P-31542
P-31542
Baobab Suites, Tenerife, Spain
3 Bed | 3 Bath
EUR 1,295,000
Key Details
Baobab Suites, Tenerife, Spain
Tenerife
Tenerife, the largest of the Spanish Canary Islands, is a four and a half hour flight from London on both scheduled and low-cost flights. Tenerife remains one of Northern Europe’s favourite winter escapes. It has Spain’s highest volcano, snow-capped Mount Teide, traditional Spanish towns in the north and theme parks and beaches in the south along with the ideal weather to enjoy them all. Year-round temperatures hover alluringly between 20 and 30°C.
Costa Adeje is the ultimate destination in southern Tenerife, offering a luxurious lifestyle surrounded by golden beaches, including the renowned Playa del Duque. This prestigious area boasts Tenerife's most exclusive shopping mall, Plaza del Duque, alongside a variety of elegant boutiques, 5-star hotels, fine dining restaurants, and chic bars. Perfectly connected, it’s near the TF1 motorway and just a 20-minute drive from Tenerife South Airport. The vibrant resorts of Playa de las Américas and Los Cristianos are nearby. With world-class golf courses and a wealth of water sports and outdoor activities, Costa Adeje is the epitome of refined living and leisure.
The Cost of Buying a Property in Tenerife
Before you purchase a property in Tenerife, it is important to know the costs involved with the purchase in addition to the price of the property.
Property Taxes and Fees in Tenerife:
On top of the asking price of the property in Tenerife, you will be required to pay taxes and legal fees for the purchase.
The general rule of thumb is that for property purchases in Tenerife you should allow an additional 10% of the property purchase price to cover the legal fees and purchase taxes etc. (this may be slightly more for lower value properties).
These will include:
Lawyers fees: For the conveyance, typically these are charged at 1% of purchase price + IGIC (VAT) at 6.5%. Usually lawyers will have a minimum fee however which is usually around €1,000-1,500 euros + IGIC.
The lawyer can also prepare a Power of Attorney for you (if required), the costs of this is typically between €150-€200 + IGIC at 6.5%.
Some lawyers may also offer a service to assist with the transfer of water, electricity & IBI (council tax) into the purchaser’s name. The costs for this varies but is usually around €250-€300 euros plus IGIC at 6.5%.
Land Registry search fees: These are usually approximately €30.00
Registration Fees:  Registration of property typically costs between €300-€900.
Spanish Notary Fees: Usually in the region of €700-€1,000.
Spanish Property Purchase Taxes: Transfer tax of 6.5% of the declared property value (or if the property is a new build, IGIC (VAT) is payable instead at 7% plus 1% stamp duty).
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