Located on the idyllic island of Mallorca, Badia Blava is rich in history and surrounded by natural beauty. Famous for its beautiful coastal views and traditional architecture, this city possesses an ancient charm and a diverse cultural heritage. The pristine setting is complemented by a strategic location, as Badia Blava is situated in the Balearic region, which is known for its exclusive real estate market and its attractive environment of exclusivity and luxury.
The Luxury Property Market in Badia Blava
Currently, the luxury real estate market in Badia Blava is considered strong and stable, with a supply that meets the high demand. However, it is always advisable to consider additional costs when buying a luxury home, such as the transfer tax, real estate agent commissions, notary fees, and possible legal inspection or construction costs.
Taxes and Real Estate Commissions in Badia Blava
In Badia Blava, the private property transfer tax is 8%, while the wealth tax for a property of a house can vary. Keep in mind that taxes on gains obtained from selling a privately owned house or apartment can differ depending on whether the property is used as a primary residence or as a second home. Additionally, when buying a home, a real estate commission will need to be paid, which is generally 5% to 10% of the sale price.
Mortgages and Financing in Badia Blava
When looking for financing to buy a home in Badia Blava, banks generally offer up to 80% of the property price in mortgages. The requirements may vary, but the applicant’s equity and debt ratio and income are often considered.
Location and Infrastructure in Badia Blava
Badia Blava is known for its luxury residential areas, with beautiful coastal properties that are highly sought after. The city is well connected by road and rail, with easy access to the nearest city, Palma de Mallorca, and nearby national and international airports. Badia Blava features a variety of prestigious schools, universities, and educational institutions.
Life and Style in Badia Blava
Badia Blava offers a wide range of outdoor activities and sports, from hiking to sailing. Its luxury shops, fine dining restaurants, vibrant nightlife, and elegant hotels are renowned on the island. We must not forget to mention the various historical, cultural, and sporting events that the city hosts annually. In addition, its hospitals and clinics ensure the well-being of residents and visitors, and public infrastructure and services are well-maintained and widely available.
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