Of all the things which 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 the rest of Europe grinds to a halt under a blanket of snow, Tenerife remains warm with perhaps a brisk breeze to remind residents of colder climes back home. It’s not surprising then that so many individuals consider Tenerife Estate Agent to get probably the most desirable locations to which to retire. The warm dry climate is 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 people who do harbour a notion to maneuver to Tenerife 1 day, there are certain things that require 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 the rest of Europe.
One important thing to bear in mind is the fact debts stick with the house; they are not fixed towards the previous owner. Which means when the seller has run up thousands of Euros in tax, community fees or utilities, these bills would accrue to the new owner unless they are cleared ahead of the sale undergoes. To make sure that there are 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 called the Escritura. This has to be formalised by a Notary and then any Withholding Tax should the seller not resident in Tenerife has to be paid at the Hacienda. When your estate agent will give you advice, Transfer Tax is 6.5% of the sale price except when it comes to a whole new property where there will be 5% IGIC (Canarian tax) to cover 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 must be transferred in to the name of the new home owner.
There are more things to take into consideration when buying Tenerife property, particularly the property you are 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 very important that anyone thinking about buying Tenerife property seeks the recommendations and support of the experienced and professional Estate Agent In Tenerife.
You will find all kinds 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.
You will find far fewer properties on the market in Tenerife than there were 3 years ago, why? Most property owners in Tenerife purchased to experience a second home under the sun, many of those buyers had a lasting plan, and a lot looked toward a continued growth in property prices. This can also be attributable towards the Government limiting development way back in 2003 so there is not a tremendous oversupply of new properties being integrated Tenerife. Also, we now have seen many houses for sale withdrawn from the market during the past one year because those vendors do not require to promote confused.
Once you know anything about Tenerife you will likely already remember that it provides one of the best climates on the planet as well as its unique Anglo-Canarian combination of culture has made it one of the most popular ekybpv
destinations in the world. That 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 that have been less affected the world recession and they now see growth in their economies. You can find no indications that Estate Agent Tenerife are still falling, perhaps the reason being the current market has become maintained by a broader selection of investors.