Tenerife property is a very popular investment with UK buyers. It’s the nearest island to mainland Europe where you can get almost guaranteed winter sunshine.
Investors are buying property for their own enjoyment as well as receiving a great return on investment. Tenerife enjoys an all-year-round season so you can rent out your property at peak season prices for almost every month of the year!
Tenerife Property for Sale (Prices)
For a three bedroom, one bathroom apartment you’d pay (€195.000) approx £134.483. This property is located in a quiet location with large terraces and a communal pool.
There’s a bar/restaurant with large front terrace in a good position going for £105.000 (approx €152.250). the interior is 84m² and the exterior is 40m². It will be sold fully equipped with new electrics, extractor fan and new kitchen fridges.
Background (Tenerife Island)
Tenerife is the largest of the Canary Island archipelago. It has one of the most spectacular and diverse landscapes you’re ever likely to see – From the mighty volcanic crater “Cañadas del Teide” to the extremely fertile valleys filled with bananas and tomatoe fields.
Tenerife is clearly divided into a very dry southern part and a very humid and green north.
In the centre of the island there’s Mount Teide – Spain’s highest mountain peak (and 3rd largest volcano on earth). Often snow-capped, it contrasts dramatically with the hundreds of bikini bathers and sandy beaches.
Tenerife is a walker’s paradise. It also has some excellent mountaineering opportunities. You can enjoy warm climbing and walking during Europe’s winter months. Tenerife’s national park has many other interesting and challenging summits to try.
Other outdoor activities include; surfing, windsurfing, paragliding, camel tours, diving centres and golf.
All this under a perfect climate, it’s no wonder Tenerife is described as one of the “last paradise isles in Europe”.
New Developments on Tenerife
Here are just two examples of some of the latest new developments on the island…
1 bedroom Apartment for sale in La Caleta
South west facing one bedroom apartmeent.
Price: €215.250 (approx £148.448).
2 bedroom Apartment for sale in El Madronal
Brand new 2 bedroom, 1 bathroom apartment
Price: €280.000 (approx £193.103).
Tenerife buyers guide
Before you do anything, you should first get your N.I.E. (Numero de Identificacion de Extranjero) number. You need this if you want to open a bank account or have any other fiscal representation in Spain.
You’ll have to pay taxes and fees on all transfers of Spanish properties. The Notary will charge you a fee for preparing the Escritura and there is a further fee for registering the property in the new owners name.
In total you’ll have to pay approximately 10% in taxes and legal costs.
Capital Gains Tax is charged at various rates on the annual increase in value since the previous sale of the property.
Tenerife is suitable for all ages. It’s got amazing beaches and plenty of things to do and see. It’s an island with great potential – both as a place to live and an area to invest in. Whether you’re looking for a new development or an existing property, there are numerous multi-lingual real estate agents that can help you find it.