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 along with the rest of Europe.
While the rest of Europe grinds to a halt within 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 people consider Tenerife Estate Agent to become just about the most desirable locations to which to retire. The nice and cozy dry climate is kind to old bones actually for quite some time Los Cristianos was actually a popular destination for convalescents to recuperate and gather their strength.
For those who do harbour a notion to move to Tenerife 1 day, there are certain things that need be noted about buying property on the island. To begin with, although Spanish laws may look similar, they are certainly not necessarily the same as individuals in the remainder of Europe.
One thing to remember is that debts stick to the property; they are not fixed for the previous owner. Which means if 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 prior to the sale goes through. To ensure that there are no nasty surprises the property buyer must request a Nota Simple.
In Spain, the document which corresponds to the Title Deed throughout the uk is referred to as the Escritura. This must be formalised by a Notary and any Withholding Tax if the seller not be resident in Tenerife has to be paid at the Hacienda. As the estate agent will advise you, Transfer Tax is 6.5% in the sale price except when it comes to a whole new property where there will be 5% IGIC (Canarian tax) to pay for 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 new buyer should have his name recorded at the land registry and all the bills then have to be transferred to the name from the new house owner.
There are other things to take into consideration when purchasing Tenerife property, particularly that the property you might be buying is actually legal. In some cases, houses which can be 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 vital that anyone considering buying Tenerife property seeks the recommendations and support of your experienced and professional Tenerife Estate Agent.
You can find all kinds of factors behind moving to Tenerife but the answer to settling successfully on the island is finding the right accommodation. See 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 were 3 years ago, why? Most homeowners in Tenerife purchased to enjoy an additional home in the sunshine, many of those buyers had a lasting plan, and a lot looked forward to a continued growth in property prices. This will also be attributable to the Government limiting development in 2003 so there is not a tremendous oversupply of the latest properties being built-in Tenerife. Also, we now have seen many properties for sale withdrawn through the market during the past 12 months because those vendors do not require to market confused.
Once you learn anything about Tenerife you will likely already bear in mind that it has one of the best climates in the world along with its unique Anglo-Canarian mixture of culture has made it probably the most popular ekybpv
destinations in the world. That is the primary 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 growth in property prices, why? Tenerife is quickly becoming a Mecca for property buyers from Scandinavia, Russia, Eastern Europe as well as other countries which were less affected the planet recession and they now see growth in their own individual economies. You can find no indications that Tenerife Estate Agent are still falling, perhaps the reason being the current market has become supported by a broader selection of investors.