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 the rest of Europe grinds to some 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 Tenerife Estate Agent to get just about the most desirable locations to which to retire. The nice and cozy dry climate is kind to old bones in fact for several years Los Cristianos was a popular place to go for convalescents to recuperate and gather their strength.
For those who do harbour a notion to go to Tenerife one 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 certainly not necessarily exactly like individuals in the remainder of Europe.
One important thing to remember is the fact debts stay with the property; they are certainly not fixed towards the previous owner. That means if the seller has run up 1000s of Euros in tax, community fees or utilities, these bills would accrue towards the new owner unless they may be cleared before the sale goes through. To ensure you can find no nasty surprises the property buyer must request a Nota Simple.
In Spain, the document which corresponds to the Title Deed in the united kingdom is known as the Escritura. This should be formalised by a Notary and then any Withholding Tax should the seller not be resident in Tenerife has to be paid at the Hacienda. When your estate agent will counsel you, Transfer Tax is 6.5% from the sale price except when it comes to a whole new property where there will be 5% IGIC (Canarian tax) to pay for and .75% Transfer Tax.
That you have purchased a new property, you will have to pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the new buyer should have his name recorded in the land registry and all of the bills then must be transferred to the name from the new house owner.
There are more things to take into consideration when choosing Tenerife property, particularly that this property you are buying is in fact legal. In some instances, houses which are on rural land may 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 considering buying Tenerife property seeks the advice and support of an experienced and professional Estate Agent In Tenerife.
You will find all types of factors behind moving to Tenerife however the answer to settling successfully on the island is choosing the best accommodation. Look at the latest up-to-date Tenerife houses for sale on The Tenerife Property Guide.
There are far fewer properties on the market in Tenerife than there were 3 years ago, why? Most homeowners in Tenerife purchased to take pleasure from an additional home under the sun, many of those buyers had a lasting plan, and many looked forward to a continued increase in property prices. This may also be attributable for the Government limiting development way back in 2003 so there is not a massive oversupply of the latest properties being built-in Tenerife. Also, we have seen many properties for sale withdrawn from the market during the past 12 months because those vendors do not require to sell at a loss.
Once you know anything about Tenerife you will likely already bear in mind that it has one of the better climates on earth and its unique Anglo-Canarian mixture of culture has created it just about the most popular ekybpv
destinations on the planet. That is the major reason why people purchase a home in Tenerife.
Nowadays there are strong signals the property slump in Tenerife has bottomed out, so 2011 could see positive growth in property prices, why? Tenerife is quickly becoming a Mecca for property buyers from Scandinavia, Russia, Eastern Europe and other countries that have been less affected the entire world recession and they now see growth in their own individual economies. There are no indications that Estate Agent Tenerife are still falling, perhaps this is because the market has become supported by a broader selection of investors.