Tenerife Forum
Tenerife Estate Agents Leaderboard
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Company
Votes
- 1
Delmar Estate Agency872 - 2
Tenerife Property Group835 - 3
Tenerife Properties830 - 4
Tenerife Property Shop793 - 5
Vincere Homes624
Vote For Your Tenerife Estate Agent
Looking for an apartment or a luxury villa in the sun? Delmar are agents and an administration company based in the south west of the island and have been in business since 1988 making them one of the most established on the island. They cover the south and south west extensively in the areas of Los Gigantes, Playa de las Americas, Costa Adeje, and Los Cristianos, as well as all surrounding areas.
Find the right complex to buy your apartment in or the right area for that beautiful villa. Whether you're looking for one bed apartment with views, or five bedroom luxury villa with a pool, Delmar can help you get the best deal.
Contact Delmar with the confidence and security you expect from a professional service by visiting their website.
Tenerife Property Group Estate Agents in Los Cristianos help you safely buy and sell property.
They've been operational since 2010 and are well known. There are some nice property on their book for Los Cristianos, Costa Adeje, and Playa de las Amercias.
Buying a property in a complex is made easy with their knowledge and experience.
For your apartment or villa purchases, they provide a great service backed by great reviews so contact them for more details of how they can help you.
Tenerife Properties are agents based in San Eugenio in the south covering Costa Adeje, Playa de las Americas, Los Cristianos, and surrounding areas. They offer a wide selection of apartments, villas, and commercial property. Find that perfect one bed apartment with a view in a popular complex, or a luxury villa for that dream home in the sun.
Contact them for more details.
Tenerife Property Shop is a well known agent dealing with property in the Canary Islands. For that beautiful villa or apartment in the sun, or that perfect Spanish style home with land, they provide a good selection.
Your new local real estate agent with a difference, we intend to change the industry for the better here in Tenerife with our new personal & transparent service.
Contact them on their website for more information.
Wady is an agency in the south of Tenerife with more than 20 years of experience dealing in villa and apartment sales.
Check out their website for more details.
An established agency in Tenerife dealing in property. Find a property with over 400 apartments and villas sold with honesty and integrity. They cover the popular areas of Los Cristianos, Playa de las Americas, and Costa Adeje.
They can help you find that apartment with a perfect view or that dream luxury villa.
Contact them via their website for more details
Morfitt Properties are agents based in the south of the island. They have been in the sector for many years and offer apartment, villa, and townhouse sales as well as commercial property. Contact them for more details.
A boutique international real estate agency with 2 offices: in the Tenerife North in Puerto de la Cruz and in the south in costa Adeje, just nearby Puerto Colon. Agata's team speaks English, German, Russian, Polish, French, Dutch, Italian and Spanish.
Whether you're looking in the north of the island for a cozy one bedroom apartment with a view of the playa, or a premier luxury 5 bedroom villa, Agata's can help you find that perfect home.
Tenerife Royale is a leading independent property agent based on the border of Los Cristianos and Las Americas on the sunny south coast of Tenerife
Premier Properties Tenerife Sur make finding your home easy.. They have many apartments and villas on their books so if you're looking for that nice little apartment in the south, or a nice spacious villa for the family, then contact them for more details of your requirements.
Agents since 1995, excellent reputation for selling, buying, and renting out property with a wide range of property.
A Tenerife estate agent offering property for sale and rent. They provide a property repossession list so if you're on the market for an apartment or villa at discounted prices, contact them for more details of the current list.
Expert Tenerife Real Estate Agents offering properties for sale in Los Cristianos, Los Gigantes Playa de las Americas & surrounding areas in Tenerife.
Asten Realty has a large property portfolio for the island including villas, townhouses, apartments, studios and building land. Contact them for more details and information on their offers.
Find your dream property for sale in Tenerife. Buy and sell Tenerife real estate, luxury villas, fincas and apartments. Call Tenerife Sun Properties Today!
Whether you are an owner or buyer, landlord or tenant Tenerife Alizés Properties is here to help. Based at our office in the Commercial Centre at San Blas, Golf del Sur our friendly, experienced, multi-lingual team will make the process easy.
Island Prime Property is a subsidiary of the Keddy Partnership SL organisation and is consistently redefining the industry, merging a professional client-centered approach with technology and clever marketing skills to offer a personalised and exceptional service to all of our clients in order to form life-long relationships
Our goal is to continue to build a reputation as the market leader in commercial, residential and luxury estate, we rely on the strength of our innovative approach, dedicated professionalism and the unsurpassed quality of our customer service.
Buying or selling a property is a very individual experience, and we are committed to offering every client that personalised service they deserve.
Established property broker in Tenerife since 1994, with more than 25 years of experience in selling, buying and managing properties in the local housing market.
Our Tenerife real estate agents assist you with every step of buying and selling properties, from the initial search & enquiry to the key in the door to an excellent after sales service with Transparent and Professional Services. We specialise in apartments, penthouses, luxury villas and fincas.
The Tenerife real estate agent Porta Tenerife offers exclusive Tenerife properties for sale. Luxury villas, fincas and apartments – the location for your property on Tenerife.
