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Canaries House Prices Hold Up Against Mainland Spain

Tenerife Property prices in the Canaries fell by 5.4 per cent in October, compared to the same
month last year, less than the national average of 6.5 per cent, according to the
Index of Real Estate Markets and Property
According to the report, October saw the biggest fall in house prices since prices
began to drop eight months ago.
The fall means that house prices are now back to levels last seen in 2006, making this an excellent time to purchase Tenerife property.
The biggest October falls were felt along the Mediterranean coast, where house prices dipped by almost 9
per cent, while in the major cities, prices fell by an average of 6.7 per cent.

We now have a fantastic selection of property for sale in Tenerife, with some once in a liftime deals available in Los Cristianos. For further details about any Tenerife property for sale, contact the team today.

Siam Park Opening a Huge Boost to Tenerife Tourism and The Tenerife Property Market

The opening of the Siam Park in Tenerife South will bring a huge boost to Tenerife Tourism
and subsequent spin offs to the Tenerife Property market.
Siam Park in now officialy open for business and already boosting the tourist trade to the island

Siam Park is a Loro Parque-owned water park constructed in Tenerife. It is located on the TF1
Highway in Costa Adeje. It will be Europe's largest water park at 18.5 hectares.
Siam Park features Siamese theming and most of the ProSlide water rides.
Siam Park has cost 52M Euros and the fact that it will be Europe’s biggest Water Park coupled with
Tenerife’s superb sub-tropical climate can only boost the already large number of visitors to the Island.
What the spinoffs for the property in Tenerife will be has yet to be seen but already Tate Properties Tenerife
are seeing the best property price in Tenerife for sometime and like the rest of Spain it is a great time to buy
and a very bad time to sell. The increase in visitors to the island most certainly wont do the Tenerife
property market any harm.

Eurozone rates lowered to 3.25%

The European Central Bank has lowered its eurozone interest rates to 3.25% in an attempt to prevent a recession. The bank reduced rates by half a percentage point amid increasing signs of slowing growth. The Swiss and Danish central banks did the same. ECB president Jean-Claude Trichet said further cuts could not be ruled out. Separately, the International Monetary Fund has forecast that the eurozone economy would shrink by 0.5% in 2009, more than previously estimated. More cuts? Speaking after the ECB rate cut, Mr Trichet said that the level of uncertainty stemming from the turmoil on the financial markets remained "extraordinarily high and exceptional challenges lie ahead". He also said that inflation rates were set to continue falling, and added that the ECB had discussed the possibility of a bigger rate cut on Thursday The comments leave the ECB room for more rate reductions, especially after the Bank of England slashed UK rates from 4.5% to 3%. The last time ECB rates stood at 3.25% was in October 2006. Swiss rate cut Also on Thursday, Switzerland cut its interest rates by a half percentage point, the second cut in a month. Denmark's central bank did the same, cutting its key rate by half a percentage point to 5%. The Swiss National Bank said it was cutting its the target range to 1.5-2.5%, and intended to hold the rate in the middle of this range. Following the cut in Swiss rates, Henrik Gullberg, an analyst at Deutsche Bank, said: "I am surprised, but it is clear central banks generally are determined to cut rates sharply now when the inflation threat is receding". The ECB cut rates by half a percentage point in October, as central banks worldwide, including the US Federal Reserve and the Bank of England, did the same in light of the worsening financial crisis. Slowdown In July this year, the ECB had raised rates to try to put a lid on growing inflationary pressures, but since then these pressures have eased considerably largely thanks to a sharp fall in oil prices. While inflation - a main focus of the ECB - is at 3.2%, it is coming closer to the target of under 2% following the recent contraction. "Inflation may go down to below 2.5% by year end," Natixis economist Ceric Thillier forecast. A series of economic data released this week has shown how economies across the eurozone are slowing. On Wednesday, figures showed that retail spending across the eurozone dropped in September, as consumers tightened their belts. Retail sales dropped 0.2% from August, and by 1.6% compared with September 2007. On Thursday, the IMF predicted in its latest World Economic Outlook that the eurozone would shrink by 0.5% next year, against an earlier prediction of 0.2% growth.

Mortgage Options for your Tenerife Property

Many guides about buying property in Tenerife assume that potential buyers actually have the money available, but if you are considering buying a house in Tenerife because you live and work here, or because you simply want to invest in real estate in Tenerife, you may want to consider taking out a mortgage with a Spanish bank. Whether you want to buy a finca in the Canary’s, a holiday apartment on the Costa Blanca or a new home in Spain, taking out a Spanish mortgage may be the right solution for you.

