Explore the Prospects of Buying Property in Tenerife

One may wonder what makes property buying in Tenerife a craze amongst Europeans. Yes, the reason is none other than the fantastic climate and the soul-stirring ambience prevalent in Tenerife, Spain.

When you analyse the statistics you will come to know that majority of property buyers in Tenerife are from Europe especially from United Kingdom. Buying a property in Tenerife, Spain has become an addictive prospect for many Europeans.

Many people are initially attracted by the serene nature of the island and fall for buying an apartment for their own use during vacations. They also let out their apartments for meeting their mortgage commitments.

Many who bought apartments for small time use during vacations get so engrossed in the scenic beauty and the comfortable living they start yearning for a permanent settling in Tenerife itself.

Tenerife is like a heaven on earth for those people who like smoking, drinking and eating out. The cost of such things is also very cheap and is only one third of the costs prevalent in UK.

New Tenerife property owners very soon get accustomed to the prevailing culture of eating out, as one may have to spend only ten pounds for a good meal with ample wine and usually a free liqueur to finish.

If you make up your mind to go for that fascinating buy, then decide your budget and the location of the property within Tenerife.

Many persons who visited Tenerife and stayed there normally end up buying property near a place where they stayed probably to hold their first ever-wonderful experiences in their memory forever.

The procedure involve in buying a property in Tenerife is totally different from that of buying in United Kingdom.

The rules governing acquisition, languages used in transactions, related paper works, etc., are different.

For example when you buy an apartment in Tenerife, you not only just buy the apartment but also share pathways, swimming pools, lifts and all other facilities that are part and parcel of the complex.

Relative costs of these items are worked out on a percentage basis and added to the original cost accordingly.

Further, as a property owner you are also supposed to acquire a national ID by name NIE or Residencia to move into Spain.

This is one of the fundamental conditions to be fulfilled and you need to submit a photocopy of your passport and four numbers of passport sized photographs for this purpose.

Check out the location and ascertain whether all the facilities that you may require during your vacation or stay are available near by.

Talk to the local police or the local government about all the necessary paper works that would be needed for all the proposed transactions.

Ensure that you comply with all legal formalities so as to have a clear title over the property.Prepare your finances. Check out all the taxes that you may need to pay.

Arrive at the quantum of other expenses. Make sure that you have enough money to cover everything so that your stay in Tenerife is pleasant.


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