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2 bed flat for sale in Palma de Majorca, Spain, 155 m²

Price€401,000
TypeFlat
Covered area155 m²
Beds2
Bath2
Market infoNew homes
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Environment

Penthouse in Vasco de Gama

Vasco de Gama development, located on Joan Bonet street in L’Olivar-Amanecer area, is considered one of the last opportunities to acquire a new build home within the Via de Cintura in Palma de Mallorca, which is within the city's first road belt.

It is a perfect opportunity to live in a consolidated area which is well-connected within the island. The vicinity of the complex includes large parks, supermarkets, sports centers and various educational institutions.

This promotion can also boast good road connections given its proximity to highway exits such as Ma-20, Ma-13 and Ma-1110. This will allow you to easily move around the island. In addition, Vasco de Gama has several bus stops for lines such as 11, 24 or 29 to connect it with other areas of the island.

Vasco de Gama is a new build residential complex made up of 52 homes with two, three and four bedrooms and amenities. Enjoy a large swimming pool with a solarium and panoramic views of city and its surroundings while being on the roof. Amenities inside the development include an equipped gym and a children's play area, all surrounded by beautiful and well-kept gardens.

The apartments stand out for their unique terraces. They can be accessed directly to the living room so that you can take full advantage to enjoy the beauty and mild climate of the island.

All apartments include a spacious living room that reaches, in some cases, 30 square meters and have at least two bathrooms (one of them en suite). In addition, layout is very well thought out: the kitchen is right next to the living room, so that in the future, you can join both of them to have more space. Moreover, the kitchen and living room are designed to face the exterior of the urbanization, whereas the bedroom is oriented towards a courtyard so that you can enjoy complete tranquillity and rest with one or nothing troubling you.

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

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