Bargain Tenerife Property – The Current Market Value.

One of the problems with being a Tenerife Estate Agent is that vendors have an unrealistic view of the value of their property.

Vendors find it very difficult to comprehend that the price of their property has fallen substantially during the current recession. A high proportion of vendors will not reduce their prices because they genuinely believe someone will pay what they are asking. Part of this problem stems from vendors citing other similar properties which are on the market as the basis of their own valuation. That may have been plausible before the recession but that is certainly not a valid yardstick now because most of those properties probably will not be selling in the current market.

In stark contrast, the true value of a property today is what someone is prepared to pay. Most buyers in the current market are aware that there is plenty of opportunity to find an excellent property at a bargain price. In our opinion, a bargain price is one that is 20-25% less than it would have been a year ago.

Never mind what the valuation statistics tell you,  the current market value of  a  property is the price at which a sale is acheived . Most purchasers would now expect to make an offer substantially lower than the asking price of a property at the moment. There are a few predatory property investors in the market and although they are making offers, they are not always accepted.

Expedia Property SL specialises in Tenerife bargain property so if you are looking to invest we will steer you in the direction of true bargain Tenerife property, never mind what anyone thinks the current market value is. Contact us

Blog posted by Expedia Property SL – Tenerife Estate Agents for Tenerife Property

Tenerife Property Prices – March 2009

Tinsa, a leading Spanish property valuer has recently published figures showing the relative values of  non commercial property over the past 12 months.

The report shows that residential property values in the Balearic Islands and Canary Islands have fallen by 8.3% during the twelve months preceeding March 2009. The figures for January and February were -8.2% and 7.6% respectively. The last period with positive growth in property prices was May 2007 to May 2008, since then property prices have fallen although not as dramatically as elswhere in Spain. It is also interesting to note that the Spanish Islands were the last area to experience deflating property values, but May 2008 was the time when most property prices started falling.

For the same 12 month period to March 2009 property prices have fallen by 10.2% in large cities, 9.6% in metropolitan areas and 11.5% on the Mediterranean Coast. From this we conclude the Spanish Islands, including Tenerife are fairing better than elswhere in Spain. The Tenerife property market is still buoyant with buyers, although they are mostly from within the Euro zone. We are finding that British buyers are still cautious, they have been disadvantaged by  the weak pound. Everyone is eager to see when property prices start rising again.

Blog posted by Expedia Property SL – Tenerife Estate Agents for Tenerife Property

Luxury Contemporary Tenerife Villa – An aspiring Tenerife Property

Luxury Contemporary Tenerife Villa

This recently completed beautiful two storey luxury Tenerife contemporary villa is in a nice quiet scenic location just a few minute’s walk away from the centre of the village. There are wonderful sea views from this property.

It is spacious and has three bedrooms, one en-suite, two further bathrooms an open plan lounge kitchen and dining area with large galleried landing for additional living space. There are two balconies and a covered terrace There is also a very large basement garage area with parking for six cars, perhaps with scope for additional development subject to consent. The garage has a ramp down from the street where there is an electronic gate.

Add an exceptionally large swimming pool and outside sunbathing area and you have the perfect residential or holiday home in the sun. The villa offers good rental potential for investment.

The villa is well constructed and has a light airy feel with high ceilings and excellent quality fittings throughout. There are lots of very attractive polished stainless steel and glass balustrades which are an impressive feature, the décor is neutral and the new owner gets to choose the kitchen subject to agreement on price. There is also a 10 year build guarantee.

The house is double glazed with quality anodized frames, there is pre-installation of air conditioning to the bedrooms and a video entry system.

Callao Salvaje is only a 20 minute drive from the airport and has good access to all the Tenerife amenities including a plethora of quality golf courses only a short drive away.

This Tenerife property is well priced and is considered to be a bargain opportunity for a discerning buyer. This is one of the most aspiring Tenerife property developments we have seen.

Visit the webpage of this Luxury Contemporary Tenerife Villa and see more photos.

Tenerife is wonderful place to spend your time relaxing, it is also becoming recognised as a Golf Paradise.

Offered for sale by Expedia Property SL – Tenerife Estate Agents

Spanish Inheritance Tax Saving Scheme for Wealth Protection

A Spanish Inheritance Tax Saving Scheme and a Wealth Protection Strategy for your Tenerife Property

The purchase of a property here in the sun is an exciting journey to be embarking upon.  You will be living a part of your life in a lovely area of the world and we want you to enjoy it as much as we do!  We want to make sure that you will not have any nasty surprises along the way and with this in mind we would like to draw your attention to the fact that when you buy a Tenerife property, whether that is through us or not, you will be owning an asset that is subject to different tax rules to those that you are used to in your home country, inheritance tax rules are particularly variant.

