular ekybpv
destinations in the world. Which is the primary reason why people purchase a house in Tenerife.
Now there are strong signals that this 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 as well as other countries which have been less affected the planet recession and they also now see growth in their own economies. You can find no indications that Tenerife Estate Agent are still falling, perhaps it is because the market is now supported by a broader variety of investors.