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Properties in Tenerife

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If you have fallen in love with Tenerife on your trip and consider a second home away from home, then the following information will guide you in the right direction to get you started as a new property owner.
 


When purchasing a property in Tenerife there are additional buying costs to consider and these are as follows:

Search Fees

 

 It is advisable to carry out number of searches prior to purchasing a proprerty in Canary Islands to ascertain if there are any debts outstanding on the property that you have choose. 

Purchase Tax

 

Transfer Tax (IGIC) at present 5% of the official value of the property if purchasing a new property from a developer or 6.5% when purchasing a resale.
Notary fees

 

 

 For drawing up the title deeds and researching the property. Payable to the Notary Public on signature of the titile deed.

Registry Fees

 

Once signed at the Notary offices, the Title Deeds “Escritura” must be presented in the Land Registry office where the new owner’s details are registered.
This process takes approximately one month.

Payable to the land registry office upon registration of the title deed.

Plus Valia Tax

 

The increased value of the land, which is calculated at various rates on the increasing annual value since the previous sale.
Legally the vendor is liable for the “Plus Valia” tax but in practice the purchaser is often asked to pay all fees & taxes for transferring the property.

Payable to the Local Town Hall after signature of the title deed. 

 


Los Cristianos Properties can attend to all these and other matters associated with the purchase of a property in Tenerife, including:

  • NIE numbers - SPANISH IDENTIFICATION NUMBER
  • opening bank account
  • paper work - changes - electricity, water, community fees,  etc.

 

 

 

 

Los Cristianos Properties

Av/ Los Playeros nº 27 - Los Cristianos

Arona - Tenerife


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Call us (+34) 922 79 00 09