• Spain: +34 (931) 720-189
  • Office in UK: +44-20-3769-6417
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Business for sale in Garachico, Spain - photo 1

Business for sale in Garachico, Spain

ID: 279936
Price€4,500,000
TypeBusiness
Land area13000 m²
Qualify for Residence Permit
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Environment

Business

Are you thinking about investing in a small hotel that is 100% operational and profitable? We offer you the opportunity to purchase a beautiful country hotel with 26 units in the north of the island. The hotel consists of an estate of 13.000m2 with gardens and orchards, dining room, kitchen, utility room, office, laundry, reception, sports area with tennis court, cricket, swimming pool, solarium, several sun terraces and parking. For further information please make an appointment with us.

Extra Сosts when Buying Property

WITHOUT MOTGAGE
VAT for new residential properties 10%
VAT for new commercial properties and plots of land 21%
Property Transfer tax for re-sale property 6-10%
Stamp Duty 1%
Notary and Land Registry fees about 2%
WITH MORTGAGE
To the expenses noted above add:
Bank mortgage fee, of the value of the mortgage 1%-1.5%
Mortgage deed tax 1.5%
Land Registry and notary expenses about 2%
Bank valuation of the property from €300
Documents translation from €200
Insurance payments for the first year from €300/год

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Ongoing Ownership Costs

Annual property ownership tax, calculated on the cadastral value 0.5-2%
Non-resident income tax (the base for the applicable tax rate is generally 2% of the cadastral value) 25%
Annual wealth tax 0.2%-2.5%
Rubbish Collection Tax €100-200 p.a.
Community expenses for condominiums and urbanisations from €300 p.a.
Water and electricity rates €100-200 per month

Additional Services Costs

Legal fees about 1%
Estate agency fees 3-5%

Return on Investment

Property Price
Rental Cost
0%
Helga
Offices in Spain
Barcelona, Marbella, Mallorca, Tenerife
+34 (931) 720-189
Office in UK
London
+44-20-3936-4067
Office in Russia
Moscow
+7 (495) 240-81-87
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