How to Buy a Property in Tenerife

Guide to Buying Property in Tenerife

*Pease note that the process for buying new build properties varies slightly – see note at bottom of section.

• 1. Get an NIE number To buy a home in Spain, you must have, or get, a Numero de Identificacíon Extranjero, or an NIE. It is usually a simple process and our team will assist you with this.
• 2. Open a Spanish Bank Account You’ll need a Spanish bank account to receive funds for your property purchase and to pay utility bills and other ongoing costs after completion. Our team can help you set up the account if required.
• 3. Mortgage Advice (where applicable). IIf you need a mortgage for your Tenerife property, we work with trusted lenders who offer finance for both residents and non-residents. Non-residents can typically borrow 60–70% of the property value, while residents may be eligible for up to 80%, subject to valuation and lender criteria. Please ask if you’d like assistance.
• 4. Establishing your Budget and Criteria. Your budget should include your available liquid funds and any provisional mortgage offer (where applicable). Please also allow for approximately 10% additional costs to cover the purchase completion process, including legal and registration fees, notary fees, and Property Transfer Tax (ITP).
• 5. Arrange Property Viewings. Now you have your budget in mind, the fun part starts! We will take care of all arrangements, and accompany you on all viewings.
• 6. Make an Offer on Your Dream Home. When you find “The One”, we will take care of negotiations to help you secure your ideal property in Tenerife.
• 7. Instruct a Local Law Firm With your offer accepted, its time to appoint a legal representative, if you haven’t done so already.
• 8. Reservation Agreement and Deposit. Clear Blue Skies will create a reservation agreement and you will pay a holding deposit to take the property off the market.
• 9. Contract Stage & Balance of 10%. Clear Blue Skies will prepare the purchase contract for approval by your legal representative, with an agreed completion date. Upon signing, the remaining balance of the 10% deposit is payable. You’ll then finalise your mortgage and transfer funds to your Spanish bank account. We can also advise on the most cost-effective way to exchange currency.
• 10. Completion at Notary. Clear Blue Skies will accompany you to the Notary to oversee the legal completion of your Tenerife property purchase and ensure everything runs smoothly. If you are unable to attend in person, completion can be carried out on your behalf through a Power of Attorney, by us or by your legal representative, giving you complete peace of mind wherever you are.
• 11. Move In . The big day arrives – you receive the keys to your new Tenerife home and start the next exciting chapter. If you need assistance with furniture, fixtures, fittings, or any other post-completion services, just let us know.
• 12. Property Registration Once the purchase is complete, your legal representative will take care of transferring the title deeds into your name. They will handle all legal formalities and registrations on your behalf, ensuring the process is completed smoothly and your ownership is officially recorded.
• 13. Set up Accounts for Services & Utilities. Following completion, we will assist with transferring all relevant property services and charges into your name, including utility accounts, local council (municipal) taxes, and community fees where applicable. Our team will liaise with the relevant providers and administrators on your behalf, helping to ensure a smooth transition of ownership and giving you one less thing to worry about as you settle into your new Tenerife home.
• 14. Enjoy!

Please note: Purchasing a new-build property follows a slightly different process to buying a resale home. Payments are typically made in stages throughout the construction period, with the final balance—usually around 60% of the purchase price—payable upon completion and handover of the property.

DISCLAIMER – Whilst every effort has been made to ensure the accuracy of the information provided, it is for general information purposes only and does not constitute legal advice. Independent legal and financial advice should always be obtained in relation to any property transaction.