Located in the capital of the island of Mallorca, the picturesque village of Alaró has preserved its historical character and cultural heritage in all its splendor, with its medieval castle adorning the top of the mountain. Surrounded by the impressive Sierra de Tramuntana and with unbeatable access to hiking trails, Alaró is a geographical and architectural gem. Ancient olive presses, stone houses and narrow streets create a dreamy atmosphere that attracts those seeking a luxury lifestyle. Alaró is a quiet and charming place, with easy access to the island's capital, Palma, just 20 minutes away by car.
Exclusive Real Estate Market in Alaró
The current market for exclusive properties in Alaró is strong and stable. The demand for luxury houses and apartments often exceeds supply, which makes it an attractive investment place. The average real estate commission that a buyer pays when purchasing a house in Alaró is around 5%, while the commission a seller pays in the transaction is usually 3%.
Additional Costs When Buying a Luxury Home in Alaró
When purchasing a luxury home in Alaró, various additional costs need to be considered. The transfer tax, whose percentage varies depending on the property and its value, real estate agent commissions, notary fees, and potential construction inspection or legal costs can significantly increase the final cost of the house. On the other hand, the wealth tax on a house in Alaró is one of the lowest in the region.
Mortgage Conditions for Buying a House in Alaró
The mortgage requirements for buying a house in Alaró are generally favorable for buyers. There usually need to be proven minimum income and a down payment ranging between 20% and 50% of the purchase price. The maximum mortgage that can be obtained on the purchase price in Alaró is in the higher bracket of the region.
Location and Accessibility of Alaró
Alaró is strategically located in the center of Mallorca, facilitating access by both road and rail. It is a few kilometers from Palma, the nearest city, and from both national and international airports. Alaró is characterized by its proximity to the main schools and training institutions.
Luxury Life in Alaró
Alaró offers a variety of sports and outdoor activities options, such as hiking, cycling, and horse riding. Luxury shops are also a major attraction in Alaró, especially those offering decoration, fashion, and gastronomy items. The gastronomic and hotel offer is one of the most exclusive on the island, with high-quality restaurants and luxury hotels. Alaró also has several famous museums, galleries, and theaters in the field of art and culture.
Finally, the state of public infrastructure and the availability of services in Alaró is excellent, with all the necessary comfort for a luxury lifestyle.
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