Of all the stuff 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 combined with the rest of Europe.
While the remainder of Europe grinds to a halt within 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 people consider Estate Agent Tenerife to become just about the most desirable locations to which to retire. The warm dry weather conditions are kind to old bones in fact for quite some time Los Cristianos was actually a popular destination for convalescents to recuperate and gather their strength.
For those who do harbour a notion to go to Tenerife one day, there are certain things that 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 those in the remainder of Europe.
One thing to remember is the fact debts stick to the house; they are not fixed to the previous owner. Which means in the event the seller has run up thousands of Euros in tax, community fees or utilities, these bills would accrue for the new owner unless they are cleared ahead of the sale undergoes. To ensure that you will 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 united kingdom is referred to as the Escritura. This must be formalised by a Notary and then any Withholding Tax in case the seller not resident in Tenerife must be paid in the Hacienda. As the estate agent will counsel you, Transfer Tax is 6.5% in the sale price except with regards to a brand new property where you will see 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 new buyer has to have his name recorded on the land registry and all the bills then need to be transferred to the name from the new property owner.
There are other things to take into consideration when purchasing Tenerife property, particularly that the property you might be buying is actually 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 very important that anyone thinking about buying Tenerife property seeks the recommendations and support of your experienced and professional Tenerife Estate Agent.
There are all sorts of reasons behind moving to Tenerife nevertheless the factor 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 have been 3 years ago, why? Most property owners in Tenerife purchased to enjoy an additional home in the sunshine, many of those buyers had a lasting plan, and a lot looked toward a continued growth in property prices. This will also be attributable for the Government limiting development in 2003 so there is not a tremendous oversupply of the latest properties being integrated Tenerife. Also, we have seen many properties for sale withdrawn from your market in the past one year because those vendors do not require to market confused.
Once you learn anything about Tenerife you will probably already be aware that it has among the best climates on earth and its unique Anglo-Canarian combination of culture has created it just about the most popular ekybpv
destinations on earth. That is the primary reason why people purchase a home in Tenerife.
Now there are strong signals that the property slump in Tenerife has bottomed out, so 2011 could see positive growth in property prices, why? Tenerife is fast becoming a Mecca for property buyers from Scandinavia, Russia, Eastern Europe as well as other countries which have been less affected the world recession and they now see growth in their own individual economies. You will find no indications that Tenerife Estate Agent continue to be falling, perhaps the reason being the marketplace is currently backed up by a broader range of investors.