Everything you need to know about buying property in Tenerife — from the first deposit to taxes, mortgages and ongoing ownership costs.
The usual process includes checking the property and documents, signing a reservation or arras agreement if appropriate, completing legal due diligence, signing the public deed before a notary, paying the applicable taxes and finishing registration.
In practice, most foreign buyers need an NIE for property-related transactions in Spain, whether they apply in Spain or through a Spanish consular office abroad.
For most resale properties in the Canary Islands, buyers budget for 6.5% transfer tax. Many standard new-build purchases are budgeted at 7% IGIC plus 1% AJD, depending on the specific regime that applies.
Yes. In many cases a properly prepared power of attorney allows another person to act on your behalf during the purchase process.
Insights
Official 2025/2026 housing data, area-by-area differences, Costa Adeje insights and practical guidance for buyers comparing property prices in Tenerife.