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 home. It’s not surprising then that so many people consider Estate Agent Tenerife to become one of the most desirable locations which to retire. The warm dry weather conditions are kind to old bones in fact for several years Los Cristianos was a popular destination for convalescents to recuperate and gather their strength.
For people who do harbour a notion to maneuver to Tenerife some day, there are some things which need be noted about buying property on the island. For starters, although Spanish laws may look similar, they are not necessarily the same as those in the rest of Europe.
Something to bear in mind is the fact that debts stick with the home; they are certainly not fixed to the previous owner. This means in the event the seller has run up a large number of Euros in tax, community fees or utilities, these bills would accrue for the new owner unless these are cleared prior to the sale experiences. To make sure that you will find no nasty surprises the house buyer must request a Nota Simple.
In Spain, the document which corresponds to the Title Deed throughout the uk is referred to as the Escritura. This has to be formalised by a Notary and then any Withholding Tax should the seller not be resident in Tenerife needs to be paid in the Hacienda. As your estate agent will give you advice, 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 and .75% Transfer Tax.
In which 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 must have his name recorded on the land registry and all sorts of the bills then have to be transferred into the name in the new property owner.
There are many things to watch out for when buying Tenerife property, particularly that this property you might be buying is certainly legal. Sometimes, houses which can be on rural land will 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 very important that anyone considering buying Tenerife property seeks the recommendation and support of the experienced and professional Estate Agent In Tenerife.
You will find all sorts of reasons behind moving to Tenerife nevertheless the factor to settling successfully on the island is finding 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 was three years ago, why? Most homeowners in Tenerife purchased to enjoy an additional home in the sun, a lot of those buyers had a long term plan, and most looked to a continued development in property prices. This will also be attributable for the Government limiting development back in 2003 so there is not a tremendous oversupply of the latest properties being built-in Tenerife. Also, we have now seen many houses for sale withdrawn from your market during the past twelve months because those vendors do not require to sell at a loss.
If you know anything about Tenerife you will likely already be aware that it has one of the best climates in the world and its unique Anglo-Canarian blend of culture has made it just about the most popular ekybpv
destinations in the world. That is the primary reason why people buy a house in Tenerife.
Nowadays there are strong signals that the 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 and other countries that have been less affected the planet recession and they also now see growth in their own individual economies. You will find no indications that Estate Agent Tenerife continue to be falling, perhaps the reason being the market is currently maintained by a broader range of investors.