Buying in Tenerife

[markiereef]

I am an English guy considering purchasing a property in Tenerife as a winter residence, does anyone have any advice on things to watch out for, pitfalls, legal implications should I wish to sell at a later date. This site (expediaproperty.eu) seems full of useful information, has anyone bought through them? Thank you in advance for any information you have, I need all the help I can get and don’t want to go in blind.

[John]

Hopefully you get good some advice. Hopefully you won't mind sharing it either

I have 2 friends considering purchasing somewhere in the Canaries also. They need advice big time! I was of little help to them apart from to point them in all kinds of other directions.. They have their hearts set, so it fell on deaf ears.

[markiereef]

Sure I will share my findings with you but so far nothing from this forum. I see your looking for agents, you could also try tenerife-marketing dot com they have been very helpful.

[Gerry Pridham]

Hi Mark and John,

I have a great deal of experience in Fuerteventura, but no other Canary Islands. Things are slightly different to Spain, but not much. My wife and I bought 8 apartments at a run down complex for investment last year, and towards the end of 2007, we have helped six more of our investor colleagues to buy a further 21 apartments on the same complex.

We have assigned a locally based agent (and his extended family) to take care of cleaning, decorating, refurbishment and long term lettings of these apartments.

In October, I rented an apartment myself in Caleta as a home/office, and have made 9 trips over there to register and grow a small Spanish company.

I look forward to 2008 greatly, as I already have orders for a further 7 apartments.

Regarding costs, I have very detailed examples, having had to do the cash flow forecasts for my investor colleagues, and I have used three lawyers and two accountants to date.

If I can be of any specific help, please ask.

Regards, Gerry