Everything you have to know before buy an property in Tenerife
You can buy property in Tenerife for different purposes - as a European investment, for renting out, for year-round or temporary residence.
The choice of location and type of object depends on the goal. Accommodation in Tenerife is regarded as a bargain for the following reasons:
- High tourist popularity of the Canary Islands allows you to have rental income all year round.
- Distinct European laws provide low transaction risk.
- The loyalty of banks to non-residents provides an opportunity to take a mortgage on favorable terms.
The main reason for acquiring a villa or an apartment is the potential possibility of obtaining a residence permit.
The cost of buying a home in Spanish Tenerife
The cost of buying a home in Spanish Tenerife.Real estate in Spain in Tenerife is distinguished by a great variety and price range.
Small apartments in apartment hotels or studios will cost an average of 1,800 euros per square meter. To buy property in the south of Tenerife will be more expensive than in the north, because the main tourist routes are concentrated in the southern part of the island.
If we are talking about buying a townhouse in the center of the tourist zone, you should focus on the price tag of 150 thousand euros, and the cost of full-fledged villas starts from 300 thousand euros.
Ways of purchase:
- Mortgage. To obtain a mortgage, you will need to confirm the legality of your income, all documents must be translated into Spanish.
- Bank auction. There are two types of banking real estate - secondary housing, withdrawn from the owners for non-payment, and new buildings, the investor of which was the bank. These options are sold at 30-35% below the market.
- Cash. As in the case of a mortgage, you have to confirm the legal origin of the money.
Property prices in Tenerife also depend on the infrastructure, well-being of the area and distance from major cities.
Proposals for the sale of real estate on the island of Tenerife from Paradise-property.es
Paradise-property.es offers its customers real estate for every taste, lifestyle and budget.
Buying a home in Tenerife with a bona fide company will save the buyer from potential problems.
Choose with us the best option with transparent transaction support.