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 along with the rest of Europe.
While the remainder of Europe grinds to some halt within blanket of snow, Tenerife remains warm with maybe a brisk breeze to remind residents of colder climes home. It’s unsurprising then that so many individuals consider Tenerife Estate Agent to be one of the most desirable locations that to retire. The nice and cozy dry weather conditions are kind to old bones in fact for many years Los Cristianos was 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 some things which 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 most of Europe.
One thing to remember is that debts stick with the property; they are not fixed to the previous owner. That means if the seller has run up a large number of Euros in tax, community fees or utilities, these bills would accrue for the new owner unless these are cleared ahead of the sale goes through. To make sure that you can find no nasty surprises the house buyer must request a Nota Simple.
In Spain, the document which matches the Title Deed throughout the uk is called the Escritura. This must be formalised with a Notary and then any Withholding Tax should the seller not resident in Tenerife must be paid on the Hacienda. As the estate agent will give you advice, Transfer Tax is 6.5% in the sale price except with regards to a brand new property where you will have 5% IGIC (Canarian tax) to pay for and .75% Transfer Tax.
In which you have purchased a new property, you will need to pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the brand new buyer should have his name recorded in the land registry and all of the bills then have to be transferred in to the name in the new property owner.
There are other things to take into consideration when choosing Tenerife property, particularly that this property you might be buying is in fact legal. In some cases, houses that are on rural land will 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 thinking about buying Tenerife property seeks the advice and support of an experienced and professional Tenerife Estate Agent.
There are all kinds 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 houses for sale on The Tenerife Property Guide.
You will find far fewer properties on the market in Tenerife than there have been three years ago, why? Most property owners in Tenerife purchased to take pleasure from another home in the sun, a lot of those buyers had a long term plan, and most looked to a continued development in property prices. This will also be attributable to the Government limiting development in 2003 so there has not been an enormous oversupply of brand new properties being built-in Tenerife. Also, we have now seen many houses for sale withdrawn from the market in the past one year because those vendors do not require to promote at a loss.
If you know anything about Tenerife you will likely already remember that it has among the best climates in the world along with its unique Anglo-Canarian combination of culture has created it one of the most popular ekybpv
destinations on earth. This is the main reason why people purchase a home in Tenerife.
Now there are strong signals that this property slump in Tenerife has bottomed out, so 2011 could see positive increase 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 world recession and they also now see growth in their own economies. You can find no indications that Estate Agent In Tenerife are still falling, perhaps this is because the current market has become maintained by a broader range of investors.