- Can foreigners buy properties on Tenerife?
Yes, they can.
- Why shall I buy a property in Tenerife?
You have numerous reasons to take this decision. First of all, it’s a great and smart investment. There’s has been a very serious rise in foreigners in buying homes in Tenerife recent years. Thinking of the business potential, the location of the island is unbeatable. Also you can evaluate your investment as rental. The Real Estate market is in an inevitable rise. If you buy property in Tenerife, you’ll benefit plentiful conditions.
- How can I find a house on Tenerife?
You need a qualified and reliable expert. In other words, you need a real estate/property consultant. Your consultant has to be the perfect guide in every step. This expert will lead you to the options according to your needs. Be sure that your consultant is experienced and has a wide, up-to-date portfolio. A good consultant can absolutely find the best option for you.
- Does it take too long to get the title deed after purchasing?
If it’s a finished project, it won’t take too long. Mostly after 6 working days, you can have your title deed.
- What are the other expenses while buying?
Purchase tax, VAT and stamp tax are the ones you have to pay just for once. Then you’ll have expenses, which you have to pay regularly like water, gas, and electricity. There will be also annual (insurance, tax) and monthly expenses. Every real estate project has its own monthly expense rates. Your property expert will inform you in details before your decision.
- Do I have to visit Tenerife to purchase a property?
No, you don’t have to. Via your real estate consultant’s website you can pick your options and let your consultant know. Afterward, he will give you the details and the offer. Your property expert shall use all digital communication tools efficiently if you prefer proceeding digitally.
- Can foreigners have a bank account on Tenerife?
Yes, they can. Your valid passport, NIF number and gas, water or electricity bill (to show your address) will be enough to open an account at most of the banks on Tenerife.
- If I buy a property onTenerife, will it be freehold?
Yes, it will be a freehold property.
- Who sells properties on Tenerife? How will I know he is trustable?
You have to be very careful about this issue. Don’t trust everyone who says that he sells properties. You need an authorized and certified property expert / real estate consultant. Be sure that the services your consultant offers are all legally permitted.
- Do I have to insure my property on Tenerife?
Yes. There are different insurance needs and musts, some are optional. We are capable to guide you also about the insurance process.
- What are the profitable locations on Tenerife?
There are so many areas evolving and changing in Tenerife. In recent years, almost every project on any location is attractive to investors because of the urban renewal. Anyway, your real estate consultant will inform you about the latest popular districts.
- Can you plan my trip for inspection?
With pleasure. This is one of our pre-sales services. We make your accommodation arrangements. We pick you from the airport and also do hotel pick-ups for free. We accompany you during project visits.
- Which documents do I need to buy a property?
You don’t need so many papers and stuff. All you need is your valid passport, 6 passport size photos, tax number and bank account.
- Can I buy more than one property?
Yes, you can. There no limitations about the number of the purchases you can have.
- Can I rent the property I bought in Tenerife?
Yes, you can. We recommend you to let your real estate consultant offer this service to you.
- Can I use Mortgage loan to buy a property?
Not all but some of the Tenerife banks ensure loans. If you are interested, your property consultant can inform and guide you about this issue also.
- How much do I need to buy a house on Tenerife?
Prices are varied depending on the size and location of the project. Also property types are so assorted. Please contact your consultant to learn the prices of the options you pick.
- Do properties contain furniture on Tenerife?
In many projects, bathrooms and kitchens are fully fitted. Some are fully furnished. We recommend you to choose your furniture according to your delight.