What other expenses can I expect?

    Public Notary Charge . All property purchase agreements have to be signed in front of a Notary and the fees are usually a small percentage of the purchase price.

    Tax - 6% of the declared value of resale property - this is transfer tax. 5% of the value of new property (IGIC)

    Plus Valia Tax – 1.5% of the increased value since the last recorded sale.

    To cover these additional costs, it is recommended that you allow an extra 8.5% - 10% of the purchase price in your calculations.

PORTICO PROPERTIES – BUYING PROPERTY IN TENERIFE MADE EASY