For a start there is only about €16,000 of tax relief per person available to offset against inheritance tax, so between 25% and 50% of your property value could disappear into the Spanish taxman’s pockets when you die; next, if you are buying a second hand property there is a 7% purchase tax to pay as well as about another 2% or 3% in legal and tax costs, so that’s about 10% altogether; thirdly capital gains tax is charged on the profit you make if you sell your property in the future, even if the property is your main home – this is all probably quite different to what you are used to.

Well you can escape these problems by making use of Spanish, EU and UK Tax Law.  If you are a citizen of the EU and are looking to buy a Tenerife property for €150,000 or more then you can buy your property using a UK company and thus quite legitimately and legally effectively remove your dream home from taxation in Spain and transfer it into the UK corporate tax system which is far friendlier.

You can then remove your Tenerife property’s value from UK inheritance tax using either or both of your personal reliefs of £312,000 and/or by passing the shares of the trading company owning your property tax free to your beneficiaries; the 7% Spanish purchase tax will not apply either and although a 3% capital gains tax retention will be charged if you sell your property in the future it can be totally reclaimed because the transaction will be taxable in the UK and not Spain – which means you can make use of some very generous tax reliefs in the UK.

Finally, the cost of buying your Spanish property using the UK company mechanism will clearly be a lot less than buying as an individual because you will be paying just €8,500 plus about 2% of the property value instead of about 10% of the property value.

Please let us introduce you to our wealth protection strategists who will talk you through Inheritance Tax and Capital Gains Tax issues in more detail and provide you with a free no obligation illustration so that you can save a lot of money and also keep smiling in the sun with the rest of us. You can easily deal with Inheritance tax issues now and remove the burden from yourself and your beneficiaries.

And finally if your worldwide assets and income are significant and you are therefore paying any tax at all anywhere in the world then our tax strategists may well be able to help you achieve things that your accountant and financial advisers simply cannot.

Please contact Expedia Property SL – Tenerife Estate Agents for more information about this Spanish Inheritance Tax saving scheme  and get advice to develop your own wealth protection strategy.

The same rules apply for all Spanish Property and property assets in the Canary Islands.

Blog posted by Expedia Property SL – Tenerife Estate Agents for Tenerife Property

Exclusive Tenerife Property – Luxury Villa

Exclusive Tenerife Property - Luxury Villa

 

A beautifully presented detached luxury villa with a large private heated pool offering panoramic views to the coast, sea and mountains. The property is a new construction, built on 3 levels and set on a plot of 750m2.

Downstairs comprises of a large open plan kitchen and  dining room leading through to the spacious living room where the views can be enjoyed from every angle.  There is a second living area complete with en-suite bathroom, which can be used as the 4th bedroom if necessary.

On the first floor is the master bedroom consisting of a luxury en-suite, walk in wardrobe and patio doors leading out to the enormous terrace with uninterrupted sea views.  There are 2 further large bedrooms with fitted wardrobes and each has its own terrace and luxury en-suite bathroom.

Outside there is an abundance of open space with another large covered terrace that offers commanding views of the pool, mountains and the neighbouring island of Gomera. The surrounding garden areas are well kept and maintenance free and accommodate a large Jacuzzi which yet again takes in the magnificent views.

The Villa is accessed through private electronic gates, the larger leading to the driveway and spacious garage easily holding 2 cars and there is also an additional area which can be knocked through to create more space.

This exclusive Tenerife property is in superb order throughout, not only the tasteful décor, good quality furnishings but also  extremely high levels of equipment such as air conditioning and an excellent CCTV security system.   This prestigious property comes with everything inclusive and should appeal as a virtual “Turn Key” purchase.

Visit the webpage of this Luxurious  Four Bedroom Four Bathroom Villa Roque del Conde Adeje Tenerife and see more photos.

Alternatively take a virtual tour of the Luxury Villa

Tenerife is wonderful place to spend your time relaxing, it is also becoming recognised as the new Golf Paradise.

Offered exclusively by Expedia Property SL – Tenerife Estate Agents

Tenerife Property Investment

Many British tourists have discovered the paradise island of Tenerife, usually because they arrived here on a package tour and through the course of their holiday they fell in love with the place. That is part of the reasom why many Brits have invested in a property here, there as many as 40,000 UK owners and of those, around 20,000 properties owned by expats who have made their home on the Island. Those statistics are conservative but even so, they do demonstrate a very strong British commitment to Tenerife property investment.

