Tenerife South-west - Tenerife South-East - Arona

The beauty of South Tenerife is rooted in its captivating history and charming location. Situated as the southern tip of the island of Tenerife in the Canary Islands of Spain, this area is known for its historical landmarks that exude rich traditions from the past. Its geographical location encompasses different natural wonders characteristic of an island paradise, including stunning beaches, majestic mountains, and flourishing natural parks.

The Luxury Real Estate Market in South Tenerife

The market for exclusive properties in South Tenerife is currently solid and stable. The demand for luxury houses and apartments perfectly balances with the supply, making it an attractive market for investors and home buyers. The political and economic situation in South Tenerife is also stable, which adds an additional layer of security to real estate investments.

Costs and Commissions when Buying a Luxury Property

When buying a luxury home in South Tenerife, it is important to take into account certain additional costs such as transfer tax, real estate agent commissions, notary fees, and possible building inspection or legal costs. The average real estate commission is 5% for the buyer and the same percentage for the seller. The transfer tax is 6.5% in South Tenerife.

Taxes and Mortgage Requirements

The wealth tax on the private ownership of a house in South Tenerife ranges from 0.2% to 2.5%. If you sell a main residence in South Tenerife, you do not have to pay capital gains taxes. However, if you sell a property that is used as a second home, you must pay taxes on the gains. Residents in South Tenerife must pay an income tax of up to 47% depending on their income. Companies registered in South Tenerife must pay a corporate income tax of up to 25%.

Luxury Life in South Tenerife

South Tenerife is known for its luxurious residential areas such as Costa Adeje and Playa de Las Americas, both packed with luxury homes and panoramic views of their beautiful beaches. This area is easily accessible by well-maintained roads and is a short drive away from Santa Cruz de Tenerife, the nearest city. The nearest airport is Tenerife South Airport, which is just a few kilometres away from the main residential areas. Nearby education facilities include La Laguna University and a variety of prestigious schools.

Scenery and Fun

South Tenerife is a province of Santa Cruz de Tenerife with a population of 900,000 inhabitants. The environment immerses you in the beauty of nature with its subtropical climate, beautiful beaches, and natural parks. Here, you can enjoy everything from water sports to mountain hiking. South Tenerife offers an opulent selection of luxury shops, five-star hotels, Michelin-starred restaurants, and high-end nightlife. Annual events include the world-renowned Santa Cruz de Tenerife Carnival and numerous music and culture festivals. Fascinating museums like the Museum of Science and the Cosmos and the Museum of Nature and Man await you, as well as theatres and art galleries. Alongside all these facilities is the availability of world-class hospitals and clinics, ensuring your health and well-being are well looked after while you are in South Tenerife.