 

Interest rates in Tenerife vary, but are generally much lower than in the UK, and competition between Spanish banks is fierce. If you are interested in a property still to be built, you may find that the constructers already have an agreement with a certain Spanish bank for all mortgages and you are left with little choice. If not, you would be wise to shop around for the best deal.

 

Don't accept the first offer. Ask for a copy of one bank's offer and then take it to a different bank to see if they can improve the offer - they often will. Then take the improved offer back to the original bank - you may get a pleasant surprise!!

 

You will be expected to prove ability to pay (i.e. wage slips from the last 3 months and bank statements of the last 6 months or, if you are self-employed, copies of your last 3 years accounts (with an auditor's stamp) and copies of you last 12 month's business bank statements and your last 6 months personal bank statements). Proof of payment based on your ability to pay with income received from renting the property will not be taken into account by Spanish banks.

 

If you are not a legal resident in this country, then you may be asked to provide an aval. This will be somebody usually based in Spain who agrees to pay in the event of you being unable to. You will also be required to have a NIE (Numero de Identificación para Extranjeros) which is like an ID number everyone needs (residents and non-residents) in order to buy or sell property in Spain.

 

Most Spanish banks currently offer mortgages of 60-80% property price over 5, 10, 15 or 20 years depending on whether you are a resident here or not. Some banks offer 100%. The current variable rate is about 4.5% and there is usually an early write-off fee of around 1%.

 

Spanish banks may seem quite lenient where mortgages are concerned but bear in mind they are soon to snatch the property back loosing your home or investment if mortgage bills are not paid.

For some excellent deals on Property in Los Cristianos, why not contact the team on 922 787 717, we can finance your home today.

 

Credit Crunch Offers Fantastic Deals

Property in Los Crisitanos has always been highly sort after. The property gamblers of Europe have all over invested here, with the hope of high returns. But not seeing the financial crisis on the horizon, the over investments have now become a hazardous addition to the Tycoons portfolio. Many of them have begun off loading property at ridiculous prices in order to save their deposits. This allows the novice investor to gain a step on the overseas property market, with opportunities you will never see again.

 Los Cristianos is a beautiful place in the heart of the south of Tenerife. Once a small fishing village, it has now grown into the second city of the island, but has not lost its charisma or charm. Property in Los Cristianos has always been a sound investment, as long as you’re not greedy like many Tycoons have now found out. This has mirrored all over the world with many over indulging gamblers failing foul to the world’s financial crisis.

Investing your cash into property in los Cristianos is now a safer pension plan than any bank can offer you. Will the bank still be here to return your deposit? Never mind your interest. Even with the bailout budgets the world are now negotiating, will it still restore enough confidence for the average saver to bank once more. Most people are still rapidly withdrawing and looking for safer options for their cash.

Property will always be bricks and mortar, and if the markets fall, they will always rise once more. Investing into property now, before consumer confidence begins to build, leaves the floor open to some fantastic deals.

Tate properties now have some amazing opportunities and can clench your investment if you act soon. But with the beginning of world talks, confidence could begin to rally the markets and investors will become stable once more.

Contact us today, and we could clench your financial future.

Tenerife Property for sale

 

If you have property for sale in Tenerife and need an agent to sell it for you, our experienced property sales team are waiting for your call. Tate Properties have sold so many properties in Tenerife from their current portfolio, they are now in need of more properties in Tenerife for sale. If you are the owner of a villa, town house, apartment or business local in the following areas then please contact our team.

Los Cristianos

Adeje

Del Douqe

Fanabe

Las Americas

San Miguel

Golf del Sur

We have clients waiting to purchase properties in Tenerife, and now have limited property for sale. We can offer you a full sales service, and will visit your property valuing it at the current market rate. We will then list this property on our portfolio, and begin matching it to potential purchaser requirements. We will also photograph your property and make a new page on our website, marketing your property in Tenerife to the World Wide Web. Tenerife property has now slowed down and many agents are finding it hard to sell property in Tenerife. Tate properties whoever have a huge database of people ready to buy, and can sell your home fast.

For further information on how we can help you sell your property in Tenerife, contact our Los Cristianos office on 922 787 717 or contact us by email here.

Tate properties are waiting to sell you Tenerife property!

