Cala Fornells, a hidden treasure on the island of Mallorca, offers a rich blend of history and natural beauty. The place, an old fishing area, is home to the beautiful fortified church of Sa Font Fresca from the 13th century. Located on the southwest coast of the island, Cala Fornells boasts impressive cliffs overlooking the idyllic Mediterranean. This beautiful enclave stands out for its varied culture, a result of its many historical influences such as Roman, Arab, and Spanish.
Property Market in Cala Fornells
The exclusive property market in Cala Fornells is currently strong, with significant demand for luxury houses and apartments far exceeding supply. Thanks to the political and economic stability of the region, investing in property remains a safe business.
Both a buyer and a seller typically pay an average real estate commission ranging around 3% to 6%. In addition, there are extra costs to consider, such as transfer tax, notary fees, and possible building inspection costs or legal expenses.
Taxation in Cala Fornells
The transfer tax in Cala Fornells is 8%, while the wealth tax varies depending on the property value. When selling a house, island residents may face capital gains taxes, although this can vary depending on whether the property is their main home or a second residence. For companies registered in Cala Fornells, the corporate income tax is 25% and the income tax for registered residents is between 19-47%.
About Mortgages in Cala Fornells
The general mortgage requirements to buy a house in Cala Fornells align with what is common in Spain. Up to 80% financing is allowed for residents and 60-70% for non-residents, with demonstrable income.
Lifestyle in Cala Fornells
The most famous residential areas in Cala Fornells include luxurious, beachfront villas and modern apartments in the village center. Cala Fornells is perfectly connected by road with the nearest town, Palma de Mallorca, just 20 km away.
The locality has a variety of local schools and institutes, in addition to proximity to the University of the Balearic Islands. As for health services, there are several nearby hospitals and clinics.
Cala Fornells boasts a great range of outdoor sports, like hiking, diving, and sailing. Its luxury shops and high-quality restaurants offer a sophisticated lifestyle. Among the annual events, the Cala Fornells Music Festival stands out.
Due to its Mediterranean climate, combined with the natural beauty of beaches and mountains, Cala Fornells is more than a place to live, it's a lifestyle. Are you ready to discover it?
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