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3 bed flat for sale in Torremolinos, Spain, 115 m²

3 bed flat for sale in Torremolinos, Spain, 115 m² - photo 1
3 bed flat for sale in Torremolinos, Spain, 115 m² - photo 2
Price€420,000
TypeFlat
Covered area115 m²
Beds3
Bath2
Market infoNew homes
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Environment

Apartment in Residencial Alamar

Alamar residential development is located only 200 meters away from the beach, in Torremolinos. Specifically, on Gad street, in Los Álamos urbanization. This municipality, located 20 minutes by car from the center of Malaga, has become one of the most popular on Costa del Sol, thanks to its marvellous beaches and unique atmosphere of its streets.

There is a wide variety of shops and services nearby, such as restaurants, supermarkets (Mercadona, Lidl, Aldi and Supersol), hotels, medical centers (Maritime Hospital of Torremolinos), schools, institutes and several beach bars and beach clubs.

Shopping lovers will appreciate Plaza Mayor shopping center. While those who like sports can enjoy diverse golf clubs located in the municipality and in neighboring towns.

The development boasts its great transport communication thanks to its proximity to A-7 motorway. You will find Los Álamos bus stop located close to the project. Several bus lines pass here and travel to the center of Malaga and other municipalities adjacent to Torremolinos.

Project description

Alamar development consists of 123 two-, three- and four-bedroom apartments with the square ranging from 79.5 to 168.1 m2. The properties offer terraces, including sunbathing decks with views over the sea.

The distribution of space is as follows: the majority of bedrooms, a bathroom, open living room with kitchen and a terrace are located on the first floor; and, on the upper floor, there is a bedroom with bathroom en suite and sunbathing decks.

Open space kitchen which connects with dining room is fully furnished and equipped with electrical appliances: refrigerator, washing machine, dishwasher, microwave, oven and extractor hood. In addition, the houses have an installed air conditioning system, fitted wardrobes, stoneware flooring (or laminated flooring as an option), video intercom and white lacquered wooden doors.

The communal areas are characterized by a great landscape with swimming pools for adults and children.

The properties, with the prices starting at 589,000 euros plus VAT, will be ready for move-in in the first half of 2021. The price includes two parking spaces per property and a storage room.

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
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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
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