 

 

 Tate Properties Open Youtube Channel

if you need some help navigating around the website, you may find the videos we have now placed on youtube extremely helpful.

We are working on a short series to increase our user’s experience. With so many websites available, and so many different ways to search them, finding property to suit your requirements can become confusing, and almost impossible. Tate Properties carry an extensive portfolio, and want to ensure you have the best tools available to help find the property in Tenerife you are searching for.

Watch video now!

This is just one of many videos availble helping you to find our website, and gain maximum benifit from all of its features.
For further information about Tate Properties, property in Tenerife, or relocation to the Canary islands, please contact us here.

Spanish Succession Tax

 In Tenerife the personal reductions are the same as the State except for relief on the main home which is 99%. There is an additional deduction of 72,000 euros for recipients with a disability of between 33% and 65%. For a recipient with a disability of 65% or more it is 225,000 euros. A 99% reduction is in place...

Spanish succession tax applies to inheritances and gifts reports Bill Blevins, Financial correspondent of Blevins Franks. It is payable if the recipient is a Spanish resident or the assets in question are located in Spain. The residency of the donor does not matter except to indicate whether it is State (national) or Regional rules that apply.

There is no blanket exemption for assets passing between spouses as there is in the UK. Only the Spanish assets of non-residents are liable for tax, but if the beneficiary is a Spanish resident, they will be liable for succession tax on any worldwide assets they inherit. Beneficiaries are graded into four groups and the more distant the relationship the higher the tax rate and the lower the tax free allowance:

Group I: natural and adopted children under 21 Group II: natural and adopted children aged 21 and over; grandchildren etc; parents; grandparents etc; spouses; unmarried partners registered as a pareja de hecho in Andalucía or Catalunya. Group III: in-laws and their ascendants or descendants; stepchildren; cousins; nieces and nephews; aunts and uncles; sisters and brothers. Group IV: All others including unmarried partners unless registered under pareja de hecho.

The tax rates for 2007 range from 7.65% for assets of €7,993 or less, to 34% for assets over €797,555. Once you have worked out the tax due it has to be multiplied by factor of between 1 and 2.4 depending on the relationship and existing Spanish wealth of the beneficiary.

There is a reduction of 15,956 euros per beneficiary in Groups I and II. Any direct line descendant under the age of 21, including adopted children, has an additional allowance of 3,990 euros for every year they are under 21. The total deduction is limited to 47,858.59 euros per child etc. Those who are not so closely related such as cousins, nephews, nieces and stepchildren have an exemption of 7,993 euros each.

Where the recipient is disabled, further reductions are available depending on the degree of registered disability. Between 33% and 65% disability it is 47,858 euros, and for over 65% disability it is 150,253 euros. There is no exemption for distant relatives and unrelated people. There are also no exempt limits for lifetime gifts.

Under the State rules, a 95% reduction is allowed against the value of the deceased’s main home provided that the beneficiaries are either the spouse, parents or children and the inheritors continue to own the property for ten years from the date of death. The property does not have to be the main home of the beneficiary. The maximum reduction is 122,606 euros for each inheritor. The 95% exemption can also apply where the beneficiary is a more distant relative over the age of 65, and they have lived with the deceased for at least two years before the death.

Spanish succession tax is ultimately governed by the various Autonomous Communities which are individually controlled politically. The Autonomous Communities have power to improve upon the State rules. There is a gathering trend towards relief or abolition of succession tax between spouses and the direct line in the Autonomous Communities.

In Tenerife the personal reductions are the same as the State except for relief on the main home which is 99%. There is an additional deduction of 72,000 euros for recipients with a disability of between 33% and 65%. For a recipient with a disability of 65% or more it is 225,000 euros. A 99% reduction is in place for life assurance policies provided that the recipient is a descendant under 21 years. An 85% deduction is allowed for cash gifts to descendants under 30 years old to buy their main home up to a maximum of 24,040 euros. For recipients with a disability of 33% there is a reduction of 90% up to 25,242 euros. If the disability is 65% the reduction is 95% up to 26,444 euros. The gift must be registered as such and the property must be bought within six months of the gift (or the first gift if a series of gifts is made). The property must be situated in the Canaries and the recipient must live in the property as his or her main home for at least five years.

Even though you are a resident of Spain you may still be UK domiciled and will be liable for UK inheritance tax (IHT) on your worldwide estate, which will include your Spanish assets, as well as being liable for Spanish succession tax. IHT is at the rate of 40% above the tax free band of £285,000 rising to £300,000 from April this year, although any tax paid in Spain can be deducted against the UK tax due.

