01.02.08
Posted in Articles, Canary Islands, New Development, Real Estate Agents, Spain, Tenerife at 4:19 am by admin
Spain’s two vastly different island groups attract thousands of holidaymakers, homebuyers and investors every year.
The Balearic Islands located in the Mediterranean Sea are known for their legendary club scenes, pristine beaches, affluent lifestyles, fancy cars and big yachts.
The Canaries, on the other hand, are a nature lover’s paradise, with an amazingly diverse landscape made up of volcanoes, deserts, lush green forests, epic mountains and gigantic cliffs.
Along with the price of property, one of the biggest differences between the two is the climate. The Canaries, known the “Islands of Eternal Springtime” have what’s described by many as the best climate in the world. It’s warm and sunny all year long, even in the depths of winter. The Balearic have a similar climate to mainland Spain.
The Balearic Islands
The Balearic Islands comprising Mallorca, Ibiza, Menorca and Formentera are located in the Mediterranean Sea off the coast of Valencia, Eastern Spain.
Mallorca, a very popular holiday destination – particularly with British and German visitors – has a thriving nightlife and large expat community.
Its beaches range from quaint isolated coves to huge stretches of sand that get packed with holiday makers from all over the globe. The north is arguably the most beautiful part of the island, with its unmatched rugged charm.
Palma de Mallorca, the capital of the Balearic Islands was recently voted the “best place in Spain to live”.
Ibiza shot to fame during the late nineties when dance music and ecstasy were all the rage. It became the “club capital of Europe” with some of the world’s top DJ’s playing in the island’s mega clubs. Places like Manumission, Café del Mar, Pacha, Es Paradis and Space became household names even outside of the dance community.
Nowadays, Ibiza is a popular festival location with a thriving gay community. During the quieter winter months it can be a deserted paradise – the perfect getaway.
Menorca is a much more relaxed and conservative island – perfect for families with kids. It’s famous for Mayonnaise!, of all things. The island’s capital “Maó” is where it comes from. If you go there, try the gin, bitter lemon. A traditional local drink, it packs quite a punch.
Formentera is where you’ll find the best beaches in the Balearics and some of the finest in Spain. Its pristine white sands and crystal clear waters have been the setting for many advertising commercials. Most of the beaches are nudist and it’s a popular hippy hangout.
The Canary Islands
The Canaries are the only genuine winter sun destination in Europe – a major selling point used by both tour operators and real estate agents.
Average air temperatures stay warm and consistent all year long at between 18ºC and 24º C. Whereas, the mainland and Balearics can get very chilly during the winter months.
They’re a Mecca for watersports fans, windsurfing in particular, with average ocean temperatures of 22ºC in summer and 19º C in winter. You never even have to wear a wetsuit! although if you’re scuba diving, it’s probably a good idea.
The Canary Islands are renowned for their wonderfully diverse landscapes and beautiful natural scenery. Throughout the archipelago, you’ll find massive cliffs, imposing mountain peaks, lush green forests, volcanic craters, volcanoes, deserts and sand dunes. Tenerife is home to Mount Teide – Spain’s highest mountain peak.
Property Prices On The Islands
The two archipelagos are considerably different when it comes property, the Canaries being a lot cheaper.
If you’re looking for an apartment in Menorca, expect to pay at least €200,000 according to timesonline.co.uk (www.timesonline.co.uk). In Ibiza and Mallorca, minimum prices for apartments are around €300,000 and for a villa you’re talking at the very least €400,000.
The Canary Islands are a different story. For a basic apartment, average prices start at just €90,000 and you could get a small detached property for around €240,000.
Tenerife, one of the most popular islands for both investors and homebuyers, offers a great quality of life and some shrewd investment opportunities due to the affordable properties and guaranteed rental yields. Click here for the latest Tenerife New Developments.
Permalink
Posted in Articles, Canary Islands, Spain, Tenerife at 3:40 am by admin
Although intended to give you a well earned break from your busy working lives, holidays often end up being more stressful and exhausting than staying at home. Everyone knows the feeling of needing a holiday after THAT holiday.
Recent research from the NatWest Bank points out that, of the growing numbers of Brits investing overseas, a quarter of them are doing so in an attempt to escape the stress and strain of the “annual family holiday”.
