Of all the things 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 most of Europe grinds to some halt within blanket of snow, Tenerife remains warm with perhaps a brisk breeze to remind residents of colder climes home. It’s not surprising then that a lot of people consider Estate Agent In Tenerife to be just about the most desirable locations to which to retire. The nice and cozy dry weather conditions are kind to old bones in reality for several years Los Cristianos had been a popular place to go for convalescents to recuperate and gather their strength.
For those who do harbour a notion to move to Tenerife one 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 the same as those in the rest of Europe.
Something to bear in mind is the fact debts stick with the property; 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 for the new owner unless these are cleared before the sale experiences. To ensure there are no nasty surprises the house buyer must request a Nota Simple.
In Spain, the document which matches the Title Deed in the UK is known as the Escritura. This should be formalised by a Notary and then any Withholding Tax if the seller not resident in Tenerife needs to be paid at the Hacienda. As the estate agent will counsel you, Transfer Tax is 6.5% from the sale price except with regards to a new property where there will be 5% IGIC (Canarian tax) to pay for and .75% Transfer Tax.
Where you have purchased a new property, you should pay 5% Canarian VAT (IGIC) and .75% Transfer Tax (ITP.AJD). Lastly, the newest buyer should have his name recorded at 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 choosing Tenerife property, particularly that the property you might be buying is in fact 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 ground and fining the owners so it is crucial that anyone thinking about buying Tenerife property seeks the recommendation and support of the experienced and professional Estate Agent In Tenerife.
You can find all types of reasons behind moving to Tenerife but the answer to settling successfully on the island is choosing the best accommodation. See the latest up-to-date Tenerife houses for sale on The Tenerife Property Guide.
You can find far fewer properties on the market in Tenerife than there have been 3 years ago, why? Most homeowners in Tenerife purchased to take pleasure from an additional home under the sun, a lot of those buyers had a long term plan, and a lot looked to a continued increase in property prices. This will also be attributable towards the Government limiting development way back in 2003 so there has not been a tremendous oversupply of the latest properties being built-in Tenerife. Also, we now have seen many properties for sale withdrawn from the market during the past 12 months because those vendors do not require to sell confused.
Once you know anything about Tenerife you will likely already be aware that it provides one of the best climates on the planet and its unique Anglo-Canarian blend of culture makes it one of the most popular ekybpv
destinations in the world. This is the major reason why people buy a house in Tenerife.
Nowadays there are strong signals that the property slump in Tenerife has bottomed out, so 2011 could see positive growth in property prices, why? Tenerife is quickly becoming a Mecca for property buyers from Scandinavia, Russia, Eastern Europe and other countries which have been less affected the planet recession and they now see growth in their own individual economies. There are no indications that Estate Agent Tenerife continue to be falling, perhaps it is because the market is now maintained by a broader range of investors.