Known for its rich history and iconic landmarks, Illetes is a radiant reflection of Spain's unsurpassable beauty. Located in the province of the Balearic Islands, this charming coastal town has been able to preserve its rich architectural and cultural heritage. The place is popular for its crystal-clear beach waters and stunning natural landscapes. It also boasts an excellent infrastructure, making it an ideal location for purchasing exclusive properties.
Real Estate Market in Illetes
The current market for exclusive properties in Illetes is undoubtedly remarkably strong. With a steady and stable demand that exceeds supply, it is a place inhabited by those seeking a luxurious and relaxed lifestyle. The political and economic situation is also stable, which contributes to the continuous expansion of the real estate market in Illetes.
Property Purchase Costs in Illetes
In addition to the property price, when buying a luxury house in Illetes, other costs such as the average real estate commission should be considered, which should be around 5% of the purchase price. Also, the transfer tax should be considered, which is approximately 8%, as well as notary fees, and possible building inspection or legal costs.
Taxes in Illetes
When owning private property in Illetes, a wealth tax applies which varies depending on the property value. In case of selling the property, a tax on the profits obtained must be paid. However, this tax can vary depending on whether the property is used as a main residence or second home. Finally, the corporate tax for companies registered in Illetes is 25%, and the income tax for registered residents can vary between 19% and 47%.
Mortgage Financing in Illetes
To obtain a mortgage in Illetes, it is generally required that the ratio between equity and financing does not exceed 80% of the property's purchase value. The applicant's income is a determining factor in the bank's final decision.
Luxury Locations in Illetes
The most expensive and desirable residential areas in Illetes invariably face the shining beaches and imposing natural landscapes. These areas are easily accessible by road and are at a convenient distance from the city of Palma de Mallorca.
Living in Illetes
In addition to natural beauty and pleasant weather, Illetes offers outdoor sports such as hiking, cycling, and golf. Illetes has a variety of luxury shops, a plentiful selection of high-quality restaurants, a lively nightlife, as well as exclusive hotels and casinos. Renowned educational institutions, hospitals, and clinics are conveniently located within walking distance of Illetes. Also, Illetes takes pride in its varied cultural offerings, with museums, galleries, and famous theaters in its surroundings.
English 
Dutch 
German 
Spanish 
French 
Chinese 
Russian