Property for Sale in Tenerife, Spain: A Complete Guide for Foreigners
Buying a property in Tenerife is a great investment and will grant you access to
Tenerife is a highly demanded location among foreign buyers, whether you’re looking for:
- A Permanent Residence
- A Holiday Home
- A Lucrative Rental Property Investment
Owning property in Tenerife will grant residency via the well-renowned Spanish Golden Visa. The following guide takes you through how to explore the property market in Tenerife, local property taxes, and go further with a smart investment.
Why Buy Property in Tenerife?
Several factors make the real estate market in Tenerife so attractive for foreigners buying homes abroad.
Can Foreigners Buy Real Estate in Tenerife?
Yes! The Spanish government welcomes foreign investment, especially in Tenerife, which is highly dependent on tourism. It is perfectly legal for British citizens, along with other countries, to buy property. The property market is very straightforward in Tenerife; there are no complex barriers to entry. It is relatively quite easy, especially with local help.
Foreigners can freely purchase or rent property in Tenerife. It requires a bit more effort and complexity to get a mortgage for non-residents; large deposits are also required, plus a Spanish bank account. For a Golden Visa, make sure your property is at least €500,000.
Tenerife offers Brits a tranquil way of life, plenty of culture, and wonderful food. Buyers have many choices, from modern apartments that have stunning views over the Atlantic Ocean to really pretty houses in traditional Canarian villages.
Looking for a House in Tenerife
Tenerife has a busy property market, represented by local and international real estate agents with a very wide range of properties. When seeking property, try to find reputable agencies to ensure your investment is secure.
Tenerife’s Best Estate Agents
Visiting in person is highly recommended when considering properties. Because of Tenerife’s unique microclimates, properties in the north can offer lush and green environments, while southern areas will have sun-drenched beaches.
Keep in mind that certain obligations can arise regarding property taxes, maintenance costs, or other regulations concerning the type of property concerned. Always consult with an attorney or local professional before closing the sale.
