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Buying a villa in Tenerife is not just about buying a home in a warm place. It is a direct opportunity to get a residence permit of the investor or to provide a rest and life in a decent status. Not everyone can afford to buy a house in Spain.

In addition to the price of housing, which starts from 200 thousand euros for modest options, there are many additional costs - from taxes to payment of maintenance and insurance

To save on taxes, it is profitable to buy a house in the Canary Islands - here the rate is lower than the mainland by 3%. Year-round pleasant climate without winter allows you to easily rent a house or live in person with maximum comfort.

Tenerife property is popular not only with foreigners, but also with Spaniards. Many people buy VIP-class accommodation on the island for the holiday season. This type of property, unlike apartments, allows you to have complete autonomy, do not depend on the relationship with neighbors, the quality of sound insulation and other household items that can poison life.

Buy a house in the Canary Islands: features of housing

The villa in the Canary Islands has several significant differences from a house or cottage, although all these objects are separate.
What is the difference:

  • A villa in Spain is a luxury villa. Every little thing for everyday life or rest here is aimed at maximum comfort. Such buildings are located on "specific" places - near the sea or mountains, in the midst of picturesque nature, it is your own plot of land, which no one should share with anyone. The standard equipment of villas includes a swimming pool, garden or greenhouse, garage for two or more cars, patio, terraces. Inside there are usually at least two bedrooms and an adequate number of bathrooms. There is no clear gradation in size, but you will rarely find a villa of less than 160 square meters. Engineering and technical equipment is also at the highest level - automatic ventilation, air conditioning, internet, fire and security alarm systems.
  • House - this concept includes a villa, and a cottage, and a chalet, and Finca. Any separate structure with a site, suitable for family living. The price level, location and equipment of most options can be much more modest than the villas. If we talk about finishing, the floor of the villas used natural granite, marble, parquet, and in other types of houses are often presented only ceramic tiles. Sometimes a piece of land is enough only for a carport, and the garage is impossible to put because of the small area. Buildings may be located in remote rural areas or be very small in size. The maximum size of a plot of land is more common in the Finca, a farmhouse on agricultural land.

Most types of houses require permanent and substantial financial investment. An individual building is more a way of life than a status. The alternative is to buy an apartment in Tenerife.

Legal peculiarities of buying a house in the Canary Islands

To buy a house in the Canary Islands, you will need to have a number of documents in hand. All of them must be translated into Spanish or originally written in Spanish:

  • NIE - number of the foreign citizen, allowing to pay taxes in Spain.
  • Preliminary contract with the conditions of purchase, certified by a notary public. Payment schedule, if a mortgage or installment is taken.
  • Making a deposit or the first installment for housing - usually from 10% of the cost.

Buying a villa on the island of Tenerife should not be planned on the last means, especially if it is a mortgage.

Despite the low interest rates, there are also nuances - in case of impossibility of further payment, the borrower is withdrawn from the property, but this does not exempt him and his heirs from paying the debt to the bank.
In order to obtain a gold investor visa, the value of the villa must be at least half a million euros. The legislation in this matter sometimes changes. Until recently, it was acceptable to purchase housing in the mortgage, and now it is required that the morgage was repaid.

Our company will help to choose and formalize the ownership of the house in Tenerife, which will fully meet the expectations of the client within the planned budget.