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 together with the rest of Europe.
While most of Europe grinds to your halt within 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 a lot of people consider Estate Agent In Tenerife to get one of the most desirable locations to which to retire. The warm dry weather conditions are kind to old bones actually for several years 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 some day, there are certain things that need be noted about buying property on the island. For starters, although Spanish laws may look similar, they are not necessarily exactly like those who work in the rest of Europe.
Something to bear in mind is that debts stick to the house; they are certainly not fixed towards the previous owner. This 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 they are cleared prior to the sale undergoes. To make sure that you can find no nasty surprises the home buyer must request a Nota Simple.
In Spain, the document which corresponds to the Title Deed in the united kingdom is known as the Escritura. This should be formalised with a Notary and any Withholding Tax in case the seller not resident in Tenerife must be paid in the Hacienda. When your estate agent will advise you, Transfer Tax is 6.5% from the sale price except in the case of a brand new property where you will see 5% IGIC (Canarian tax) to pay and .75% Transfer Tax.
In which you have obtained a new property, you will need to pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the newest buyer has to have his name recorded at the land registry and all of the bills then have to be transferred in to the name in the new house owner.
There are more things to watch out for when choosing Tenerife property, particularly that this property you happen to be buying is in fact legal. In some instances, 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 floor and fining the owners so it is very important that anyone considering buying Tenerife property seeks the recommendations and support of an experienced and professional Estate Agent Tenerife.
There are all sorts of factors behind moving to Tenerife nevertheless the answer to settling successfully on the island is finding the right accommodation. View 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 take pleasure from another home in the sunshine, many of those buyers had a lasting plan, and most looked forward to a continued development in property prices. This will also be attributable towards the Government limiting development in 2003 so there is not a tremendous oversupply of brand new properties being built-in Tenerife. Also, we now have seen many houses for sale withdrawn from the market in the past twelve months because those vendors do not require to promote at a loss.
If you know anything about Tenerife you will likely already be aware that it offers one of the best climates on earth and its unique Anglo-Canarian mixture of culture makes it just about the most popular ekybpv
destinations in the world. This is the major reason why people buy a property in Tenerife.
There are now strong signals the property slump in Tenerife has bottomed out, so 2011 could see positive development 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 and they also now see growth in their own economies. There are no indications that Estate Agent In Tenerife remain falling, perhaps this is because the marketplace has become maintained by a broader selection of investors.