Tenerife Real Estate Blog

You may have heard rumours, we are currently undergoing a total change of plans for the new development of Baobab. The complex will still consist of 140 apartments, with 1, 2 or 3 bedrooms, but they will now ALL face the right way, all terraces will enjoy sunshine from the morning and enjoy uninterrupted sea views over the entire coastline. The apartments will be built in terraces, the minimum surface of the terraces will be 55m² and they will have a functional lay out and a modern design, with large window panes to enable a full sea view, a lot of natural light in the entire apartment, modern bathrooms, fully fitted modern kitchens with islands, and a large etc. A selection of ultimate generation materials will be used for the building of this development.

Baobab will no longer be Baobab, as also its name will change. We will keep you posted on the new name, which has not been decided yet.

We will anounce the new name and all new details in short, don’t forget to have a look on our blog to be kept updated on all modifications. If you want to contact us personally feel free to do so on info@secondhometenerife.com or on tel +34 922 71 55 91.

From 23rd till 29th June, Tenerife will host its second International Film Festival in its capital Santa Cruz de Tenerife. The Guimerá theatre, the wonderful Auditorio and other venues will also hold several meetings, conferences and concerts.

We do not have too many details yet, but during the festival, you may already expect a tribute to the music from Alex North. A selectionof musical pieces used in Stanley Kubrick’s “2001: A space Odyssey” will be performed by the Tenerife Film and Orchestra Choir.

Feel free to find out more via the official website of Fimucité, where you can subscribe to receive all details via your own email address. Or stay tuned for more information on our blog.

The Aguaviva Festival was a great succes last year, and will be better even this year, especially because it will count with a gig from well known Brit Jay Kay, AKA Jamiroquai!!!

The Aguaviva festival will be held from 1st till 15th June this year, and there will be several gigs, workshops, exhibitions, meetings etc… This festival wants to change our mentality and take care of our planet and especially our oceans and seas, and during these 15 days they will do all they can to change our minds with shocking information on the state of our ocean, workshops and exhibitions.

The musical part of the festival is definitely a top act, especially with big names like Jamiroquai. Other confirmed gigs are famous Spanish artists like Chambao, El Canto del Loco and also Superstereo, and the funny Gran Canarian singer Aristides Moreno. More artists will be confirming their act within the next weeks, so stay tuned and check out the website of Aguaviva 2008 by clicking here.

Jamiroquai has enticed us with his excellent Acid Jazz for over 15 years now, and his concerts are real events. His dancing qualities add to this, as well as his exceptional outfits. Who doesn’t remember the classic “Emergency on planet earth” or the dance tune “Canned heat“? Jay Kay will be offering a concert on Friday 13th June in Gran Canaria, and on Saturday 14th June we will all be enjoying his gig at the Olympic Stadium Antonio Dominguez.

Tickets can be obtained through internet on www.lacajadecanarias.es or by phone on (+34) 902 405 504. The first 5000 entrance tickets are sold at 35 euros, after that a ticket will cost 45 euros.

TNT Interview from december 2007:

A second home in the most wanted area of Tenerife!! 

“Through the letting, an owner not only wants to obtain income to cover the fixed expenses, but also wants to obtain an extra benefit from his investment” 

TNT: - In what does the Baobab Resort differ from other complexes?

Filip: The difference is that in Baobab we offer all owners a professional rental management service for short and long term rentals. In other resorts this is impossible! Purely residential complexes have the problem that for short periods (less than 3 months), when the owner is not present, the property cannot be rented out legally. Also, there are no cleaning services nor maintenance services provided. This kind of property will obviously not get such a high benefit because of having your property empty during your absence. In the Baobab Resort a professional rental service company will take care of all rentals, and will offer a full maintenance and cleaning service to the owners as well.

The formula is based on 3 observations.

Firstly, there is a growing need for property which generates a turnover. Thanks to our sales experience, it is very clear to us that offering a turnover for a holiday home plays a decisive role at the moment of purchasing a property abroad. The owner not only wants to cover the fixed expenses, but also wants to obtain a benefit from his investment. Moreover most owners do not want to depend from an acquaintance or a local and unknown office, but they are looking for a professional treatment of their property.

Secondly, the problematic Spanish rental system is also a big issue. For families with children there are actually more than enough hotel rooms available, but a wide selection of holiday apartments where the entire family can stay together simply does not exist. Also, the offer of large holiday apartments will be lower from now on because of the strict controls over the illegal rentals in purely residential complexes.

And thirdly, the always younger generation of owners is now looking for a combination of holiday and benefits. It becomes frequent that often younger people decide to buy a second home. Not only to be able to enjoy the property to the fullest during their short holidays, but also to obtain a high benefit during their absence. 

