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 perhaps a brisk breeze to remind residents of colder climes home. It’s not surprising then that a lot of people consider Tenerife Estate Agent to be one of the most desirable locations to which to retire. The warm dry climate is kind to old bones in reality for many years Los Cristianos had been a popular place to go for convalescents to recuperate and gather their strength.
For individuals who do harbour a notion to go to Tenerife one 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 not necessarily just like individuals in the remainder of Europe.
One important thing to bear in mind is the fact that debts stay with the house; they are not fixed towards the previous owner. This means when the seller has run up 1000s of Euros in tax, community fees or utilities, these bills would accrue for the new owner unless they are cleared prior to the sale experiences. To ensure that you can find no nasty surprises the house buyer must request a Nota Simple.
In Spain, the document which matches the Title Deed in the united kingdom is referred to as the Escritura. This should be formalised with a Notary and then any Withholding Tax in case the seller not resident in Tenerife must be paid at the Hacienda. As the estate agent will give you advice, Transfer Tax is 6.5% from the sale price except in the case of a new property where there will be 5% IGIC (Canarian tax) to pay and .75% Transfer Tax.
That you have purchased a new property, you should pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the new buyer must have his name recorded at the land registry and all sorts of the bills then must be transferred to the name in the new property owner.
There are many things to take into consideration when choosing Tenerife property, particularly the property you are buying is certainly legal. In some cases, houses which can be on rural land might not be 100% above board. The Tenerife government is not really averse to bulldozing illegal structures to the ground and fining the owners so it is crucial that anyone considering buying Tenerife property seeks the recommendations and support of an experienced and professional Estate Agent In Tenerife.
You will find all types of reasons for moving to Tenerife however the factor to settling successfully on the island is finding the right accommodation. Look at the latest updated Tenerife properties for sale on The Tenerife Property Guide.
You will find far fewer properties on the market in Tenerife than there was 3 years ago, why? Most property owners in Tenerife purchased to take pleasure from an additional home in the sun, many of those buyers had a lasting plan, and most looked forward to a continued increase in property prices. This can also be attributable to the Government limiting development in 2003 so there has not been a massive oversupply of the latest properties being built-in Tenerife. Also, we have seen many houses for sale withdrawn through the market in the past 12 months because those vendors do not need 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 along with its unique Anglo-Canarian blend of culture has created it probably the most popular ekybpv
destinations on the planet. That is the main reason why people purchase 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 along with other countries that have been less affected the entire world recession and they also now see growth in their economies. You will find no indications that Tenerife Estate Agent continue to be falling, perhaps this is because the current market has become supported by a broader range of investors.