Javier Martí. Tenerife´s first INDEPENDENT Property Consultant -tel (+34) 637 112 124

Your property in Tenerife: buying costs estimate

General expenses when buying a property in Tenerife will vary.
As a general rule, you should allow between 8% and 10% of the price of the property for transfer expenses and taxes, depending whether you are buying a resale or new construction property.

Should you need a mortgage but are not a resident in Tenerife, we can arrange that between 60% to 70% here through a Spanish bank. However, it is a good idea to have mortgage information from your own country before doing your buying trip to Tenerife.

Please note: buying a property in a foreign country may seem complicated. It actually is if you don´t have the knowledge, contacts and experience. However, it is my job to make it all as simple as possible for you

In order to take advantage of the best opportunities and put an offer on, I suggest you having available around 5% of the price of a property in your price range ready to be used at 24h notice. This can be done either in cash or through your bank.
As a general rule, the expenses involved to buy a property in Tenerife are not higher than in any other European country

- A fee is paid to the Notary for the preparation of the Escritura (title deeds)- approx. 500 Euro
- Land Registry TAX.This depends of the value of the property - approx. 400 Euro
- Plus Valía TAX. (paid to government)- A sort of municipal capital gains tax which also depends of the value of the property - widely variable
- Transfer TAX (VAT and Stamp Duty. Paid to government). approx. 6% to 7% of property value
- JM Professional fees, when applied. (market search, visits, documentation, bank arrangements, e-mail notifications/questions, representation of buyer, after sales service)
- Power of attorney (If you wish not to be here at the time of signing. paid to the Notary) - approx. 250 Euro
A power of attorney is a document designating a person to buy on your name a particular property at the time of signing the Escritura.

See also why buy in Tenerife?" / "Why moving to Tenerife" / "Tenerife pictures & map"

If you are seriously considering buying a property in Tenerife,
all you have to do is phone me. I´shall be pleased to talk to you and answer all your questions. (+34) 637 112 124

You may also e-mail me, but as I spend time away from my office helping clients, please allow 24h hours for me to reply to you. 		Javier Martí
Daytime hours. Just ring Javier (+34) 637 112 124 - we´shall achieve much more in 5 minutes talk than in 5 emails...