These observations have helped us towards the realisation of the design of the Baobab resort. A professional rental company will take care for determined periods of time of the rental management. This way we can offer a beautiful apartment with a top situation and fabulous sea views, together with all the necessary services, offering the owners a wonderful benefit on their investment.

  TNT: -Which kind of benefits can an owner expect?

Filip: Thanks to the years of experience of Second Home Tenerife in this number one area of El Duque, the rental incomes are expected to be above the average. Taking in account the prices of the surrounding hotels, we are expecting an excellent turnover. The professional rental management team will be available 365 days a year. The owners will be paid pro rata according to the amount of days they want to rent out their property. The turnover of each property will obviously depend on the occupancy of the owner in his own apartment.

TNT: -What kind of capital gain can be expected when the property is put up for sale again?

Filip: We have very high expectations, especially for the (middle- and) long period, as by then the good reputation and results of Baobab will be more than known. We are certainly expecting a rise between 5 and 10% per year. We have obviously also taken great care in offering great payment facilities to maintain the formula payable. So, for a top of the range property with an excellent situation and an interesting price with very appealing payment facilities:

Prices start at 243.018 euros, there is a reservation fee of 10.000 euros, only 40% is to be paid with the start of the building works, and the remaining 60% is only payable upon completion, which is foreseen for end of 2010. Moreover, we can also set up the mortgage from before the real purchase of the property.

Baobab Resort offers something very different and no doubt will this concept be copied in the future.

The lovely and well designed small residential complex of Villas del Palm-Mar is finished! The houses are now ready to be handed over directly.

As you can see from the pictures, the complex has a lovely communal pool, surrounded by lush tropical gardens. Each house has 1, 2 or 3 bedrooms, fully fitted bathrooms, a fitted kitchen, lounge, terrace with garden and direct access towards the pool, a private garage and a sun roof terrace on top of the house. The houses have been well finished, and the complex only counts with 29 properties, so it is a quiet and residential complex.

Feel free to contact us if you need any other information or you have questions or doubts! You can find us on www.secondhometenerife.com or contact us on info@secondhometenerife.com.

Or click here to go directly on our site and find out more about this lovely new development.

Prefer to make your own search on our site? Click here and browse or search on the name of a new development or an existing resort or complex.

In Jardines del Palm-Mar the building works are also going very well, so we took a picture to show you how quick they are working here. Jardines del Palm-mar is a luxury complex offering apartments with 1, 2, 3 bedrooms, luxury interiors and good views.

Find out all about Jardines del Palm-Mar on its site on: www.jardinesdelpalm-mar.com! Or contact us, for any extra information, details, plans or inside divisions, etc… 

NIE Number. (Numero de Identificación de Extranjeros) and NIF, CIF numbers.

What this number is. It’s a number the Spanish authorities issue to uniquely identify foreigners. It is roughly equivalent to the DNI number each Spanish subject is given for national identification purposes.

Why it is needed. Absolutely anything that will require payments to the Hacienda (Spanish Tax Authorities) or similar identification for Authoritative purposes, will require you to have obtained this number.

How long to get it. Following application, you will normally wait for 3 days till a week, it seldom takes longer.

What it looks like. An example of a number would be X-0902015-R and this is the usual format of the number. It is received in the form of an officially stamped, white paper, A4 size document, bearing your name, date of birth and of course your NIE number. It always starts with an X, and ends with another letter. There are between 6 and 8 digits in between the X and end-letter to make the NIE number complete.

If it gets lost. Once received, you should make several good photocopies and store the original safely. If lost, it is not simply re-issued, you will need to repeat the application procedure, though you should normally obtain the same number again.

How it is used. When asked for your NIE number, in most cases, it will be required by means of

(i) Showing the original certificate, and

(ii) Providing a photocopy of the original. This usually happens when an application of some sort is being made. Once the copy has been compared to the original, the copy is accepted and you will be handed back your original. Don’t ever hand over your original to anyone, as it is the only valid original you have.

Typical things for which this number is a prerequisite -

• Working as an employee or self employed.
• Buying a Car
• Telephone Account
• Electricity Account
• Bank Account
• Buying a Property

Documents normally required for your NIE Application

• Passport Original + 1 copy (Original returned, copy must be readable and picture viewable)
• The official NIE Solicitud (application form, fully completed and signed)
• A form with which you can pay a small fee, which you have to present upon applying for your NIE number.

You can obtain all the necessary forms and do this yourself, as it is not too difficult, but as an office client you can use our services, we can assist you with this.

NIF, CIF Numbers

These are Fiscal and Commercial numbers respectively. You can take your NIE certificate to Hacienda and get a creditsized card bearing your NIF number, this of course will simply be the same as your NIE number, but in a convenient size. The CIF number is normally issued to identify commercial entities such as SL and SA (Limited Liability and Public) companies.