Sale of apartments in Tenerife South. We have more than 30 years of experience selling all types of properties. Houses, villas, apartments, studios.
Real estate agent for exclusive properties in Tenerife – buy or sell properties with Engel & Völkers.
Dealing in one bed to multiple bed properties on the island as well as complex apartment sales.
Tips For Purchasing Property In Tenerife
When it comes to purchasing Tenerife property, it’s crucial that you find the right Abogado lawyer. These professionals will conduct a comprehensive search on the property chosen, secure required paperwork, ensure that the property is not encumbered by any debts, and more. Appointing an Abogado will make certain that the property is clear of any issues in advance of transfer of ownership.
Tenerife Estate Agent Tips – Key Points To Be Addressed
- A Nota Simple, or proof of ownership and encumbrances must be obtained.
- Documentation of Tenerife Ayuntamiento rates (Impuesto sobre Bienes Inmuebles) must be obtained.
- All water and electricity bills and receipts need to be current.
- Title deed, or Escritura, must be secured.
- Proof of up-to-date payment of community fees, acknowledged in writing by the owners’ community president and secretary must be secured.
- Escritura, or Title Deed must be obtained.
- Numero de Identificacion de Extranjeros (NIE) needs to be in hand before a property can be purchased in Tenerife.
Opening Bank Accounts In Tenerife
Tenerife estate agents sometimes work collaboratively with a long list of banks in Spain to make sure you can open the bank account you need in Tenerife. There is usually a nominal fee imposed on non-residents who want to open bank accounts in Tenerife for property purchases, and this covers administration costs. They will also assist in establishing direct payments so that you never have to worry about your bills being unpaid.
The cost of property insurance in Tenerife typically ranges from 150€ to 350€ annually, and some estate agents in Tenerife can provide helpful recommendations and assistance in obtaining proper coverage from reputable companies.
Buying Property In Tenerife
After you find the property you want to buy in Tenerife and have negotiated all terms with the seller, it’s necessary to pay a 10% deposit. This serves as security for the purchase and an official declaration of intent to buy.
At the time the Escritura is signed and notarised, the remaining 90% will need to be paid.
Should you decide to buy a new build, the property developer will most likely request a series of payments to be made. Each contractor will have its own set of requirements. Typically speaking, an initial deposit will be necessary within the first month of the contract, and this will likely amount to 10%. The remainder of the purchase price will need to be paid in stage payments, generally 30% when the foundation work begins, 30% once construction work reaches the level of the roof, and the last 30% due when the Escritura, or title deed, is signed.
The solicitor you choose will endeavour to conduct all of the important searches pertaining to the Tenerife property. This is done to verify that the property is in fact owned by the seller, that planning permissions are in place, and that no unpaid debts or encumbrances exist in relation to the property.
After these searches have revealed that no issues exist and the deposit money has been remitted, the title deeds will be signed by seller and buyer in the presence of the Notary.
Tenerife Property Notaria (Notary)
This is an individual who possesses the necessary qualifications and is accredited by the Spanish government to serve as a witness when legal documents are executed. In the context at hand, a Notary will be needed when the title deed is signed. Notaries can witness both buyer and seller’s signatures. The fees paid to the Notary are established by law and are dependent on how much the property costs. These fees are due when the relevant document is being signed.
Original documents are kept by the Notary, who then makes a formal adjustment to the land registry in Tenerife. Purchasers receive a legally binding copy of the Escritura, and this is signed and sealed by the Notary. It can take some time for this title deed to be fully processed, and this copy functions as official evidence of ownership until that occurs. The copy should be kept secure in the interim.
Taxes And Legal Expenses For Property Purchases In Tenerife
On top of the selling price of the Tenerife property, taxes and other legal costs for a transfer of this type will likely run about 8-10% of the total sale price. These expenses will include:
General Transfer Taxes for Tenerife Property Purchases
The purchaser of the Tenerife property is responsible for paying this amount, which is 6.5% on a resale property. It’s necessary to pay this tax within 30 days of the signing of the Escritura.
ITP tax will be calculated based on the amount the value of the property has increased since its last sale date. This is a one-time payment that is set in relation to the ratable property value at the time.
For new construction properties, the payable tax is 7% IGIC of the stated value found on the title deed. This tax was previously set at 5%, but was increased to 7% back in 2012.
Stamp Duty For Tenerife Properties
Anytime a new property is purchased, a document registration fee will also be imposed. This comes to 0.75 percent of the purchase price of a new build.`
Notary Fees For Property
These costs are fixed and determined by the purchase price of the property.
Tenerife Property Registration Office Fees
Plus Valia Taxes are calculated and levied by the local Town Hall, and they are related to the land’s surface area, the annual property value increase since its prior sale, and other factors.
I.B.I. council rates will also need to be paid on property transfers in Tenerife. This is similar to the rate system in England in years past, and is set based upon the catastral property value, which is set by local authorities.
This tax is paid on an annual basis in Tenerife, and tends to be more affordable than in other areas of Europe.
