Useful Information - Tenerife Alizés Properties
Buying a Property in Tenerife
Buying a property in Tenerife is not complicated as long as the correct procedures are followed and a responsible agent is used. Tenerife Alizes Properties offers a full service including arranging all sale details, organising new contracts with service providers (electricity, rates, community fees etc) and introducing you to a local lawyer (if required).
What to do after the sale is agreed
- Having chosen your property and agreed terms and method of payment, you will be asked to place a 10% deposit in our "Clients holding account" - this will ensure that your money is held safely until completion and the property can be taken off the market. If you are buying a brand new property or one "off-plan" the deposit terms may be different and may involve stage payments through to completion. We carry out a legal search at the Land Registry to ensure that the property is debt free (in Spanish Law all debts belong to the property, not the person). You will be asked to sign a Contract of Agreement to buy the property at the agreed price and to complete the purchase by a mutually agreed date.
- A few days before completion you will be asked to pay the outstanding balance into our "Clients' holding account" to ensure funds are cleared by the agreed completion date.
- On the day of completion will will be taken to the Notary to sign the new deeds.
- You will be responsible for all charges (water, electricity, rates, community fees etc) from the date of completion. You are now the owner of your new property in Tenerife, congratulations !
Legal Costs
You should budget for a maximum of 10% of the purchase price to cover all legal costs such as property purchase taxes , notary fees, land registry and conveyancing costs.
Getting a Mortgage in Spain
We can help with introductions to appropriate local Banks and Mortgage providers to suit your particular needs. Si necesita una hipoteca podemos ponerle en contacto con diversos profesionales de la banca para que estudien su caso particular y le asesoren lo mejor posible.
Obligatory Requirements to Buy in Tenerife
- Open a Spanish bank account You will need a Spanish Bank Account to pay your bills by Direct Debit:- electricity,water, telephone, local taxes and, if you have one, your mortgage. Again, we can help you set this up locally.
- Get a NIE number this will be done at the local Police station, allocating you a “fiscal” number which will be your identification with the local authorities. We can prepare the documentation for you or accompany you at the Police station if required.
Selling your Property
We offer a full service to clients wishing to sell their property. In addition to matching your property to the requirements of clients who have registered with us, we will advertise your property, free of charge, in local newspapers and publications (English Language and Spanish), on our multi-lingual website: www.tenerifealizesproperties.com, on other appropriate websites and social media such as Facebook. We will visit your property, give you a valuation and take photographs for advertising and particulars. This visit gives us the opportunity to view the property and gain full information to aid the sales process. When we have a client interested, we will telephone you for an appointment to view and personally escort the client around your property. If you are unavailable or abroad, we can hold keys to your property on your behalf so that every opportunity to sell your property is taken. Once we have a confirmed purchaser, we will prepare a pre-sale contract for them to sign and take a 10% deposit from them, which we will hold until the completion of the sale. You will also be required to sign this contract, which will state the agreed sale price and proposed completion date. This contract binds both parties to the sale and purchase of the property.
Documents you will need to provide
We will ask you to provide the following documents: your passport/NIE, Title Deeds, last utility bills, local tax receipts, in order to check all the payments are made up-to-date. From the 1st of June 2013, the new Property Energy Law (Royal Decree nº 235/2013 of 05/04/12) obliges every owner who is selling his property in Spain to obtain an Energy Efficiency Certificate which will be asked when advertising the property and oblitarory at the completion at Notary. Ask us for more information, we can help you get this Certificate.
Retention Taxes
If you are a non-resident in Tenerife, you will have a Tax Retention Fee of 3% of the sale price of the property. The tax retention fee will be taken from you at the Notary. However if you are a resident of Tenerife, then you will not need to pay the 3% tax retention as you will be expected to be making your own tax returns on a regular basis. Then you will be asked to bring the proof of your tax situation in Spain to avoid paying this 3% retention.
Long Term Rentals
Owners
At Tenerife Alizes Properties we provide owners -both local and overseas- with a comprehensive Property Management Service which can be tailored to particular needs. Whatever the size of your property - from studio apartments to townhouses and large villas, or premises - we can provide top quality services to meet your requirements quickly and effectively. These services can include: *Preparing your property for letting; *Monitoring maintenance works and repairs e.g. painting, decorating, plumbing, electrical works; *Arranging cleaning and laundry services; *Finding tenants; *Preparation of all rental contracts; *Rent collection and accounting; *Preparation and checking of Inventories. For further information and to discuss your individual needs please contact us by email ( info@tenerifealizesproperties.com), telephone us or call in at our office.
Tenants
Either you can look at our list of Current Properties for Rent on our website or at our office and contact us to arrange a viewing or let us know your requirements and we will look to provide you with a list of options to consider.
Property Rental Prices, Terms & Conditions
Please note that the prices quoted for property rentals are in Euros (€) per month and based on long term rental contracts (normally 6 months renewable). When a property is advertised as “inclusive” this means that bills for electricity and water are included up to a monthly limit to be agreed in advance. Please note - long term rental properties can only be reserved a maximum of 1 month in advance and then subject to a holding deposit.
