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 most of Europe grinds to your halt within a blanket of snow, Tenerife remains warm with perhaps a brisk breeze to remind residents of colder climes home. It’s no surprise then that so many individuals consider Estate Agent In Tenerife to become probably the most desirable locations that to retire. The nice and cozy dry weather conditions are kind to old bones in fact for quite some time Los Cristianos was actually a popular place to go for convalescents to recuperate and gather their strength.
For those who do harbour a notion to maneuver to Tenerife 1 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 the same as individuals in most of Europe.
Something to bear in mind is the fact debts stick to the home; they are certainly not fixed towards the previous owner. Which means in the event the seller has run up 1000s of Euros in tax, community fees or utilities, these bills would accrue to the new owner unless these are cleared ahead of the sale experiences. To ensure that you can find no nasty surprises the home buyer must ask for a Nota Simple.
In Spain, the document which corresponds to the Title Deed in the UK is called the Escritura. This has to be formalised by way of a Notary as well as any Withholding Tax in case the seller not resident in Tenerife has to be paid in the Hacienda. When your estate agent will counsel you, Transfer Tax is 6.5% of the sale price except when it comes to a 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 should pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the new buyer has to have his name recorded at the land registry and all of the bills then need to be transferred into the name of the new property owner.
There are many things to watch out for when purchasing Tenerife property, particularly that the property you happen to be buying is actually legal. Sometimes, houses which are on rural land may not be 100% above board. The Tenerife government is not really averse to bulldozing illegal structures to the floor and fining the owners so it is crucial that anyone interested in buying Tenerife property seeks the recommendation and support of an experienced and professional Estate Agent In Tenerife.
You will find all kinds of reasons behind moving to Tenerife however the key to settling successfully on the island is choosing the right accommodation. Look at the latest updated Tenerife properties for sale on The Tenerife Property Guide.
There are far fewer properties on the market in Tenerife than there were three years ago, why? Most property owners in Tenerife purchased to enjoy an additional home in the sunshine, a lot of those buyers had a long term plan, and a lot looked forward to a continued increase in property prices. This will also be attributable to the Government limiting development way back in 2003 so there has not been a tremendous oversupply of brand new properties being built-in Tenerife. Also, we have seen many properties for sale withdrawn from the market in the past 12 months because those vendors do not require to promote at a loss.
Once you know anything about Tenerife you will likely already be aware that it provides one of the best climates on the planet and its unique Anglo-Canarian blend of culture makes it one of the most popular ekybpv
destinations on the planet. Which is the main reason why people buy a house in Tenerife.
There are now strong signals that this 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 and other countries which have been less affected the entire world recession and they also now see growth in their own economies. There are no indications that Estate Agent Tenerife remain falling, perhaps the reason being the market is currently maintained by a broader selection of investors.