Property Fees Imposed By Localities
Certain complexes carry their own community charges meant to pay for maintenance, amenities, gardens, security services, and other similar expenses. The final cost will depend on how large the community is, but averages tend to be in the 800-1200 per year range. There are complexes that do not pool monies for the provision of services, and these areas may levy just a small charge for lighting of the streets. This can be payable on a monthly or perhaps a quarterly basis.
Residency Status Considerations
In terms of taxation, an individual who lives in Tenerife for at least 182 per calendar year will be classified as a resident. Those who live in Tenerife for fewer than 182 days in Spain, the Canary Islands or Tenerife will be declared non-residents.
Non-Resident Taxes
Those declared to not be residents of Tenerife but who also own property in the area will be required to pay an annual tax at a rate of 24.75%. This rate was raised from 24% in 2012. If a given property is owned by a married couple, it is required that each spouse file an individual tax return for non-residents.
Calculations of payable rates can be done by taking the Valor Catastral (found on local rates receipts) and multiplying it by 1.1% if the value has changed since 1994. This must then be multiplied by 24.75% in order to reach the full amount payable. This is to be paid each and every year for the amount due from the prior calendar year.
It should be noted that the Valor Catastral is typically set at a rate that is far lower than the true market price of the property at issue.
Patrimonial Wealth Taxes
These taxes are annual in nature and need to be paid by those who buy property and who also have assets of at least 700,000 Euros. This wealth tax is determined based on personal holdings that include bank account funds as well as real estate. For non residents, this tax is based just on assets within Spain.
While this tax was at 0% back in 2008, it was reintroduced over a decade later. The tax must be paid annually for the prior year, and the percentage of tax varies between 0.2% and 2.5%, depending on the total wealth level involved. For properties owned together by a husband and wife, there must be separate wealth tax returns filed.
Wealth tax is determined on the highest value of either the Escritura value or the Valor Catastral.
FAQs For Property In Tenerife
What Does A Sales Agreement Involve?
In essence, this is a private agreement entered into by the seller and the purchaser of a property. It needs to include the names of the owners, legal description of the property, specific dates of necessary deposits, designation of the currency to be used, and any penalty terms related to the deal.
What If My Desired Property Is Mortgaged?
If a mortgage exists on the property, the buyer’s agent will need to do some work in advance of Escritura signing to notify the mortgage bank that it needs to determine cancellation fees and how much interest and principal remains due from the seller.
On the date of transfer, a bank draft must be prepared in order to cover all amounts due to the bank. It’s important that after the bank has been fully paid, that the buyer ensures that the cancellation of mortgage documentation is properly filed with the Land Registry.
Must We Pay Taxes Upon Selling A Property?
Tenerife tax law requires that buyers withhold a total of 3% of the sales price listed on the property deed so that it can be paid to the tax office if the property has been purchased from a non-resident. Spanish tax authorities will enforce this provision to makes sure of full compliance. This works to make certain that there are no private or public debts outstanding to anyone within Spanish territory.
After any existing debts have been paid from this 3%, the non resident seller can then instruct his or her fiscal representative to get a refund of any monies that remain after payment of tax bills and capital gains amounts.
Capital Gains Assessments
On April 5, 2013, the Spanish Government passed its Energy Efficiency Law, otherwise known as Royal Decree 235/2013.
As a result, every property in Tenerife that is put up for sale will have to obtain a Certificado de Eficiencia Energetica (CEE). These Energy Performance Certificates must be presented to property buyers as well as the Notary at the time of transfer.
Energy rating certifications related to this requirement need to be included as part of any real estate marketing or advertising that Tenerife estate agents use to facilitate sales. Again, complete compliance with these rules is essential to making certain that any property sales or purchases processed within Tenerife goes as smoothly as possible and to prevent unnecessary delays.
Purchasing property in Tenerife is a dream for so many individuals who live or want to live on the island. Of course, the process is not always as straightforward as people expect, and that’s why it’s a good idea to get professional assistance. Not everyone who wants to buy property on the island understands the subtleties and local requirements, and as such, the expertise of a property professional is not a luxury, but rather a necessity.
The good news is that given the popularity of purchasing properties in Tenerife, numerous professionals who can provide this type of service exist and are able to offer the local knowledge and skills the situation requires. In order to find just the right person to help with a property transfer transaction, speak to people who have had prior experience and they may give legitimate recommendations and to help you even more, this page lists well established estate agents in Tenerife who have been voted for by the public, many of whom are now happy property owners in Tenerife.
Once you’ve found a few prospective estate agents, you can then set up in person meetings as a way of being sure that they are a good match for your needs. Because local knowledge is vital for an effective and smooth transaction, this is a factor that needs to play a major role in the selection process.
Having your financial affairs in order ahead of shopping for Tenerife properties is also a wise move, given the relatively complex nature of tax regulations, particularly those related to the wealth tax. This can help buyers avoid complications down the road that may make owning property abroad a far more expensive proposition than it might otherwise be.
Finding an effective agent to assist with a property purchase need not be an overwhelming task. Local estate agents, expats and others are almost certain to have high quality referrals for those ready to make the leap but to get the best out of this page, have a look at the estate agent list above that have been voted for and recommended organically so that you start your search on the right footing.
Happy home hunting!
