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 along with the rest of Europe.
While most 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 unsurprising then that so many individuals consider Estate Agent Tenerife to get probably the most desirable locations that to retire. The nice and cozy dry climate is kind to old bones in reality for many years Los Cristianos was actually a popular place to go for convalescents to recuperate and gather their strength.
For those who do harbour a notion to move 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 not necessarily just like those who work in the rest of Europe.
One important thing to bear in mind is the fact that debts stick to the home; 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 before the sale undergoes. To ensure that you can find no nasty surprises the property buyer must ask for a Nota Simple.
In Spain, the document which matches the Title Deed throughout the uk is called the Escritura. This has to be formalised by a Notary and then any Withholding Tax if the seller not really resident in Tenerife has to be paid on the Hacienda. When your estate agent will counsel you, Transfer Tax is 6.5% in the sale price except with regards to a new property where you will see 5% IGIC (Canarian tax) to pay for and .75% Transfer Tax.
That you have bought 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 in the land registry and all of the bills then have to be transferred in to the name of the new home owner.
There are other things to watch out for when choosing Tenerife property, particularly that this property you happen to 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 interested in buying Tenerife property seeks the recommendations and support of your experienced and professional Estate Agent Tenerife.
There are all kinds of reasons for moving to Tenerife however the factor to settling successfully on the island is finding the right accommodation. View the latest updated Tenerife properties 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 home owners in Tenerife purchased to take pleasure from an additional home in the sun, many of those buyers had a lasting plan, and most 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 is not a massive oversupply of new properties being built-in Tenerife. Also, we have seen many houses for sale withdrawn through the market during the past one year because those vendors do not need to promote confused.
If you know anything about Tenerife you will probably already remember that it has one of the best climates on earth as well as its unique Anglo-Canarian mixture of culture makes it probably the most popular ekybpv
destinations on earth. 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 as well as other countries which were less affected the planet recession plus they now see growth in their own economies. There are no indications that Tenerife Estate Agent are still falling, perhaps it is because the market is now supported by a broader variety of investors.