Located in the kingdom of Jordan, Petra is an ancient city, known worldwide as the Treasure of the Desert. Connected with the rich history of Middle East trade, Petra is a place of archaeological significance and heritage that enriches its inhabitants and attracts visitors from all over the world. This city, once a vital trading center, is located in a valley surrounded by dazzling sandstone cliffs. Its strategic geographical location, archaeological treasures, and ancient history make Petra an exceptional place to live, especially in a luxury home.
Exclusive Property Market in Petra
The current market for exclusive properties in Petra can be described as stable. The demand and supply of luxury homes and apartments are in balance, with a trend towards growing demand due to the city's increasing international attraction. The political and economic situation in Petra and Jordan in general, is stable, which bodes well for the ongoing growth of the real estate market and investment.
Costs and Commissions in Real Estate Purchase
When buying a luxury house or apartment in Petra, there are several additional costs to keep in mind. This includes transfer tax, real estate agent commissions, notary fees, and possible construction inspection or legal costs. The average real estate commission paid by a buyer is usually between 2% and 4%, while the one paid by a seller is around 3%, but this can vary depending on the value of the property and other factors.
Taxation and Taxes
When it comes to taxes, Petra has a reasonably fair tax system. Generally, the transfer tax on private property is 8%, although this can vary depending on the nature of the property and other factors. The wealth tax on private property ownership of a house in Petra would not apply, as Jordan does not have a wealth tax. However, both the profits made when selling a privately-owned house or apartment that is used as a main residence, and those gained by the sale of a vacation home, may be subject to a capital gains tax, depending on circumstances.
Luxury Life and Locations in Petra
Petra is known for its stunning residential areas, with a vibrant mix of traditional and modern homes. The most sought-after areas for living the luxury lifestyle in Petra include the districts along Wadi Musa, which are close to the historic center, high-quality shops, and restaurants. In Petra, you can enjoy a wide variety of sports and outdoor activities such as hiking, climbing, and cycling, in the stunning mountains and deserts that surround the city. The city also offers a number of luxury shops, as well as a range of high-quality restaurants and nightlife.
Convenience and Services in Petra
Petra is a short drive from the capital, Amman, and is close to Queen Alia International Airport. Regarding education, Petra is near a range of high-quality schools, both national and international, as well as some universities and training institutions. In Petra, you will have access to a variety of fully equipped hospitals and clinics. In terms of public infrastructure and availability of services, Petra is constantly developing and improving.
Culture and Events in Petra
In addition to its rich history and stunning natural beauty, Petra is also known for its vibrant cultural scene. It hosts several renowned annual events, such as the Petra Festival, which celebrates the rich culture and history of Jordan. There are several museums and galleries in Petra and its surroundings, including the Petra Museum and several others. In Petra, there will always be something to keep you interested and entertained.
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