“A third of current and potential overseas homeowners believe that owning a holiday home will make family breaks more affordable and a quarter feel it would reduce the sheer stress of arranging holidays” – homesworldwide.co.uk
Holiday Headaches
Mike Freer, Head of Business Development at NatWest, comments that holidays can be “hugely traumatic”. And rightly so, the hassle and expense of organising the whole thing along with the inevitable family squabbling can genuinely be more tiring than if you’d just stayed in the office.
There are a million different things to consider – from location and climate to accommodation, airfares, car rental, packing, taking the kids and (nowadays) airline luggage weight restrictions. If the accommodation is bad, the holiday can instantly be ruined.
Investing in a Holiday Home
Since most people go to the same holiday destination every year, it makes sense to invest there. As well as cutting out a lot of the stress, a holiday home, if researched properly, should literally pay for itself.
Although the upfront cost of buying a second home can be huge, the long-term benefits should make up for it. Firstly there’s the obvious savings in holiday accommodation. By renting the property to tourists while you’re not using it you can earn substantial rental yields. If it’s a good quality property in a popular location, it should accumulate good property appreciation.
So where to invest…
“Spain continues to top the tables as the most popular overseas hotspot”, according to Mike Freer.
Top European Destinations – Spain & The Canaries
Spain’s warm, sunny climate, excellent beaches, friendly locals and relaxed pace of life has attracted more immigrants than any other country in Europe. It has a huge expat community of British people who consider it a “home away from home”.
Every year more and more UK nationals are relocating to Spain. Most fall in love with the place, set up home and never look back.
According to homesworldwide.co.uk, “Foreign residents now comprise almost ten per cent of the total population, adding up to 4.48 million out of a total of 14.12 million people”. There are now more foreign residents living in Spain than Germany or Britain.
Why Spain?
Spain has everything – beaches, nightlife, mountains, snow, culture, art, music, good healthcare and education, cheap property (in some parts), a low cost of living and a high standard of life. The emergence of low-cost flights has made traveling to Spain easier and cheaper than ever before.
Spain has a consistently improving economy and the influx of newcomers has also contributed greatly to this. They now account for 4.5% of the country’s GDP.
Retirees contribute to the economy by employing local builders etc and younger expats often contribute by setting upon their own business, creating competition and employing local staff.
Investing in Spain & the Canaries
Despite the recent property slump, Spain still has excellent long term potential provided you choose the right location and property. While overbuilt areas like the Costa de Sol have been hit the worst, lesser-known coastlines like the Costa de la Luz still offer excellent opportunities.
The Canary Islands, with their year round sunshine and warmth can provide significant rental yields all year long. Tenerife is one of the most popular Canary Islands. Click here for more information on Tenerife Property.
Permalink
08.02.07
Posted in Buyer's guide, Real Estate Agents, Spain, Tenerife, Uncategorized at 9:11 am by admin
A recent article by Tony Riley, Managing Director of Tenerife Property Consultancy, points out some of the steps involved in buying your dream home in the sun.
Getting the right solicitor is vital. “The agency or lawyer has the responsibility to gather up-to-date receipts and to see that there are no pending debts on the property”. This will leave you free to concentrate on the many other aspects of the purchase.
At Tenerife property consultancy, they’ll also appoint an independent conveyancer. His role is to investigate the property, obtain all the correct paperwork and confirm that there are no outstanding debts or embargoes on the property.
Opening a Spanish bank account
“The cost of opening a bank account for ‘non-residents’ is around £10 for the administration fee.”
Opening a bank account in Tenerife is very straightforward. All you need is your N.I.E. (Numero de Identificacion de Extranjero) number, which can be got in less than a day. You’ll need this if you want to open a bank account or have any other fiscal representation in Spain.
Tenerife property Consultants work with all the major banks on the island. If your planning on only spending certain periods of the year on Tenerife, they can help you set up direct debits for all your household bills, so you won’t have to worry about bills not being paid while you’re not there.
Getting a Mortgage in Tenerife
“Mortgage rates in Tenerife tend to be amongst the lowest in Europe, and are currently around 3.75% of the bank valuation of the property”.
