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  • UK: +44-20-3769-6417
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A house for sale in Palma de Majorca, Spain

A house for sale in Palma de Majorca, Spain - photo 1
A house for sale in Palma de Majorca, Spain - photo 2
A house for sale in Palma de Majorca, Spain - photo 3
A house for sale in Palma de Majorca, Spain - photo 4
A house for sale in Palma de Majorca, Spain - photo 5
Price€1,500,000
Typea House
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Description

Amazing apartment of new construction from the Builder located on the first line near the beach and have panoramic sea views. Offers apartments, duplexes and penthouses with 2, 3 and 4 bedrooms, terraces, modern kitchens and bathrooms using materials of the highest category. The complex will be completed in June 2015.

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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Interest Rate
2 588 per month
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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%
Company Representatives
in Spain
Barcelona, Marbella, Mallorca, Tenerife
+34 (931) 720-189
in UK
London
+44-20-3936-4067
in Russia
Moscow
+7 (495) 240-81-87
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