Those that have secured a piece of Tenerife Property would say that it is was the beauty of the Island and the all year round climate which motivated them to enter the Tenerife property market. Many of those early investors have enjoyed significant growth and surprisingly the market is still holding out well.

Believe it or not Tenerife is still worth a look for investors, even in the current market, why is that? The reason is because some of those early investors are now disposing of their Tenerife properties for personal reasons at low prices because they can afford to. Some are actually making huge gains because the exchange rate has gone in their favour.  Some British sellers are being very sensible about the asking price of their property which offers property investors scope to make better gains when property prices do start rising again.

There is always a reasonable property to be found in Tenerife if you know where to look. Why not let Expedia Property SL, Tenerife Estate Agents, help you find a Bargain Tenerife property without obligation.

The Tenerife Property Market is holding out well

The Tenerife property market is holding out well with steady sales being made despite the recession. Tenerife has always been a popular property investment location because it has all the magic ingredients, tourism, good rental yields and strong growth. Tenerife Property prices overall, may not have dropped dramatically in Tenerife but some British sellers are accepting low offers because they are able to make large gains when converting the sale proceeds from Euros back to pounds.

This unusual phenomenon, due to the recent steep slide of the Pound against the Euro, brings a status quo to the Tenerife property market with UK sellers benefiting from good returns and buyers, especially from the Euro zone, securing a property or business at a preferential price. Posted by Expedia Property SL, Tenerife Estate Agents marketing Tenerife Bargain Properties and Businesses at preferential prices for investors.

Blog posted by Expedia Property SL – Tenerife Estate Agents for Tenerife Property

Tenerife Property Developments

Most property developers on the Island slowed down their construction programmes in line with decreased demand for Tenerife Property Developments as the current recession took hold and the property market declined. There are many established property developers on the Island with good track records and some are enticing buyers with very good offers in order to sell on some of their stock. Expedia Property SL, Tenerife Estate Agents are also reporting that some off plan investors have been unable to complete their purchases and in some cases those properties are being sold by the Developer at bargain prices.

Blog posted by Expedia Property SL – Tenerife Estate Agents for Tenerife Property

Los Cristianos Property

Many British visitors to Tenerife have invested in a Los Cristianos Propertywhich in the past has been a property hotspot with prices rising due to the desirability of Los Cristianos as a tourist destination. Prices are still holding out well despite the recession with buyers being attracted by strong letting potential due to the all year round climate. Los Cristianos property buyers are still being attracted from the UK and also from the ever increasing Euro zone. Most purchases are at prices considerably lower than they would have been prior to the recession. Tenerife Property will always be a strong contender for foreign buyers contemplating a purchase and most Tenerife Estate Agents are confident that Los Cristianos will almost certainly be a hotpsot again as soon as the world economy improves.

Blog posted by Expedia Property SL – Tenerife Estate Agents for Tenerife Property

Live the Good Life in this Large Tenerife Bargain Rural House

Large Canarian Rural House

Live the good life in this amazing large Canarian Tenerife Rural house in Tejina de Isora only 20-25 minutes from Los Cristianos.

 

This type of house is rarely available and it has a mass of interesting features. The plot is 680 square metres of which the main house footprint is 130 square metres. There are various outbuildings but still there is a great deal of cultivated land.

 

Enter the courtyard to the side which has vehicular access and there is a large pergola, a traditional Canarian kitchen, large bread oven, a store room currently used as a mill, a wine press room and a toilet. Through the courtyard to the rear of the property there is a large garden which has its own well, a subterranean wine bodega with stairs and a livestock area.

 

There is a large full size basement garage and storage area with vehicular access from the road.

 

The ground floor is a large open plan garage area, also with road access which has parking for many cars. It could be used as a workshop or it could be converted into further living accommodation, subject to consent. It already has three sanitary cubicles.

 

The first floor is a large well presented three bedroom two bathroom apartment. The staircase leads on up to a large roof terrace, a laundry room and there is a further stairway up to another terrace with panoramic views. The house has a very high standard of finishes.

 

This gem of a Tenerife Property is located in the centre of a quiet Spanish village and the property affords amazing views down to the coast, across to the Island of La Gomera and up to the mountains. What more could you want, this house is a bargain tenerife property.

 

Visit the web page for the Large Canarian Rural House in Tejina de Isora Tenerife

 

Offered exclusively by Expedia Property SL – Tenerife Estate Agents