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 your halt under a blanket of snow, Tenerife remains warm with maybe a brisk breeze to remind residents of colder climes back home. It’s not surprising then that so many individuals consider Tenerife Estate Agent to become just about the most desirable locations to which to retire. The warm dry weather conditions are kind to old bones in reality for many years Los Cristianos was actually a popular destination for convalescents to recuperate and gather their strength.
For individuals who do harbour a notion to maneuver to Tenerife some day, there are certain 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 in the rest of Europe.
One important thing to remember is that debts stay with the property; they are certainly not fixed for the previous owner. This means when the seller has run up thousands of Euros in tax, community fees or utilities, these bills would accrue for the new owner unless they may be cleared prior to the sale undergoes. To make sure that you will find no nasty surprises the home buyer must request a Nota Simple.
In Spain, the document which matches the Title Deed in the UK is referred to as the Escritura. This must be formalised by way of a Notary as well as any Withholding Tax if the seller not resident in Tenerife has to be paid at the Hacienda. When your estate agent will give you advice, Transfer Tax is 6.5% of the sale price except with regards to a new property where you will see 5% IGIC (Canarian tax) to cover and .75% Transfer Tax.
In which you have purchased a new property, you should pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the newest buyer should have his name recorded on the land registry and all of the bills then need to be transferred into the name of the new home owner.
There are many things to watch out for when buying Tenerife property, particularly the property you happen to be buying is certainly legal. In some instances, houses which are on rural land may not be 100% above board. The Tenerife government is not 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 your experienced and professional Estate Agent In Tenerife.
You can find all types of factors behind moving to Tenerife but the factor 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.
You can find far fewer properties on the market in Tenerife than there were three years ago, why? Most homeowners in Tenerife purchased to experience an additional home in the sunshine, many of those buyers had a long term plan, and many looked to a continued growth in property prices. This will also be attributable towards the Government limiting development in 2003 so there is not an enormous oversupply of the latest properties being built-in Tenerife. Also, we have now seen many houses for sale withdrawn from your market in the past twelve months because those vendors do not require to promote at a loss.
Once you learn anything about Tenerife you will likely already remember that it has among the best climates on the planet as well as its unique Anglo-Canarian combination of culture has made it probably the most popular ekybpv
destinations on earth. Which 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 development in property prices, why? Tenerife is quickly becoming a Mecca for property buyers from Scandinavia, Russia, Eastern Europe and other countries which have been less affected the planet recession and they now see growth in their economies. There are no indications that Estate Agent In Tenerife remain falling, perhaps it is because the marketplace is now backed up by a broader variety of investors.