Located in the vast Atlantic ocean, Southeast Tenerife is a Canarian gem filled with history. Since its discovery in the 15th century, it has been considered a paradise by explorers and conquerors for its indescribable beauty. The region experienced significant economic boom in the 17th century, becoming an important trading center. This is reflected in the numerous historical buildings, such as magnificent villas and mansions, that dot the region.
Exclusive Real Estate Market
The market for exclusive properties in Southeast Tenerife is currently stable. The demand and supply of luxury houses and apartments are in balance, ensuring smooth and fair trade. The average real estate commission a buyer pays when purchasing a house is between 2-3%, while a seller pays a similar percentage.
Additional Costs When Buying a Property
When buying a luxury house, additional costs such as transfer tax (6.5%), real estate agent commissions, notary fees, and possible building inspection or legal costs should be considered. There's also a wealth tax of 0.3%.
Taxes on Profits and Income
Depending on whether the property is used as a primary residence or as a second/vacation home, taxes will vary. For the sale of a primary residence, the tax is minimum, while for a second home, the tax can go up to 23%. There are also corporate taxes of 25% and an income tax for residents registered in Tenerife that can reach up to 45%.
Mortgage Requirements in Tenerife
To get a mortgage in Southeast Tenerife, one must meet various financial and credit requirements, such as a healthy debt-to-income ratio. You can get a mortgage up to 70% of the purchase price, depending on the bank's valuation.
Exclusive Residential Areas
The most exclusive and expensive areas of Southeast Tenerife include Adeje, Arico, and Villa de Arico, where the most sought-after luxury residences are located. Adeje, in particular, is known for its luxury resort offering, featuring high-end shops, award-winning restaurants, and stunning views of the Atlantic.
Accessibility and Services
Southeast Tenerife is easily accessible by road, with several highways connecting it to other parts of the island. The Tenerife South International Airport is within easy reach, facilitating access to international destinations. Education is of high quality, with the University of La Laguna and other nearby institutions. Prominent healthcare services include the University Hospital Nuestra Señora de Candelaria.
Culture, Sports, and Nature
Southeast Tenerife offers an active lifestyle with water sports, hiking, and golf. The region's museums and galleries, like the Museum of Nature and Man, complement Tenerife’s rich culture. The region is also blessed with lush natural beauty, including the iconic Guaza Mountain and the beautiful beaches of Los Cristianos and Playa de las Americas.
Infrastructure and Population
Southeast Tenerife has an approximate population of 50,000 inhabitants. The public infrastructure is solid and both basic and luxury services are easily available, contributing to a high quality of life. Whether you're looking for peace and quiet, rich history, or exciting nightlife of Tenerife, you'll find a home in Southeast Tenerife.
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