There are structures available, such as offshore trusts, which can protect against the liability to Spanish succession tax, as well as wealth, income and capital gains taxes. Spanish succession laws cannot apply either to assets in an offshore trust. Once you have lived in Spain for at least three years and if you succeed in becoming a UK non-domicile you can set up a ‘Golden Trust’. This is an offshore discretionary trust with permanent exemption from UK IHT even if, unplanned, you eventually return to the UK to live.

 In Tenerife the personal reductions are the same as the State except for relief on the main home which is 99%. There is an additional deduction of 72,000 euros for recipients with a disability of between 33% and 65%. For a recipient with a disability of 65% or more it is 225,000 euros. A 99% reduction is in place...

Spanish succession tax applies to inheritances and gifts reports Bill Blevins, Financial correspondent of Blevins Franks. It is payable if the recipient is a Spanish resident or the assets in question are located in Spain. The residency of the donor does not matter except to indicate whether it is State (national) or Regional rules that apply.

There is no blanket exemption for assets passing between spouses as there is in the UK. Only the Spanish assets of non-residents are liable for tax, but if the beneficiary is a Spanish resident, they will be liable for succession tax on any worldwide assets they inherit. Beneficiaries are graded into four groups and the more distant the relationship the higher the tax rate and the lower the tax free allowance:

Group I: natural and adopted children under 21 Group II: natural and adopted children aged 21 and over; grandchildren etc; parents; grandparents etc; spouses; unmarried partners registered as a pareja de hecho in Andalucía or Catalunya. Group III: in-laws and their ascendants or descendants; stepchildren; cousins; nieces and nephews; aunts and uncles; sisters and brothers. Group IV: All others including unmarried partners unless registered under pareja de hecho.

The tax rates for 2007 range from 7.65% for assets of €7,993 or less, to 34% for assets over €797,555. Once you have worked out the tax due it has to be multiplied by factor of between 1 and 2.4 depending on the relationship and existing Spanish wealth of the beneficiary.

There is a reduction of 15,956 euros per beneficiary in Groups I and II. Any direct line descendant under the age of 21, including adopted children, has an additional allowance of 3,990 euros for every year they are under 21. The total deduction is limited to 47,858.59 euros per child etc. Those who are not so closely related such as cousins, nephews, nieces and stepchildren have an exemption of 7,993 euros each.

Where the recipient is disabled, further reductions are available depending on the degree of registered disability. Between 33% and 65% disability it is 47,858 euros, and for over 65% disability it is 150,253 euros. There is no exemption for distant relatives and unrelated people. There are also no exempt limits for lifetime gifts.

Under the State rules, a 95% reduction is allowed against the value of the deceased’s main home provided that the beneficiaries are either the spouse, parents or children and the inheritors continue to own the property for ten years from the date of death. The property does not have to be the main home of the beneficiary. The maximum reduction is 122,606 euros for each inheritor. The 95% exemption can also apply where the beneficiary is a more distant relative over the age of 65, and they have lived with the deceased for at least two years before the death.

Spanish succession tax is ultimately governed by the various Autonomous Communities which are individually controlled politically. The Autonomous Communities have power to improve upon the State rules. There is a gathering trend towards relief or abolition of succession tax between spouses and the direct line in the Autonomous Communities.

In Tenerife the personal reductions are the same as the State except for relief on the main home which is 99%. There is an additional deduction of 72,000 euros for recipients with a disability of between 33% and 65%. For a recipient with a disability of 65% or more it is 225,000 euros. A 99% reduction is in place for life assurance policies provided that the recipient is a descendant under 21 years. An 85% deduction is allowed for cash gifts to descendants under 30 years old to buy their main home up to a maximum of 24,040 euros. For recipients with a disability of 33% there is a reduction of 90% up to 25,242 euros. If the disability is 65% the reduction is 95% up to 26,444 euros. The gift must be registered as such and the property must be bought within six months of the gift (or the first gift if a series of gifts is made). The property must be situated in the Canaries and the recipient must live in the property as his or her main home for at least five years.

Even though you are a resident of Spain you may still be UK domiciled and will be liable for UK inheritance tax (IHT) on your worldwide estate, which will include your Spanish assets, as well as being liable for Spanish succession tax. IHT is at the rate of 40% above the tax free band of £285,000 rising to £300,000 from April this year, although any tax paid in Spain can be deducted against the UK tax due.