Obviously it makes more sense to get a Spanish mortgage but if your uncomfortable with it (for any reason) you can always get one from back in the UK. The banks in Tenerife require minimal financial information. They’ll give you a mortgage whether you’re employed or self-employed. Mortgages are available within as little as 15 working days.
The purchase
Actually buying a property in Tenerife (the whole process) is very simple, especially if you’ve chosen the right agent and lawyer, who’ll do most of the work anyway.
Firstly, once you’ve decided on your dream home you need to pay a deposit of 10% of the purchase price upon signing the title deeds (escritura) of the property. This has to be done in front of a “Notaria” or notary in English.
The Notary (Notaria)
A notary is a solicitor appointed by the Spanish government to witness the signing of all legal public documents.
The notary represents both the buyer and the seller of the property. The fees they charge are set by Spanish law on an increasing or decreasing scale based on the value of the property. The notary must be paid during the transfer of the title deeds.
The notary holds onto the original signed document. He/she then applies for a formal change in the land registry – he puts the property into your name.
You’ll get an initial (fully usable) copy of the signed title deed, which is your proof of purchase and ownership and MUST be kept in a very secure place. The official title deed can take a while to be processed.
Other fees
If you’ve bought a property in a complex shared by other people you’ll need to pay community fees. These are regular fees paid for the upkeep of all communal areas like swimming pool and gardens as well as security, lighting etc.
Normally the larger your property, the larger the percentage of the community you have to pay. Depending on the community rules, they can be paid monthly or quarterly etc.
Permalink
07.23.07
Posted in Fuerteventura, Gran Canaria, Lanzarote, Tenerife at 6:39 am by admin
You’ll find everything you need to know about buying or selling property in Lanzarote, Tenerife, Fuerteventura and Gran Canaria on the web.
One of the fastest and easiest ways to search for property for sale in the Canary Islands is to go online. There’s literally hundreds of real estate agent sites and independent portals that provide; property listings, local area information, and legal advice etc. Before you even contact the agent you can have done most of your research.
Freedom4sale is undoubtedly the number one website portal and free magazine when it comes to property investments in both Spain and the Canary Islands. They have over 10,000 estate agent properties
listed on their website and in the magazine from some of the best English-speaking estate agents on the mainland and throughout the archipelago.
The website is currently expanding and now includes new emerging markets beyond Spain and Europe.
Freedom4sale is a very user-friendly website that draws back visitors again and again. As well as property listings, the site also has popular features like the property forum (where you can discuss issues with other website members); a newsletter; local information; and property articles.
Local Area Information
Lanzarote
Located just 70 miles off the coast of Africa, Lanzarote is the most easterly of the Canary Islands. It’s the fourth largest Canary Island and has a perfect year round climate, a spectacular volcanic landscape and some amazing beaches. The average temperature is 24° in August and 17° in January.
Tenerife
Tenerife, known as the “Island of Eternal Springtime” has an incredibly diverse landscape. It’s home to Mount Teide – Spain’s highest mountain peak. Volcanic in origin, it’s a mixture of deserts, beaches, mountains, colourful flora, volcanoes, lush green forests and some spectacular rock formations.
Fuerteventura
Fuerteventura is the second largest of the Canary Islands and enjoys over three thousand hours of sunshine a year. It’s also home to some of the best beaches in Europe.
Gran Canaria
Gran Canaria is the largest of the Canary Islands and has comfortable year-round temperatures of between 18ºC in winter and 25ºC in the summer. This paradise island has some excellent beaches and some truly exquisite natural resources.
Article Extract – Emerging Markets
A recent article in the surinenglish newspaper (”A world of investment opportunity lies in Emerging Markets”) discusses how Emerging markets offer fantastic potential for long-term profits.
Bill Blevins, from Blevins Franks, points out that although once thought of as a risky investment option, emerging markets have become a viable investment provided you take the right approach.
Emerging Markets
These can be defined as low to middle nations, normally developing countries, who’s economies are growing rapidly, often faster that those of developed nations.
Today’s leading markets include; Brazil, Russia, India and China, known collectively in investment circles as “BRIC”. These markets are growing rapidly. According to a survey by The Economist, they now produce over 50% of the world’s GDP.
