The Real Cost of Owning Property in Tenerife

Why the South of Tenerife Attracts Property Buyers

Buying a home in the south of Tenerife is a dream for many. With its warm weather, beautiful beaches and relaxed lifestyle, places like Costa Adeje attract buyers from all over the world. But while the price of the property is the most obvious cost, there are also other expenses that come with owning a home here. If you are thinking about investing in Tenerife properties, it's good to know what to expect.

Regular Maintenance and Community Fees

One of the first things many people notice after buying is the cost of regular maintenance. If you buy an apartment in a complex, you will likely pay community fees. These fees cover things like pool cleaning, gardening, shared electricity, and general upkeep. In areas like Costa Adeje, where many properties are part of residential complexes with pools or security, these fees are common and can vary depending on the building.

Costs of Maintaining a Private Property

If your property is not part of a community, you will still have regular maintenance costs. Homes need care, especially in the sunny and sometimes humid climate of the south of Tenerife. Regular painting, roof checks, garden maintenance, or cleaning of terraces are all part of keeping a home in good condition.

Property Taxes in Tenerife

Taxes are also something every property owner has to deal with. The yearly property tax, called IBI, depends on the size and location of the home. There are also rubbish collection fees and, in some cases, costs related to the tourist license if the property is rented out short-term. It’s important to be aware of these taxes, especially if you're not living on the island full-time, as missing a payment can lead to penalties.

Possible Surprise Costs

Unexpected costs can also come up. Sometimes there are repairs needed that you didn’t plan for, especially in older homes. Or the community may decide on improvements, like updating the elevator or repainting the building, which means every owner has to contribute.

How a Real Estate Agent Can Help

Working with a real estate agent in Tenerife can make a big difference. A good agency will explain all of these costs before you buy. We help our clients understand exactly what they’re getting into, not just in terms of the property, but also in terms of long-term expenses. Whether you're looking at Costa Adeje or another part of the south of Tenerife, it's always better to have someone guide you through the process.

Enjoying Your Property with Peace of Mind

Owning a property in Tenerife can be a wonderful experience, full of sunshine and peace. But knowing the full picture before you buy will help you avoid surprises and enjoy your home with peace of mind.