Property for sale in Fanabe

The Benefits of living in Fanabe. There are huge benefits for people from the UK and elsewhere to buy property in Fanabe. The all year summer-like weather is the obvious attraction, but Tenerife offers so much to almost everyone whether the extremely low cost of living, the beautiful mountains and pine forests or just the fabulous low key lifestyle of foreigners and locals alike, on these, the aptly named “Fortunate Islands”.

Many people are now exchanging their dowdy lifestyle back home for the beautiful sub-tropical climate enjoyed here, and with the renewed confidence, wealth, and aspirations of

Europe’s forty, fifty and sixty something’s, there is ongoing demand for property in Fanabe, particularly in the South around Playa de las Americas. However there are many subtle differences in the way property is transacted in Spain and its islands so it is important to do your homework in advance and ensure that you have experienced professionals helping to guide your purchase.

How is Property sold? Most property is sold, as in the U.K., through a ‘’Lupain Tenerife Estate Agents’’. When you see an advert or find a property you would like to view on an agents’ website, you can visit the property with the agent’s representative, and if you are interested in purchasing, make an offer to the Estate Agent. Property owners here generally know the value of their property but some negotiation normally takes place with the Estate Agent mediating. It is very common here for properties to be sold furnished and one other thing to note is that there is no formal survey system here so you need largely to use your own judgement on the condition of the property.

What is the procedure for purchasing? If your offer is accepted, you will be asked to pay a deposit, normally of 10%. It is wisest at this point to appoint an independent lawyer who will look after solely your interests. The cost of a lawyer locally will depend on the value of the property you are buying and the work involved but for a standard apartment purchase would normally be in the region of 1500 - 2500€.