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 together with the rest of Europe.
While most 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 home. It’s unsurprising then that so many individuals consider Estate Agent In Tenerife to become just about the most desirable locations to which to retire. The nice and cozy dry climate is kind to old bones in reality for several years Los Cristianos was a popular place to go for convalescents to recuperate and gather their strength.
For people who do harbour a notion to go to Tenerife some day, there are certain things 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 those in most of Europe.
Something to remember is the fact that debts stick with the property; they are not fixed towards the previous owner. This means if the seller has run up 1000s of Euros in tax, community fees or utilities, these bills would accrue to the new owner unless these are cleared ahead of the sale goes through. To ensure that you will find no nasty surprises the home 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 should be formalised by a Notary as well as any Withholding Tax should the seller not be resident in Tenerife must be paid on the Hacienda. When your estate agent will counsel you, Transfer Tax is 6.5% from the sale price except in the case of a brand new property where there will be 5% IGIC (Canarian tax) to pay for and .75% Transfer Tax.
That you have obtained a new property, you should pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the brand new buyer should have his name recorded at the land registry and all sorts of the bills then have to be transferred into the name in the new home owner.
There are more things to watch out for when buying Tenerife property, particularly the property you happen to be buying is certainly legal. In some cases, houses which can be on rural land may 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 recommendations and support of your experienced and professional Estate Agent In Tenerife.
There are all types of reasons behind moving to Tenerife but the key 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 three years ago, why? Most homeowners in Tenerife purchased to experience another home in the sun, many of those buyers had a lasting plan, and most looked toward a continued development in property prices. This can also be attributable towards the Government limiting development back in 2003 so there has not been an enormous oversupply of new properties being built in Tenerife. Also, we have seen many houses for sale withdrawn from the market in the past twelve months because those vendors do not require to promote confused.
If you know anything about Tenerife you will probably already remember that it provides one of the better climates on earth along with its unique Anglo-Canarian combination of culture makes it just about the most popular ekybpv
destinations on the planet. Which is the major reason why people purchase a house in Tenerife.
Now there are strong signals that this property slump in Tenerife has bottomed out, so 2011 could see positive development 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 and they now see growth in their own economies. There are no indications that Tenerife Estate Agent are still falling, perhaps the reason being the current market has become backed up by a broader selection of investors.