In addition to the property price, it is generally recommended to have an additional 8% to 10% available to cover taxes, notary fees, property registration, administrative costs, and other expenses related to the purchase process. Buyers should also consider the initial contribution not financed by the bank.
Banks typically finance up to 80% of the purchase price or valuation for primary residences, although certain buyer profiles may qualify for higher financing percentages.
The main purchase costs are: ITP (6.5%) for resale properties, IGIC + AJD for new-build properties, notary fees, Property Registry fees, administrative/processing fees, and mortgage valuation fees.
A Nota Simple is an official document issued by the Spanish Property Registry showing ownership information as well as any charges, mortgages, embargoes, or legal limitations affecting the property.
An easement is a legal right that may affect the use of a property. For example, there may be a right of way allowing third parties access through part of the land, or easements related to utilities, electricity, or access to neighboring properties. It is essential to review these before purchasing, as they may limit certain uses of the property or land.
A reservation agreement is usually used to temporarily hold a property while the necessary documentation is prepared. A deposit contract ("Contrato de Arras") establishes a legally binding commitment between buyer and seller.
The following documents are usually required: ID/NIE, payslips, tax return, employment history report ("Vida Laboral"), employment contract, and bank statements.
The FEIN is the official binding mortgage offer issued by the bank before signing the mortgage deed.
It means the property may have a mortgage, embargo, community debt, or another pending legal obligation attached to it. Before completing the purchase, it is essential to verify that these charges can be properly cancelled.
The timeline depends on each transaction, but generally ranges between 30 and 90 days when mortgage financing is involved.
It is recommended to review the following: Property Registry status, urban planning situation, community debts, outstanding property tax (IBI), utility status, possible easements or legal limitations, and energy efficiency certificate.
Yes. Foreign buyers can purchase property in Spain without any issue. They simply need to obtain an NIE number and comply with the relevant legal and banking requirements.
Yes. Tenerife has strong residential and holiday rental demand, making it a highly attractive location for real estate investment.
A property's value depends on factors such as location, condition, demand, size, views, documentation, and the current market situation.
Yes. At REALVILLA we offer a free, no-obligation property valuation service.
The selling time depends on the price, area, and marketing strategy used. A correct valuation usually helps speed up the process considerably.
The following documents are usually required: ID, title deed, Nota Simple, IBI receipt, energy certificate, and latest utility and community receipts.
Yes. The mortgage can be cancelled during the sale process.
In most cases, the inheritance must first be accepted and registered before the property can be sold. Depending on the situation, both processes can sometimes be managed simultaneously.
Yes. We publish properties on both national and international portals to maximize visibility. On our website you can see all the portals we collaborate with.
Yes. We pre-screen buyer profiles and work with buyers who have already undergone financial analysis in order to avoid unnecessary viewings.
A fixed mortgage maintains the same monthly payment throughout the life of the loan, while a variable mortgage fluctuates depending on the Euribor rate.
The Euribor is the benchmark interest rate used by most variable mortgages in Spain.
In certain cases, yes. It depends on the buyer's financial profile, age, type of property, and the bank's conditions.
Yes. Banks place significant importance on job stability and differentiate between permanent, seasonal permanent, and temporary contracts.
Financial institutions generally recommend that the mortgage payment should not exceed 30% to 35% of monthly net income.
Yes. We provide a mortgage calculator designed to help you estimate monthly payments, expenses, and approximate financing conditions.
Because we combine real estate advisory, financial analysis, and strategic marketing to provide a complete, professional, and personalized service.
Mainly yes, although we also work with national and international clients interested in buying or investing in the Canary Islands.
Professional guidance helps identify legal risks, review documentation, negotiate more effectively, and avoid common mistakes during the purchase process.
Yes. Many of our properties include professional photography, video, and 360° virtual tours.
Yes. Some properties allow offers to be submitted directly through the website using the "Make an Offer" system.
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Avg. Price in Tenerife (South)
Property Value Growth
Current Euribor (12-Month)