There are structures available, such as offshore trusts, which can protect against the liability to Spanish succession tax, as well as wealth, income and capital gains taxes. Spanish succession laws cannot apply either to assets in an offshore trust. Once you have lived in Spain for at least three years and if you succeed in becoming a UK non-domicile you can set up a ‘Golden Trust’. This is an offshore discretionary trust with permanent exemption from UK IHT even if, unplanned, you eventually return to the UK to live.

Tate Properties can recommend some excellent overseas moving specialists, to help with your relocation. These companies will even pack and unpack every item you intend to bring. Whether it be a three seater settee or your cutlery set. We have used the companies time over with all of our previous clients being more than satisfied. We take the relocation process seriously, and so do the following companies.

Crownway International are based in Santa Cruz, with Depots in Manchester. They will move you door to door, taking care of all the legal paper work on the way. All you need to do is meet them at your new home, leaving the relocation process upto them.

 

Purple Star, another first class company that will move you door to door. What ever you want to bring with you, they will collect it ship it and deliver it. They too will take care of all your documentation, leaving you to relax and enjoy the trip.

 

Finding a home in Tenerife is Tate Properties specialist area. We have properties to suit everyone's criteria, or holiday homes if you just require a base for when your not at work.

The first thing we would like to do is consult with you, finding exactly what you need from your new home in Tenerife. Your essential needs will always come first with Tate Properties, and we will tick as many of your criteria boxes as possible.

We would like to arrange a consultation with you and discuss your property needs further, click on the link below and send us your details. One of our dedicated sales team will contact you and discuss your search for a new home.

More Information

Bulgaria has been experiencing a large uplift in tourist numbers in recent years and the World Trade Organisation forecasts that by 2010 the number of annual visitors to the country will exceed 20 million. Ski resorts in Bulgaria, such as Bansko, Borovets and Pamporovo, have become some of Europe’s fastest growing resorts for winter holiday sports. Bansko, for instance, has seen the creation of a new motorway linking it to the airport, a golf course built alongside the town and a new ski lift system within the resort. All this regeneration has been attracting more and more tourists and to cater to this demand there has been an explosion of new properties in and around the resort. Existing properties in such areas have seen significant price increases.

Tourists visit Bansko because of the 65km of skiing on offer, as well as its picturesque setting and medieval village. Attractions such as these have ensured its popularity among tourists over the past couple of years in particular. The resulting growth in the buy-to-let sector has been boosting the property market of ski resorts like Bankso and encouraging more newly built properties in such areas. Investors have been quick to notice this trend and are looking to purchase while there are still bargains to be had.

A real investment hotspot presently is the new golf resort of Pirin Golf and Country club. Properties are now available is prime locations surrounding the pro 18 hole golf course. Blessed with views of the snow caped mountains and next to some of the countries top resorts, Pirin Golf and Country club is set to be an excellent investment.

Tate Properties are pleased to announce their partnership with the promoters and constructors of this resort. Offer some of the prime locations at extremley handsome prices.

For further information on Bulgaria click here

 

Tenerife Property Sales - Why not buy to rent?

Many of us visit the largest Canarian Island on holiday and peruse the Estate Agent’s windows, looking at Tenerife property sales advertised, whilst strolling through the beautiful resorts that we dream one day of living in ourselves. At Tate we can help you find the perfect mortgage if you need financial assistance, so that your dream could quickly become a reality.

Tate is one of the only real estate agents to provide an online mortgage calculator. Simply look online www.tate-properties.com/mortgage-calculator.php at the Tenerife property sales advertised, choose the one that meets your requirements, whether it be a new off plan development or a buy to rent property and tap in the details.

• Property price
• The deposit you have
• The number of years you would like the mortgage
• And the interest rate

Immediately it produces a monthly repayment so that you can see the level of investment needed each month.

Buy to Rent

In the UK a buy to rent mortgage is commonplace, as established estate agents in Tenerife property sales we are seeing an increasing growth in the buy to rent sector here. The beauty of buying a property on a buy to rent basis is that you will see a growth on the return of your investment.

For example, if you look at Tenerife property sales that are new off plan developments, you will make staged payments until completion. Once finished you can then rent the property and receive a regular income. You may at a later date choose to either live in the property yourself, or sell it by which time you will have most probably experienced a growth on your original investment, a definite win - win investment.

