Abama Resort, Tenerife, Spain
2 Bed | 2 Bath
EUR 940,000
Key Details
Abama Resort, 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.
The quieter north of the island has plenty of palm trees and banana groves and in recent years the island has worked hard to carefully landscape the main tourist centres. Kite surfers fill the skies at El Médano but away from the dark, rocky beaches it is increasingly golf that is the major draw with nine courses on the island.
Abama Golf & Spa Resort, one of the finest on the island and part of the five-star Ritz Carlton Hotel, is a hilltop course overlooking the sea thirty minutes from the international airport where past players include Bill Clinton.
The resort's Ritz-Carlton includes 13 restaurants including two with Michelin stars, an opulent spa, created by the design team behind Sanctuary Spa in London and Chiva Son in Thailand, and a fully-equipped gym with state-of-the-art equipment, personal trainers and a relaxing private spa-garden and café.
Other resort amenities include the tennis complex, golf course, beach access and dining facilities. Abama Resort is a 160 hectare estate designed by Chilean/Bolivian architect Melvin Vallaroel. Â
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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