Buy property

Notary costs vary and depend on the value of the property, typically amounting to between 1 and 2% of the total value.

There are two main taxes: Property Tax (IBI) and Wealth Tax. Both depend on the value and location of the property.

Yes, foreigners can obtain a mortgage, with conditions depending on the bank and the client’s creditworthiness, offering financing of up to 70% of the property’s value.

Property maintenance costs vary depending on the location, size, and type of building. They include community fees, property tax, waste disposal, property insurance, etc.

If you rent out your property, you may be able to deduct some of the rental-related expenses from your taxes.

To buy a property, you will need a valid ID or passport, a NIE number (Foreigners Identification Number), and the funds to purchase the property.

The duration of the property purchase process depends on various factors, such as the availability of the property and the complexity of the transaction. Typically, the entire process takes a few weeks to several months.

Although not mandatory, having a lawyer specialized in real estate law is recommended. A lawyer will help you understand all aspects of the transaction and protect your interests.

1. • Define your expectations for the property (location, size, number of rooms, etc.).
   • Set your budget, taking into account all the costs associated with the purchase.

1. • Browse offers on our website or contact our agent.

1. • Once you select a property, you can reserve it by paying a deposit.

1. • Before signing the preliminary contract, we recommend thoroughly inspecting the property.

• Sign the preliminary contract, which commits both parties to completing the transaction.

• If you are a foreigner, you will need to obtain a Foreigners Identification Number (NIE).

• If you are financing the property with a mortgage, you must apply for one at the bank.

• Sign the notarial deed, which transfers the ownership of the property to the new owner.

• Register the property in the Spanish property registry.

• Pay all taxes and fees related to the transaction.

• Tenerife is an island offering excellent quality of life, beautiful beaches, a mild climate, low cost of living compared to other European regions, and a high standard of living.

• Tenerife has both public and private education systems. Schools offer classes in both Spanish and English.

• Tenerife offers many leisure activities such as beach outings, surfing, diving, hiking, sightseeing, and many more.