In Tenerife, property sales for a buy to rent purpose are still proving to be a great investment due to the level of rental income that is achievable. Recent research carried out by London based http://www.holiday-Rentals.co.uk rates Tenerife as number 3 in the top rental performers for 2006.

Continually a favourite destination of British tourists the data highlighted a 20% rise in the average number of enquiries per Tenerife property per month compared to 2005. In addition the data illustrated that there has been 66% growth in the number of properties available to rent as more and more potential home buyers are deciding to purchase off plan a buy to rent property, making Tenerife property sales a sound investment.

Don´t miss out on this perfect opportunity – contact us today.

 

Tenerife Property Finder

At Tate properties we are now able to offer a new outstanding service to our clients called Tenerife property finder. We are an established estate agents based in Los Cristianos, Tenerife, the south of the island and one of our specialties is as a Tenerife property finder.

The expert team at Tate properties is extremely knowledgeable in relation to the Canaries property market,and we able to help you through your whole property purchase. By using our Tenerife property finder service we will be able to provide you with a select portfolio of Tenerife properties that meet your criteria.

If you are considering purchasing a property in the Canaries then visit our office in Los Cristianos and we can act as your Tenerife property finder. The Tenerife property finder service enables us to help you search for your ideal property on the "Eternal Island".

We have an exclusive selection of properties available, including both resale and many luxury new developments, which you are able to purchase "off-plan" you just need to inform Tate Properties as your Tenerife property finder of your requirements.

With our valuable experience gained over many years Tate Properties knows the property market very well and has assisted many prospective buyers in finding their dream property and as a Tenerife property finder, our success rate is high. No mater what type of property you are looking for, we are in no doubt that at Tate Properties our Tenerife property finder will have a property to suit your needs.

When you decide to use our Tenerife property finder the biggest question you will have to resolve is what you intend to use your property for, is it to be for an investment from which you will receive a guaranteed rental income or alternatively, is it to be used as a second holiday home, your decision will impact your choice of location in Tenerife.

Tate Properties Tenerife property finder has already helped many people just like you to find their own “place in the sun”. The property market in Tenerife is currently very strong and there is always a demand for high quality property, so whether it’s a rural Finca with olive groves and lemon trees or a seafront property with views across the Atlantic Ocean to La Gomera, Tate Properties - Tenerife property finder can help you.

 

Selling Your Property in Tenerife

Are You Thinking of Selling Your Property in Tenerife?

If so, then it is just as important to find a good estate agent to sell your Tenerife property as it is when you want to buy a Tenerife property. When selling your property in Tenerife be aware that the Tenerife property prices are currently very competitive and, while there is still the odd bargain to be made for buyers, you should quite easily make a profit on your property. Tate Properties have a wealth of experience in buying, renting and selling Tenerife properties, so if you are thinking of selling your property in Tenerife contact us today for a no obligation discussion with one of our friendly staff or complete our online enquiry form.

At Tate Properties we believe in matching the right property with the right property buyer from the beginning. This means that we go to great lengths to ensure that before we present the property you want to sell to a prospective client, we will have already spoken with them and are sure that it meets all of their needs which saves everyone involved a lot of time and trouble.

Since the advent of the Internet, selling a property has never been easier. The internet offers an enormous amount of possibilities and new routes to match all prospective homebuyers with your home. All good estate agents offer a website service that allows people to browse through their property database online. At Tate Properties we offer a wide range of properties for sale and rent throughout Tenerife that you can browse through them in your own time.

There are two things that you need to bear in mind when selling your property in Tenerife:

• The Seller's tax liability
• The tax deposit on non-resident property sale

The seller's tax liability

As the seller you are responsible for the capital gains tax payment, though normally the buyer will agree to pay it. This payment is the Spanish municipal tax on the increase in the value of the land, not in the property, since its last recorded transfer. This tax must be paid within 30 days from the signing of the sales deed.

Tax deposit on non-resident property sale

If you are a non-resident wanting to sell your property in Tenerife, you will have 5% of the sale price withheld by the buyer which will be deposited with the Spanish Tax Office for the capital gains tax.

Once your tax liability has been assessed, you will either have to pay more to the Spanish Tax Office or you will get a refund from the amount deposited, depending on your profit.

Find out more…

To find out more about selling your property in Tenerife contact Tate Properties today.

