Buying Property in Costa Adeje

10th December 2018

The Canary Islands have always been an incredibly popular place for holidaymakers, investors and permanent residents, and Tenerife is probably the most sought after location within this fabulous cluster of islands.
Digging even deeper than this, we land in the beautiful area named Costa Adeje which is a coastal region on the South West coast. Specific locations in Costa Adeje include:
  • Playa de las Americas 
  • Puerto Colon
  • Torviscas
  • Fanabe
  • Playa del Duque
  • La Caleta
  • Playa Paraiso
  • Callao Salvaje
Costa Adeje is sought after as a holiday destination and a place of permanent residence for people of all nationalities, largely due to its perfect climate, incredible beaches and stunning beauty.
So, you are looking to buy property in Costa Adeje... Right?
Aside from having an immense variety of property for sale in Costa Adeje, we also like to provide our clients with as much information as possible to help them make informed decisions throughout the buying process.
“I’d love to buy a property in Costa Adeje, but I just don’t know where to start!”
This is something that we and our agents hear all the time, and we have broken our advice down into the following sections.

1. Why do you want to buy property in Costa Adeje?

Is this a holiday home, an investment or a permanent residence? Evaluate the core reasons why you want to live here, measure this against the area that you currently reside and make an informed decision based on your relationship with Costa Adeje and what living here might do for you on a personal level.
  • Will it improve your lifestyle, health, relationship?
  • Where will you work?
  • Have you visited the area before? If you haven’t, you should!
  • How often will you see your family?
  • And so on…
The gist here is not to make an impulse decision, make sure it is right for you and your family as your happiness is the main goal here.

2. Budget and other Costs

Great… We have made all of the emotional decisions. We are definitely moving to Costa Adeje, hooray!
You know your budget, so let’s start looking for properties. For a quick review of what we have to offer you can check out properties in the below price ranges:
  • Up to 150,000
  • 150,000 to 200,000
  • 200,000 to 250,000
  • 250,000 to 300,000
  • 300,000 to 500,000
  • 500,000 to 750,000
  • Over 750,000
Other than the price of the property itself, there are other costs that you should add into your budget such as:
  • Legal costs and taxes such as Spanish Notary Fees, Stamp Duty and Solicitor fees 
  • Community fees (payable for some properties in complexes)
  • The typical running costs such as water and electricity 
Consider all costs payable in order to make the best of your budget. 

3. Requirements 

Now it’s getting serious, you are moving to the beautiful Costa Adeje and have all of your costs planned out. 
So what are the requirements for moving to Costa Adeje? 
Here are some of the things required and noteable when moving to Costa Adeje, although they may vary between nationalities: 
  • Register with the Spanish Government. Find information and apply here>
  • Apply for a Social security number, find your nearest office here> 
  • You are eligible for state run healthcare if you are registered to work in Spain and make National Insurance contributions, if you are a permanent resident but not covered for healthcare this way then contact your local INSS office
For further information on requirements for living in Tenerife you could visit your home countries government website. British nationals can visit the website here>

4. Purchasing a Property 

Now let’s get down to business. You are aware of all requirements and costs involved and are ready to purchase your dream property in Costa Adeje. 
First of all, you will need an Número de Identificación de Extranjero (NIE) number. If you do not already have this you can apply by obtaining an application form at any NIE office or obtaining this online.
Purchasing a property in Costa Adeje generally requires a 10% deposit. If you are looking to obtain a mortgage on a property, you will be required to produce a number of documents. These include: 
  • A credit report
  • Proof of deposits of the difference between the purchase price and mortgage amount 
  • Previous 6 months bank statements 
  • Previous 6 months payslips 
  • Up to date balance sheet 
Mortgages generally take up to 6 weeks to obtain, producing all the required paperwork quickly will help the process run more smoothly.
Now you are ready to buy your dream property in Costa Adeje. At Canarian Properties, we work with a huge selection of Estate Agents across the Canary islands to offer you the best selection of properties for sale. So what are you waiting for, find your dream property in Costa Adeje today. Please contact us for further information >