Real estate property in Canary Islands is undeniably a piece of cake in all senses. First, buying property, you actually acquire the personal area of a tropical paradise, which, thanks to the owner each reusable Schengen visa will be always at your fingertips. Here it should be also noted that multiple year Schengen visa entitles you to spend a lot of time in Europe – quite legally and with the knowledge that you are the property owner. Second, Canary Islands real estate actually means extremely favorable financially acquisition, which then for years to come will be “working” for you, and with no effort on your part.
This paradise attracts with its charming tropical exotic and natural beauty, excellent service and a comfortable, carefree, and fun to life terms. A year-round beach season will repeatedly increase the investments and offer very quick return on the acquired Canary islands real estate property. Thanks to endless stream of tourists and for the opportunity to rent out your property in the Canary Islands, a good profit year round will be ensured to you. Third, if you have an existing property, then, later on, you can make it into various transactions, including sale or transfer by inheritance, regardless of whether you have permanent resident status in Spain (resident) or not. It should be noted that the owners of property in the Canary Islands have the possibility to obtain a mortgage loan in the Bank of Spain
So, what causes can push you to buying property in the Canary Islands?
- You want to buy a property for yourself. In order to have a kind of “country house”, not the one just out of the city, but on a tropical island. When buying a house, condo or apartment in Tenerife or any other islands in the Canaries Islands, you are inserted into a vast catalog of the wealthy, cosmopolitan.
- You want to buy a property to form your own business in this field. The benefits of this investment will also be numerous and unconditional. Gone are the days when real estate was worth mere pennies, and did not bring valuable income, in recent years, thanks to the policy of administration and financial management of the region, all real estate in Spain – especially the resort areas – has risen significantly and continues to grow in value.
- Preparation of documents for the purchase of real estate in the Canary Islands, though, and will require your attention, but not too much trouble. The whole system of real estate in Spain and the Canary Islands is built quite comfortably – especially the purchase of spa facilities at one of the seven major islands of the Canary archipelago (eg, the possibility of taking a mortgage loan in a Spanish bank for a period of 15 to 25 years under 4.6% APR for 50-60% of the purchase price).