WHY CHOOSING TENERIFE
Tenerife is called the Island of Eternal Spring maintaining a very pleasant subtropical climate all year round. With its black and white sandy beaches, clear blue waters and friendly people, Tenerife is the largest of the Canary Islands and the most varied in landscape. It is dominated by Mount Teide, at over 3700m the highest mountain in Spain, with its moonscape of craters and lava fields, exotic flora and fauna and banana plantations. It has been an ideal scenery for ones of the best Hollywood productions (Planet of the Apes, Wars of Titans) and other famous TV publicity spots. Whilst the lifestyle is relaxed, the Tenerifians love to socialise and every month there seems to be a Fiesta in one or another town or village! The Mardi Gras Carnival in Santa Cruz around end of January to March (depending on the date Easter falls), which lasts for about 10 days, is reputed to be the second or third biggest in the world. Most of the other towns on the Island celebrate carnival too-equally exciting and great fun-just a little smaller than the event in the capital!! Property prices in Tenerife remain significantly lower than in mainland Spain, France, the UK and the rest of Europe and so represent excellent value for money. There is also a strong rental market which makes Tenerife an excellent place to invest.
It may be a part of Spain, but lying 65 miles off the coast of West Africa, the feel of Tenerife is distinctly sub-tropical. The island`s fertile north, somewhat wetter and more humid than the South, is a land of misty pine forests and tropical vegetation. Here the capital Santa Cruz is a haven for shopping with a host of historical sights and museums to explore. Santa Cruz is a also a business centre, and the Harbour is well developed to receive international cruises on a regular basis. From the centre of the island rises the Teide national park, a landscape of amazing cliffs and rock formations, whose volcanic summit, topped with snow in the winter months, has become the island`s trademark. Across the hot, arid South stretches a seemingly endless expanse of desert-like wilderness reminiscent of a lunar landscape. This is where the most popular tourist hotspots lie, at the lively resorts of Playa de las Americas, Los Cristianos and the beaches of the Costa Adeje. Round the corner, on the South East coast you will find quieter resorts like Golf del Sur and more typically Canarian villages like Los Abrigos and El Medano. The choice is yours!
Although the resident population of Tenerife barely falls short of one million, this figure increases more than fivefold each year with the arrival of visitors from across Europe and beyond, making it the busiest holiday destination in the archipelago. The age old ingredients of sun, sea and sand, the ultimate antidote to stress, are found in abundance in Tenerife so it`s little wonder thousands of British and other European people have made their homes here. Despite a growing demand for holiday homes on what is a small island, prices have remained extremely competitive here compared with mainland Spain. With substantially warmer winters here than on the mainland, property owners can also enjoy the advantage of a longer letting season if they decide to rent out their property if on registered tourist complexes.
Aside from the obvious appeal of its sandy beaches, tempting restaurants and cosmopolitan nightlife, Tenerife has so much dramatic landscape to explore that it`s almost criminal not to get out and enjoy the great outdoors. The ocean beckons with opportunities to enjoy dolphin watching, scuba diving and fishing, while the mountainous interior is the perfect location for walking, horse riding or quad biking. For the adventurous there`s always something more challenging on offer, no matter what your level of expertise, whether you enjoy exploring volcanic caves, perhaps a spot of abseiling, or even trying your hand at canyoning.
With regular flights to Tenerife South Reina Sofia airport available from all major European Round the corn airports with all the well-known budget airlines, investing in property here has never been more appealing. Anyone interested in buying a second home in Tenerife should take heed of advice to research all possible locations very seriously rather than simply opting for a home in the resort where they have stayed on holiday. It`s certainly worth taking a thorough tour of the island to uncover its most spectacular locations, ranging from seafront clifftops to remote mountain villages, as well as to appreciate the amazing variety of property styles on offer.
Sports and leisure activities:
Few places can offer the style of life enjoyed here and at such an affordable price. PGA Tour Championship golf courses, excellent watersports (El Medano has hosted the many International windsurfing championships), wonderful scuba diving, tennis, unrivalled hiking and cycling -to name but a few! Touring is most enjoyable as Tenerife is sufficiently large and varied to ensure it will take you a long time to really get to know the island. For the "party animals" there are excellent night clubs to suit all ages and styles. If you are interested in culture, there are many art galleries, churches and, of course, the Santa Cruz modern Auditorium and the Teatro Guimera , the 19th Century Opera House where you can enjoy ballet, opera, international musicals and shows, and theatre productions. Open air concerts in the summer have brought to the island artists like Elton John, David Guetta, Rod Stewart, Marc Anthony, Pitbull and many others. Horse riding, pony trekking or even camel safaris are a great way to see and explore the countryside. For water fun, you will enjoy the newest Siam Park.
Food and drink:
Eating out in Tenerife is a fabulous culinary experience, catering for all tastes and pockets! From local Canarian specialities, through an eclectic mix of African, Spanish and Latin American influences, to European cuisine and even egg and chips, the island is a gastronome´s delight! Freshly caught local fish, usually served with wrinkled Canarian potatoes is a favorite and inexpensive choice...washed down with a selection of local, award winning wines.
