Tenerife Property Taxes & Legal Fees

When purchasing a property in Tenerife there are additional buying costs to consider to register your Tenerife Property. All this could be handled by our highly experience in house team or by your own appointed solicitor here on the island:

Search Fees

It is always advisable to carry out a number of searches prior to purchasing a property in Tenerife to ascertain if there are any debts or charges outstanding on the Tenerife Property. These searches includes a land registry search, contact with the community, water, electrical companies to see if there is any amount of funds outstanding. Finally a search is also done with the town hall to check if the local property rates and refuse collection payments are all up to date.

Purchase Tax

On the Tenerife Property purchase of a second-hand property this tax amounts to 6.5% of the declared sales price and is payable within 15 days of the signature of the title deed. On the purchase of a new development Tenerife property this is 5% (IGIC) and is payable in stage payments as the property is being constructed.

Notary Fees

Payable to the Notary Public on signature of the title deed, the amount is based on the value of the property purchase.

Registry Fees

Payable to the local land registry office upon registration of the title deed.

Plus Valia Tax

Payable to the local Town Hall and is calculated by the authorities at the time of effecting payment.

As registered agents we can attend to all these and other matters associated with the purchase of a property in Tenerife, including:

If you are buying or selling in Tenerife and require any assistance or advice with any of the legal formalities, please contact us and we will be pleased to quote for our services.

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