Investment Portfolios
In order to have a well-balanced profit portfolio, you should have “a mixture of equities, bonds, cash and property funds, spread over varying risk levels”.
Long Term Profit
Normally high returns come from high-risk investments. But if you allocate 5 – 10% of your portfolio to a thoroughly researched emerging market, in the long term (10-15 years) it can grow to “more than 50% of the value of your portfolio”. In some cases, it might even grow to 100% the value of your entire portfolio.
Freedom4sale Membership
Setting up a freedom4sale property account is one of the best ways to keep up to date with property movements in Tenerife, Fuerteventura, Lanzarote and Gran Canaria. It’s also useful for anyone looking for information on investment options and new emerging markets.
Once your account is set up, you can keep track of your favourite properties, stay updated with the latest properties coming on to the market, receive all the latest property news and much much more. With freedom4sale, finding a property in Canary Islands has never been easier.
Permalink
Posted in El Hierro, Fuerteventura, Gran Canaria, La Gomera, La Palma, Lanzarote, Tenerife at 6:00 am by admin
Buying a property abroad is a big step and a major financial investment. If you’re considering investing on any of the Canary Islands, then you then you need to have an informed choice.
Canaryproperty.com is the number one property portal for the Canary Islands.
Covering Tenerife, Lanzarote, La Gomera, Fuerteventura, El Hierro and La Palma, it’s one of the Canary Island’s most comprehensive and informative property websites.
The Canary Islands:
Tenerife
Tenerife, known as the “Island of Eternal Springtime”, has a warm and gentle climate all year round. It’s clearly divided into a very dry southern part and a very humid and green north. The island has an incredibly diverse landscape and it home to Spain’s highest mountain peak – Mount Teide.
Property for sale Tenerife
Torviscas Alto, Tenerife
Large studio apartment located in Torviscas Alto, very close to all local amenities. The apartment offers separate sleeping area, kitchen and lounge.
Sale Price€89.250
Agent: Tate Properties
Fuerteventura
Fuerteventura has the best beaches in the whole of the archipelago. It has 157 in total. The island has become a major water sports destination as it has excellent wind and wave conditions along with warm waters all year round.
It’s not just for sports fans though. It’s suitable for everyone – families, kids, couples etc. The island is slowly but surely building up a large expat community of Northern European residents.
Property for sale FuerteventuraCosta de Antigua, Fuerteventura
1 bed Houses Villas
1 bedroom, 1 bathroom town house for sale in Costa de Antigua, a small resort just a few minutes from Caleta de Fuste.
Sale Price€95.000
Agent: Horizon Property GroupGran Canaria
Gran Canaria is a paradise island blessed with a perfect climate, excellent beaches and some truly wonderful natural resources.It’s situated between Tenerife and Fuerteventura, around 130 miles of the Morrocan coast. Gran Canaria is the largest of the Canary Islands, with Las Palmas (the capital) located in the north east of the island.Property for sale in Gran Canaria
Playa del Ingles, Gran Canaria
A modern, tasteful, well equipped new renovated bar in Playa Del Ingles. It can easily be used as any type of bar including bar snacks.
Sale Price€43.000Playa de Arinaga
Horizon is pleased to offer the lease of this typical Canarian bar/restaurant for sale in the pretty town of Playa de Arinaga.
Sale Price€57.000Lanzarote
Lanzarote is the fourth largest of the Canary Islands and is situated just 70 miles off the coast of Morocco. It has a spectacular reddish Mars-like landscape, a warm climate all year round and some excellent fine sandy beaches. Lanzarote has grown into a very popular tourist island with many top class luxury hotels, apartments and villas.
Property for sale in Lanzarote
Costa Teguise, Lanzarote
An exciting opportunity to buy into an established clothing Franchise, situated in the busy tourist resort of Costa Teguise.
Sale Price€45.000
Playa Blanca Urban land
210.000m2 land available for sale in Playa Blanca. To be sold in 10.000m2 lots at a price of 6 euros/m2.
