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 most of Europe grinds to a halt under a blanket of snow, Tenerife remains warm with maybe a brisk breeze to remind residents of colder climes home. It’s not surprising then that a lot of people consider Estate Agent Tenerife to be probably the most desirable locations which to retire. The warm dry weather conditions are kind to old bones actually for many years 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 one day, there is something 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 most of Europe.
One thing to bear in mind is that debts stick with the home; they are not fixed for 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 for the new owner unless they are cleared ahead of the sale goes through. To ensure that you can find no nasty surprises the property buyer must ask for 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 a Notary and any Withholding Tax should the seller not be resident in Tenerife needs to be paid at the Hacienda. When your estate agent will counsel you, Transfer Tax is 6.5% in the sale price except in the case of a whole new property where there will be 5% IGIC (Canarian tax) to pay for and .75% Transfer Tax.
Where you have purchased a new property, you will have to pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the newest buyer must have his name recorded on the land registry and all sorts of the bills then need to be transferred in to the name in the new property owner.
There are other things to watch out for when choosing Tenerife property, particularly that the property you are buying is actually legal. In some instances, houses which 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 very important that anyone thinking about buying Tenerife property seeks the recommendations and support of an experienced and professional Estate Agent Tenerife.
You will find all sorts of factors behind moving to Tenerife however the key to settling successfully on the island is finding the right accommodation. Look at 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 sun, a lot of those buyers had a lasting plan, and most looked forward to a continued growth in property prices. This can also be attributable towards the Government limiting development way back in 2003 so there has not been a tremendous oversupply of new 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 require to sell at a loss.
If you know anything about Tenerife you will probably already remember that it has one of the better climates on the planet and its unique Anglo-Canarian mixture of culture has made it one of the most popular ekybpv
destinations in the world. This 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 development in property prices, why? Tenerife is quickly becoming a Mecca for property buyers from Scandinavia, Russia, Eastern Europe as well as other countries which have been less affected the entire world recession and they now see growth in their own individual economies. You will find no indications that Tenerife Estate Agent are still falling, perhaps this is because the marketplace has become backed up by a broader variety of investors.