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Real Estate Tenerife

Tate Properties are an established estate agents specialising in real estate Tenerife. Located in the Los Cristianos area in the south of Tenerife, Tate Properties has grown to become not only the leading estate agents of property for sale in Los Cristianos, but through our dedication and commitment to our clients we have also earned a highly regarded reputation for being the best for real estate Tenerife wide. Real Estate Tenerife offers amazing value. Being one of the busiest tourist destinations within the Canary Islands, Tenerife gives the property investor an amazingly good letting potential and the easy lifestyle and constant good weather are just some of the great incentives for those looking to relocate.

Many people head to Tenerife for the year round sunshine and warmth, but this island has a great deal more to offer the visitor and the expat alike. The centre of the island is dominated by the snow capped peak of Mount Teide, Spain’s highest point and this 3,700m high volcano has created an island of microclimates and amazing diversity, with lush tropical vegetation, hills of ancient laurel and pine forests, sweeping areas of volcanic rock and dry plains and beautiful beaches all within a few hours drive of each other. With flights to this island paradise only taking around 4 ½ hours from most UK airports it’s easy to understand why over 3 million Brits visit these shores every year.

The main tourist resorts of Las Americas and Los Cristianos are ideal for those looking for an investment property, with all year occupancy almost guaranteed.. The lesser known tourist areas of El Medano, Costa Del Silencio and Los Gigantes and the new up and coming areas like Callao Salvaje, Bahia del Duque and Costa Caleta are best for first time property investors as they offer many of the benefits of the main tourist area without the high costs.

The real property bargains remain in the areas that have not being touched too heavily by tourism such as Adeje, Aldea Blanca, San Miguel and San Isidro and these areas are ideal if you are planning to move to Tenerife permanently as your money will go a lot further. These areas however are predominantly Spanish and although the locals are more than welcoming a good phrase book or a command of Spanish is recommended.

The value of property on Tenerife continues to increase every year, making the purchase of property on the island a sound financial investment and Tate Properties can offer the potential buyer a service that is second to none. Our fully trained, qualified and friendly team are happy to help with any queries you have and we feel confident that we can help make your buying experience a stress and problem free one.

Property for sale in Tenerife

If you are thinking of buying a property for sale in Tenerife, then why not visit Tate Properties and let us help you search for your home in the sun. We have a wide selection of property for sale in Tenerife and we have many years of valuable experience in the Tenerife property market which has enabled us to assist many people find their dream property for sale in Tenerife. No matter what type of property for sale in Tenerife you are looking for, we at Tate Properties are confident that we have something to suit your needs. Our highly qualified and friendly staff are always on hand to help you every step of the property purchase procedure and we will happily help you draw up a short list of suitable property for sale in Tenerife give you the benefit of our experience in helping you choose your perfect property.

There are as many different reasons for purchasing a Tenerife property as there are types of Tenerife property to purchase, from investment purposes to a second or retirement home, from a holiday home to a complete relocation, Tate Properties have helped hundreds of people make their idea become a reality.

Why Tenerife?

Tenerife is the largest of the Canary Islands, situated in the Atlantic Ocean just off the North West coast of Senegal, Africa. It is an amazingly varied island with many different micro climates existing next to each other and some stunning natural vistas. Its geographical position has earned it the nickname the “island of eternal spring” as the weather in Tenerife is dry and warm almost all the year round. Rich in vegetation, palm trees and cacti it is very much like a tropical island and with flight times being less than 5 hours from most UK airports which means no jet lag it is easy to see why over 3 million people choose to visit these shores every year.

To live here is to live in a community where everything goes just that little bit slower. Of course, you will need to adapt to the Spanish “mañana” and learn to take life easy. The price of living is relatively cheap, the way of life is relaxed, the sun is almost always shining and the people are friendly. What better reasons could you have to start looking for your place in the sun?

To buy a property in Tenerife for financial gain makes good sense too. The property market has always been very strong here and the demand for good quality apartments, not only from the tourists but from the people who move to the island to cater to the tourism industry is always huge. Many people have discovered the profits to be made from either renting out a property or purchasing a property off plan and reselling it as the property prices are always steadily rising.

Contact Tate Properties today and let our friendly staff help and advise you on all aspects of your property purchase as well as answering any questions you may have.

Home Registration & Cashback

Tate properties now introduce HOME REGISTRATION. A quick and easy way to advertise your property from the comfort of your own home. No sales people will call until necessary when we have a prospective buyer for your property. We will give you an easy procedure to follow but remember to give a clear and detailed description of your property.