Sale Price€60.000
La Palma
La Palma is one of the smaller Canary Islands and has a population of about 90,000 inhabitants. It has the highest rainfall of all the Canary Islands and a very mountainous terrain – in fact, it’s one of the world’s most mountainous Islands. The highest peak on La Palma is Roque de los Muchachos, which reaches up to a staggering 2,426 metres.
La Gomera
La Gomera is a nature lover’s paradise. It’s completely unspoilt, with lush green vegetation, thick forests, volcanic beaches, stunning natural parks, huge mountains and Mediterranean and subtropical ecosystems.
It’s the second smallest of the Canary Islands, just 375 km².
Unlike some of the other islands, La Gomera has managed to escape mass tourism and still completely untouched by commercialism.
El Hierro
El Hierro is the smallest of the Canary Islands. It’s just 287 square metres in total and located at the most southwest point of the archipelago. Half of the island is protected by the Natural Spaces Act.
This tiny island has a vastly diverse landscape with lush green vegetation, massive forests, spectacular lava formations, natural pools for swimming and many protected species.
Permalink
Posted in For Sale, Fuerteventura, Tenerife at 5:46 am by admin
Property for sale in the Canary Islands is in big demand, Tenerife and
Fuerteventura in particular. The fact that the
Canary Islands are the closest place to
Europe where you can get year-round sunshine is a major incentive for investors, who can rent out their
properties at peak season prices all throughout the year.
Tenerife and Fuerteventura are also idyllic places to live. With their high standard of living, expanding expat community and excellent infrastructure, they’re attracting more and more homebuyers every year.
Canary
Island overview The Canary Islands are located 70 miles off the northwestern coast of
Africa. They’re famous for their spectacular volcanic landscapes, non-stop sunshine and beautiful beaches. Also known as the “
Happy
Islands” the inhabitants enjoy a very high standard of living. All the islands are vastly different from the other. Each has it’s own unique character; from Fuerteventua’s desert-like landscape to La Palma’s lush green vegetation; and from Tenerife’s black volcanic sandy beaches to
Fuerteventura’s endless stretches of fine white sands.
TenerifeTenerife is the largest of the
Canary Islands. It’s a fantastically diverse island with volcanoes, deserts, lush green vegetation, volcanic beaches, and formidable rock formations. It has a perfect year-round climate. With minimum and maximum annual average air temperatures of about 24C in summer and 15C in winter, it’s often called “The Island of Eternal Springtime”. Most of the island’s sunshine can be found in the southern part of the island. You’ll find the highest temperatures in the coastal areas. Along with Los Gigantes, one of Tenerife’s most impressive features is the formidable
Mount
Teide –
Spain’s highest mountain peak. Nowhere on the island can you escape its ever-present gaze. It’s rises to a staggering 3.718 meters high and is often covered in snow. Along with an almost desert-like south,
Tenerife also has an extremely fertile lush green north, one of the island’s most distinctive characteristics. It’s almost like two different islands in one. Some of the main towns on the island include; Santa Cruz de Tenerife (capital); Los Cristianos; Los Gigantes; Las Americas; Costa Adeje; Callao Salvaje; Puerto del la Cruz; Palm Mar; La Caleta; El Medano; Costa Del Silencio; Las Abrigos; Las Galletas; and Playa San Juan.
Fuerteventura
Fuerteventura is where you’ll find the best beaches on the archipelago – miles and miles of untouched virgin beach with fine white sands and crystal clear warm blue waters. It’s a wind a wave surfer’s paradise with excellent conditions all year round. It’s the longest of the Canary Islands and gets over three thousand hours of sunshine a year. It hardly ever rains here. Fuerteventura is situated just 100 kms from the Western Sahara desert. Despite its barren desert-like landscape it still has a very well developed infrastructure. There’s plenty of bars, restaurants, hotels, holiday apartments, water parks, zoos etc. Some of the most popular sports here are wave surfing, windsurfing, Kitesurfing (more recently), big game fishing, snorkelling and scuba diving. Like the other Canary Islands, Fuerteventura has a perfect year round climate ranging from 17°C in January to 25°C in August. Compared to the likes of Gran Canaria or Tenerife, tourism is a relatively new concept on the island, but not for long… Investors have begun to see the fantastic potential of this paradise island and more and more homebuyers are choosing
Fuerteventura over the other islands for its stunning beaches and rapidly expanding infrastructure. New developments are being built all the time, particularly in Correlejo and Caleta de Fuste.
