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 combined with the rest of Europe.
While the rest of Europe grinds to your halt under a blanket of snow, Tenerife remains warm with perhaps a brisk breeze to remind residents of colder climes home. It’s unsurprising then that a lot of people consider Tenerife Estate Agent to be one of the most desirable locations to which to retire. The nice and cozy dry climate is kind to old bones actually for several years Los Cristianos was a popular place to go for convalescents to recuperate and gather their strength.
For individuals who do harbour a notion to move to Tenerife 1 day, there is something that need be noted about buying property on the island. For starters, although Spanish laws may look similar, they are certainly not necessarily exactly like those who work in the remainder of Europe.
One important thing to remember is that debts stick with the house; they are not fixed to the previous owner. Which 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 they may be cleared ahead of the sale experiences. To make sure that you can find no nasty surprises the property buyer must request a Nota Simple.
In Spain, the document which corresponds to the Title Deed in the united kingdom is referred to as the Escritura. This has to be formalised with a Notary and any Withholding Tax in case the seller not resident in Tenerife needs to be paid in the Hacienda. When your estate agent will counsel you, Transfer Tax is 6.5% in the sale price except when it comes to a whole new property where there will be 5% IGIC (Canarian tax) to cover and .75% Transfer Tax.
In which you have obtained a new property, you will have to pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the brand new buyer has to have his name recorded on the land registry and all the bills then must be transferred to the name of the new property owner.
There are many things to watch out for when choosing Tenerife property, particularly that the property you might be buying is actually legal. Sometimes, houses which can be on rural land will 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 crucial that anyone interested in buying Tenerife property seeks the recommendations and support of an experienced and professional Estate Agent In Tenerife.
There are all types of reasons for moving to Tenerife but the factor to settling successfully on the island is choosing the right accommodation. Look at the latest up-to-date Tenerife properties for sale on The Tenerife Property Guide.
There are far fewer properties on the market in Tenerife than there were 3 years ago, why? Most homeowners in Tenerife purchased to enjoy another home under the sun, many of those buyers had a lasting plan, and a lot looked forward to a continued development in property prices. This may also be attributable to the Government limiting development back in 2003 so there has not been a tremendous oversupply of the latest properties being built-in Tenerife. Also, we have seen many properties for sale withdrawn from the market during the past 12 months because those vendors do not need to market at a loss.
If you know anything about Tenerife you will probably already be aware that it offers among the best climates on the planet as well as its unique Anglo-Canarian blend of culture makes it probably the most popular ekybpv
destinations in the world. Which is the main reason why people purchase a house in Tenerife.
Nowadays 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 along with other countries which were less affected the planet recession plus they now see growth in their economies. You can find no indications that Estate Agent Tenerife continue to be falling, perhaps this is because the current market is currently backed up by a broader range of investors.