So why not add your property to our ever growing portfolio today and unlock it's sales potential!

If you allow us to put our For Sale sign on your property we will give you * up to €2000 cash back if we sell your property. Please request a For Sale sign at the bottom of your description and we will arrange for one to be delivered.

*Cashback is judged on property value.

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Use the form below to advertise your property.

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Apartment for sale in Los Cristianos

If you have an apartment for sale in Los Cristianos or you are looking for an apartment for sale in Los Cristianos than you have come to the right place. We have an enviable range of top class Los Cristianos apartments for sale in our portfolio and we pride ourselves on our unique service that is second to none in the Los Cristianos area, helping our clients buy or sell their properties with minimum hassle.

Los Cristianos

Once little more than a small residential fishing village the resort of Los Cristianos in the municipal district of Arona on the south west coast of Tenerife has spent the last 40 years growing into one of the largest tourist developments on the island. Unlike the nearby Playa de Las Americas and despite its rapid growth, Los Cristianos has managed to retain a strong sense of its Canarian heritage, with many locals still choosing to live there.

Overlooked by the majestic slopes of a now long extinct volcano and sheltered by a sweeping bay in the south-west corner of the island of Tenerife the focal point of Los Cristianos is without a doubt the pedestrianised area around the town’s picturesque harbour. This pedestrianised area boasts just about every type of shop and eatery available and is a well kept labyrinth of alleyways and avenues that all lead down to the harbour area. Fronted by a square surrounded with restaurants and encircled by sandy beaches this harbour is a crescent-shaped bay backed by a long, wide promenade. It is from this harbour that the traditional Canarian fishing boats still leave to fish the local waters, weaving their way in and out of the way of the large ferries and jet foils that are making their regular trips over to the nearby island of La Gomera.

The wide traffic free promenade that runs along the full length of the resort, several miles right into the heart of Playa de las Americas, through the Costa Adeje, district, and ultimately on to the resort of La Caleta in the west, starts here at the eastern end of the harbour bay adjacent to the hotel Arona Gran.

There are two main beaches in Los Cristianos, the best undoublty being that of Playa de las Vistas. This is a man made beach covered in sand imported from the Sahara so it is white sand and not the usual dark volcanic sand that is seen on other beaches in the Canary Islands.

For more information about property for sale in this beautiful and very sought after area browse through our online portfolio or contact us today.

Apartments for sale in Tenerife

Make sure that Tate Properties is your only choice of estate agents when looking for apartments for sale in Tenerife.

We at Tate Properties are at the forefront of the overseas property investment market and here in Tenerife and we have lots of exciting pre-construction new developments and re-sale apartments for sale in Tenerife.

Tenerife is the largest of the seven Spanish Canary Islands, which lie in the Atlantic Ocean off the coast of North West Africa.

Due to the location of the Canary Islands, Tenerife enjoys a fabulous year round climate, with over three hundred days of sunshine annually and very little rainfall.

As a result of this fantastic year round spring like climate, Tenerife has been very popular with overseas property investors for many years and with our vast gallery of both new development and re-sale apartments for sale in Tenerife, you too can enjoy this highly sought after island paradise with the purchase of one of our amazing apartments for sale in Tenerife.

We have an extensive gallery of apartments for sale in Tenerife and we make the whole procedure of buying one of our apartments for sale in Tenerife a simple and care free experience.

We have a competent, experienced and highly motivated staff, all of whom are available to you at every stage of the buying process of our fabulous apartments for sale in Tenerife.

From the initial stages of deciding which resort to invest in and on which size and style of apartment will fit your needs perfectly, up to and including the final completion of the purchase of your apartment in Tenerife, we will be readily available to answer any of your questions.

Our website allows you to easily search through our huge range of apartments for sale in Tenerife, but has so much more to offer you. In addition to our gallery of apartments for sale in Tenerife, our website also has a Buying Guide which allows you, as our client, access to important information concerning required legal documentation, taxes and legal fees, property registration fees and tax retention.

We also offer our clients who are buying one of our apartments for sale in Tenerife, many other valuable services. We make viewing one of our apartments for sale in Tenerife completely hassle free with our pick up and drop off service. We can also arrange a day in which one of our staff will take you on a tour around the new up and coming resorts that Tenerife has to offer.

For a safe and secure investment in Tenerife make sure that we are your only choice of estate agent.