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 together with the rest of Europe.
While the remainder of Europe grinds to a halt under a blanket of snow, Tenerife remains warm with maybe a brisk breeze to remind residents of colder climes home. It’s no surprise then that so many people consider Estate Agent In Tenerife to become one of the most desirable locations to which to retire. The nice and cozy 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 people who do harbour a notion to maneuver to Tenerife one day, there are some things which need be noted about buying property on the island. For starters, although Spanish laws may look similar, they are certainly not necessarily exactly like those who work in the rest of Europe.
Something to remember is the fact that debts stick to the home; they are certainly not fixed for the previous owner. This means in the event the seller has run up a large number of Euros in tax, community fees or utilities, these bills would accrue to the new owner unless they are cleared before the sale goes through. To make sure that there are no nasty surprises the house buyer must ask for a Nota Simple.
In Spain, the document which matches the Title Deed throughout the uk is called the Escritura. This has to be formalised by a Notary and any Withholding Tax in case the seller not be resident in Tenerife must be paid on the Hacienda. As the estate agent will advise you, Transfer Tax is 6.5% of the sale price except in the case of a whole new property where you will have 5% IGIC (Canarian tax) to pay 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 new buyer should have his name recorded on the land registry and all the bills then have to be transferred to the name of the new house owner.
There are many things to take into consideration when purchasing Tenerife property, particularly that this property you happen to be buying is actually legal. In some instances, houses which can be on rural land will 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 crucial that anyone thinking about buying Tenerife property seeks the recommendation and support of the experienced and professional Estate Agent Tenerife.
You will find all types of reasons behind moving to Tenerife however the key to settling successfully on the island is choosing the right accommodation. Look at the latest up-to-date Tenerife houses for sale on The Tenerife Property Guide.
You will find far fewer properties on the market in Tenerife than there was 3 years ago, why? Most property owners in Tenerife purchased to experience a second home in the sun, many of those buyers had a long term plan, and many looked forward to a continued growth in property prices. This can also be attributable for the Government limiting development back in 2003 so there is not an enormous oversupply of new properties being built in Tenerife. Also, we have now seen many houses for sale withdrawn through the market in the past one year because those vendors do not need to promote confused.
If you know anything about Tenerife you will likely already bear in mind that it has among the best climates on the planet along with its unique Anglo-Canarian combination of culture has made it just about the most popular ekybpv
destinations on the planet. This is the main reason why people purchase a property in Tenerife.
There are now strong signals that this property slump in Tenerife has bottomed out, so 2011 could see positive increase in property prices, why? Tenerife is fast becoming a Mecca for property buyers from Scandinavia, Russia, Eastern Europe as well as other countries that have been less affected the world recession and they also now see growth in their own individual economies. There are no indications that Tenerife Estate Agent remain falling, perhaps this is because the current market is now supported by a broader variety of investors.