Located on the prestigious island of Mallorca, Santa Ponça is a luxury location with a rich history. This picturesque coastal town hosts the site where King James I of Aragon landed in 1229 on his way to retake the Balearic Islands from Moorish occupation. Its beautiful beaches and mountain landscapes attract luxury home buyers from all over the world.
Current real estate market and economic factors in Santa Ponça
The high-end real estate market in Santa Ponça is strong and stable, remaining resilient despite economic fluctuations. Although demand for luxury properties often exceeds supply, investment continues in the development of high-standard housing. The political and economic environment of the area remains robust, supporting the growth of the luxury real estate market.
Costs associated with buying a property in Santa Ponça
The purchase of a luxury property in Santa Ponça involves several additional costs, including a transfer tax of 8-10% of the sale price, real estate agent commissions that hover around 5%, notary fees and possible costs of building inspections or legal fees. The wealth tax in Santa Ponça varies depending on the property, and taxes on capital gains from the sale of a property used as a primary residence or holiday home may also apply. In Santa Ponça, corporation tax is 25% and income tax for registered residents varies according to income.
Mortgage requirements and availability in Santa Ponça
In general, Spanish banks offer up to 70% of the purchase price to foreigners for mortgages, and this amount can increase for residents. Demonstrable income is crucial for securing a mortgage.
Location, access and facilities of Santa Ponça
Santa Ponça is located on the southwest coast of Mallorca, in the region of Calviá. It is just 25 minutes away from Palma, the closest city. The nearest airport, Palma de Mallorca International Airport, is approximately a 30-minute drive away. With its proximity to highways and an efficient public transport network, Santa Ponça enjoys excellent transport connections. Prestigious international schools, universities and training centers are located nearby.
Amenities and lifestyle in Santa Ponça
Santa Ponça is a hub of recreational and sporting activities, with facilities for golf, yachting and much more. In addition, luxury shopping options, top-rated restaurants and exclusive hotels abound in the area. On a cultural level, several local events and festivals are celebrated each year, in addition to various museums and galleries. For health concerns, residents have access to private clinics and high-quality hospitals in the vicinity.
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