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 rest of Europe grinds to your halt under 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 a lot of people consider Estate Agent In Tenerife to get probably the most desirable locations to which to retire. The warm dry climate is kind to old bones actually 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 is something which need be noted about buying property on the island. For one thing, although Spanish laws may look similar, they are not necessarily exactly like those in most of Europe.
Something to bear in mind is that debts stick to the property; they are not fixed towards the previous owner. That means when the seller has run up thousands of Euros in tax, community fees or utilities, these bills would accrue for the new owner unless these are cleared ahead of the sale goes through. To ensure 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 known as the Escritura. This has to be formalised by a Notary and any Withholding Tax in case the seller not really resident in Tenerife has to be paid at the Hacienda. As your estate agent will give you advice, Transfer Tax is 6.5% of the sale price except with regards to a brand new property where there will be 5% IGIC (Canarian tax) to pay for and .75% Transfer Tax.
That you have bought a new property, you will have to pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the newest buyer has to have his name recorded in the land registry and all sorts of the bills then need to be transferred in to the name of the new property owner.
There are more things to take into consideration when choosing Tenerife property, particularly that the property you might be buying is actually legal. In some cases, houses which are on rural land might not be 100% above board. The Tenerife government is not averse to bulldozing illegal structures to the floor and fining the owners so it is vital that anyone interested in buying Tenerife property seeks the recommendation and support of an experienced and professional Estate Agent In Tenerife.
There are all sorts of factors behind moving to Tenerife however the key to settling successfully on the island is choosing the best accommodation. View 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 home owners in Tenerife purchased to experience another home under the sun, many of those buyers had a long term plan, and many looked toward a continued increase in property prices. This will also be attributable towards the Government limiting development way back in 2003 so there is not a tremendous oversupply of new properties being built-in Tenerife. Also, we have now seen many houses for sale withdrawn from the market during the past twelve months because those vendors do not require to market confused.
If you know anything about Tenerife you will likely already be aware that it offers one of the best climates in the world as well as its unique Anglo-Canarian combination of culture has created it probably the most popular ekybpv
destinations in the world. 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 along with other countries which were less affected the planet recession plus they now see growth in their own individual economies. There are no indications that Tenerife Estate Agent continue to be falling, perhaps the reason being the current market is now supported by a broader selection of investors.