Guide to buying in south Tenerife
A practical summary of the buying process. Figures are confirmed by our agency; where it says “pending”, please ask us.
The process
Once you choose a home, a reservation contract is usually signed, followed by a deposit contract (arras). The sale is completed before a notary and the deed is registered at the Land Registry. We accompany you at every step.
The NIE
To buy a home in Spain you need a Foreigner Identity Number (NIE). It can be requested in Spain or at the Spanish consulate in your country.
Buying costs
On top of the price, a purchase involves taxes, notary, registry and, where applicable, a gestoría. These are the figures our agency confirms:
- Property transfer tax (ITP)
- Pending confirmation by the agency
- Notary (approx.)
- Pending confirmation by the agency
- Land Registry (approx.)
- Pending confirmation by the agency
- Gestoría (approx.)
- Pending confirmation by the agency
- Agency fees
- Pending confirmation by the agency
- Usual time to obtain the NIE
- Pending confirmation by the agency
- Usual financing for non-residents
- Pending confirmation by the agency
- Indicative IBI
- Pending confirmation by the agency
Taxes
Resale homes pay Property Transfer Tax (ITP); new builds in the Canary Islands pay IGIC plus Stamp Duty (AJD). Afterwards the owner pays the annual property tax (IBI).
Areas
South Tenerife has very different areas. On our website you can filter by area and see the available properties in each; we are happy to guide you.
Indicative information, not tax or legal advice. Always confirm your case with a professional.