Buying property in the Canary IslandsBuying a new home in a foreign country is a big step – and a major financial commitment. Thankfully, on the Canary Islands, you’re surrounded by a large expat community and many English speaking real estate agents. There’s also a growing number of online property websites so advice and support is never far away. Before you take the plunge, here’s a few quick pointers…Firstly do the research, and then do some more! Until you know EXACTLY what you want.Set your budget (a realistic one) – work out ALL the upcoming expenses. Don’t waste time looking at properties out of your price range and when dealing with agents don’t let them show you anything you can’t afford. If possible, visit the location – go on a holiday there and get a feel for the place. If it’s a buy to let investment, ask around; find out how much people are paying in rent in the area. Finally, use the internet. It’s unquestionably the most useful resource when looking for property for sale in the Canary Islands.
Permalink
06.21.07
Posted in For Sale, Gran Canaria, Lanzarote, Tenerife at 7:17 am by admin
Instead of visiting Estate Agent websites individually, why not log on to www.canaryproperty.com together with its blog www.canarypropertyforsale.com and let them do the hard work for you. Searching for property in the Canary Islands has never been easier. With plenty of property for sale in Tenerife, Gran Canaria, Fuerteventura, Lanzarote, El Hierro, La Gomera and La Palma, your property search in the Canary Islands just couldn´t be more simpler using the most up to date property search facilities.
To advertise on Canary Property contact Gary on info@canaryproperty.com
Permalink
06.15.07
Posted in For Sale, Fuerteventura, Gran Canaria, Lanzarote, Tenerife at 12:09 pm by admin
By doing your research and using qualified professionals you can make your property purchase an interesting and enjoyable experience. There’s a wealth of information on the internet.
Casa Quest is where you’ll find the largest and most varied selection of property for sale Tenerife, Lanzarote, Fuerteventura and Gran Canaria. It’s literally a one-stop-shop for all your Canarian property needs. This unique website displays thousands of properties from some the most well establshed real estate agents on the archipelago.
Buyer’s Guide (Canary Islands)
Before you invest in any property it’s a good idea to thourouoghly research the area, think hard about exactly what kind of property you want (or need) and then visit the location.
Also, make sure your chosen real estate agent belongs to the Confederation Europeene de L’immobilier (G.I.P.E.) or to the Colegio de Agentes de la Propiedad Inmobiliaria (A.P.I.). This implies that they are independent and licensed.
In Spain, the real estate agent offers a comprehensive service that includes: obtaining identification numbers; arranging legal advice; obtaining non residence certs; along with mortgages and financing etc. They normally provide after sales support too.
The research stage
Firstly, pick one of the Canary Islands. Do your research – they’re all vastly different! Are you looking for a home or an investment? Find out about the state of the market as well as facilities, weather, transport, schooling, etc.
Think realistically about the type of property you can afford. Look at a variety of different properties within your price range. This’ll give you a broader knowledge of current market values.
Once you’ve drawn up your shortlist of properties you should take a couple of weeks off and spend it in your chosen location. Contact the agent before hand so they can arrange a viewing schedule.
The purchase stage
This is where you make an offer subject to contract. The solicitor will help draw up the purchase contract and a deposit will be paid.
Once the offer has been accepted, the solicitor will prepare the ‘Title Deeds’ (Escritura in Spanish).
This will need to be signed in front of a Spanish “Notary” – which is someone who works as both a lawyer and a public official. He/she will make sure that the conveyance deed is drawn up correctly and will witness the signing. The notary also collects the fees and taxes.
Once the balance of the purchase price has been paid and witnessed by the notary, the sale is complete.
After completion
After the sale the notary should arrange for the details of the title deeds to be sent to the local land registry for official registration.
Online support
One of the best websites to use is Casa Quest (www.casaquest.com). They offer an unbiased view of the whole buying and selling process. It’s an information site aimed at giving you the most honest and up to date information regarding property for sale in the Canary Islands.
Permalink
