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 combined with the rest of Europe.
While the rest 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 unsurprising then that a lot of people consider Estate Agent In Tenerife to be just about 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 had been a popular place to go for convalescents to recuperate and gather their strength.
For individuals who do harbour a notion to maneuver to Tenerife some day, there is something that need be noted about buying property on the island. To begin with, although Spanish laws may look similar, they are certainly not necessarily just like those in the remainder of Europe.
One important thing to bear in mind is the fact that debts stick with the house; they are certainly not fixed for the previous owner. This means when the seller has run up thousands of Euros in tax, community fees or utilities, these bills would accrue towards the new owner unless these are cleared prior to the sale goes through. To ensure that you can find no nasty surprises the home buyer must ask for a Nota Simple.
In Spain, the document which matches the Title Deed throughout the uk 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 needs to be paid on the Hacienda. As your estate agent will counsel you, Transfer Tax is 6.5% from the sale price except in the case of a whole new property where there will be 5% IGIC (Canarian tax) to cover and .75% Transfer Tax.
That you have bought a new property, you should pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the new buyer has to have his name recorded at the land registry and all of the bills then must be transferred in to the name in the new property owner.
There are more things to watch out for when purchasing Tenerife property, particularly that the property you happen to be buying is actually legal. In some instances, houses which can be on rural land may not be 100% above board. The Tenerife government will not be averse to bulldozing illegal structures to the ground and fining the owners so it is vital that anyone thinking about buying Tenerife property seeks the recommendations and support of the experienced and professional Estate Agent In Tenerife.
You can find all sorts of reasons behind moving to Tenerife nevertheless the key to settling successfully on the island is finding the right accommodation. See the latest up-to-date Tenerife properties for sale on The Tenerife Property Guide.
You can find far fewer properties on the market in Tenerife than there were 3 years ago, why? Most homeowners in Tenerife purchased to experience an additional home under the sun, a lot of those buyers had a lasting plan, and many looked forward to a continued development in property prices. This can also be attributable for the Government limiting development way back in 2003 so there has not been an enormous oversupply of the latest properties being built-in Tenerife. Also, we have now seen many properties for sale withdrawn from your market in the past twelve months because those vendors do not require to market confused.
If you know anything about Tenerife you will probably already bear in mind that it offers one of the better climates on earth as well as its unique Anglo-Canarian combination of culture makes it probably the most popular ekybpv
destinations on the planet. Which is the major reason why people purchase 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 along with other countries which have been less affected the planet recession and they also now see growth in their economies. You will find no indications that Tenerife Estate Agent are still falling, perhaps this is because the market is now maintained by a broader range of investors.