Of all the stuff 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 a halt under a 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 individuals consider Tenerife Estate Agent to become probably the most desirable locations that to retire. The nice and cozy dry weather conditions are kind to old bones actually for quite some time Los Cristianos was actually a popular destination for convalescents to recuperate and gather their strength.
For individuals who do harbour a notion to go 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 certainly not necessarily the same as those in the remainder of Europe.
Something to bear in mind is the fact that debts stick to the house; they are certainly not fixed to the previous owner. Which means if 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 prior to the sale undergoes. To ensure there are no nasty surprises the home buyer must ask for a Nota Simple.
In Spain, the document which corresponds to the Title Deed in the UK is referred to as the Escritura. This has to be formalised by a Notary as well as any Withholding Tax if the seller not really resident in Tenerife needs 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 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 need to pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the newest buyer has to have his name recorded on the land registry and all sorts of the bills then need to be transferred in to the name from the new property owner.
There are more things to watch out for when purchasing Tenerife property, particularly that this property you might be buying is actually legal. In some instances, houses which are on rural land will not be 100% above board. The Tenerife government is not averse to bulldozing illegal structures to the ground and fining the owners so it is crucial that anyone interested in buying Tenerife property seeks the advice and support of an 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 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 homeowners in Tenerife purchased to take pleasure from an additional home in the sun, many 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 back in 2003 so there is not a tremendous oversupply of new properties being built in Tenerife. Also, we have seen many properties for sale withdrawn from your market during the past 12 months because those vendors do not require to promote at a loss.
If you know anything about Tenerife you will likely already remember that it offers one of the best climates on earth along with its unique Anglo-Canarian blend of culture has created it one of the most popular ekybpv
destinations in the world. That is the main reason why people purchase a property in Tenerife.
Now there are strong signals the property slump in Tenerife has bottomed out, so 2011 could see positive increase in property prices, why? Tenerife is quickly becoming a Mecca for property buyers from Scandinavia, Russia, Eastern Europe as well as other countries which were less affected the world recession plus they now see growth in their economies. You will find no indications that Tenerife Estate Agent remain falling, perhaps the reason being the marketplace has become maintained by a broader variety of investors.