Cabo de Palos, a gem located in the region of Murcia, Spain, is known for being the geographical point that marks the beginning of the Mar Menor. This place has had a rich history since Roman times, and is known for its famous modernist-style lighthouse and its marina. Located in the eastern part of the Region of Murcia, this town has a unique geographical location with exceptional proximity to the Mediterranean Sea.
Real Estate Market in Cabo de Palos
In recent years, the market for exclusive properties in Cabo de Palos has shown to be strong and stable. The demand for luxurious houses and apartments has been continuously evolving, following the rhythm of the offer, which mainly consists of properties with sea views or in the hills.
Financial Considerations
The average real estate agent commission in Cabo de Palos tends to be around 5% for both the buyer and the seller. When buying an exclusive property, one should take into account additional costs, such as the transfer tax, which is approximately 10%, notary fees, and possible building inspection costs. Here, a wealth tax is also paid on private property, the amount varies depending on the value of the property. Earnings obtained from the sale of a private property are subject to taxes, for both primary residences and second homes.
Mortgage Credit and Preferred Locations
In general, banks in Cabo de Palos are willing to lend up to 80% of the purchase price for a mortgage, depending on the credit history and income of the applicant. The most sought-after residential areas for luxury homes are usually those that have sea views and easy access to city amenities.
Accessibility and Proximities
Cabo de Palos is accessible via the AP-7 highway and has a train station in Los Nietos, about a 10-minute drive away. It is located about 37 kilometers from Cartagena, the nearest city, and the closest airport is the Region of Murcia International Airport.
Education and Province
Its proximity to La Manga Club includes several high-quality schools and universities. Although Cabo de Palos is located in the region of Murcia, it is more precisely part of the municipality of Cartagena, and has a population of around 1,000 inhabitants.
Attractions of Cabo de Palos
With its beautiful natural surroundings, complete with clear water, life here offers many outdoor activities, such as diving, hiking, and sailing. The town also offers a variety of luxury shops, elegant restaurants, and exclusive nightclubs. Additionally, the destination is famous for the Mercadillo de Cabo de Palos, an outdoor market held every Sunday.
Services and health
The town and its surroundings host some of the best hospitals in the region of Murcia, and public infrastructure is extensive and continuously improving. The availability of services is high, with numerous shops, restaurants, and local businesses offering everything necessary for a luxury lifestyle.
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