When you buy an apartment in a complex in Tenerife, you’re essentially purchasing a share of the company that owns the complex. Your title deeds will indicate your ownership percentage— for example, you might own 0.02 of the entire complex. This ownership structure also plays a key role in calculating your community fees, which are essential for maintaining shared amenities and services.
While most properties in Tenerife are not leasehold, a few leasehold options do exist, although they are relatively rare. One example is a leasehold property I’ve encountered in Los Gigantes. In this case, you buy the property but are required to return it after the lease expires. However, it’s important to note that leases can often be extended, providing more flexibility for homeowners.
If you’re considering buying property in Tenerife, understanding the different ownership structures—such as ownership in a complex versus leasehold options—is crucial for making an informed decision.
