Istan, a picturesque Andalusian village dating back to Roman times, nestles in the mountains of the Sierra Blanca. With a rich history unfolding at sites such as the Chorro Fountain and the Church of San Miguel, Istan proudly overlooks the Mediterranean Sea from its privileged enclave. Surrounded by wild nature, the geographical location of the village offers a luxurious lifestyle in the mountain range, just a few kilometers from cosmopolitan Marbella, in the province of Malaga.
Exclusive Property Market in Istan
With a strong and stable exclusive property market, Istan is a magnet for those seeking a luxurious life in a unique natural setting. The demand for luxury houses and apartments is matched by the available supply, offering a range of unique features that cater to the individual lifestyle of each buyer.
Political and Economic Stability
Istan enjoys a stable political and economic situation. This conducive atmosphere adds additional appeal to the purchase of luxury properties in the area, providing the necessary certainty for a smart investment.
Additional Costs When Buying a House in Istan
Additional costs to consider when buying a luxury property in Istan include the transfer tax, estate agent commissions, notary fees, and expenses related to building inspections. Estate agency commissions range from 1% to 3% for the buyer, while the seller can expect to pay between 3% and 5%.
Property Related Taxes
The transfer tax in Istan is 8% up to the first million euros, 9% for the price amount exceeding the million up to two million, and 10% for the price amount exceeding two million. The wealth tax ranges between 0.2% and 2.5% depending on the property value.
When selling a private property used as a main residence, no tax is paid on the proceeds, provided that the profit is reinvested in the purchase of another habitual dwelling, and that the owner is a tax resident in Spain and over 65 years old. For second homes, taxes must be paid on the gains, which vary according to the gain made and the seller's personal situation. Corporate tax in Istan is 25%, and income tax for residents depends on the income level, ranging between 19% and 47%.
Mortgage Requirements
The general mortgage requirements for buying a house in Istan include a debt-income ratio of 35%. It is possible to get up to 80% of the mortgage on the selling price of the property, but a good credit history is essential.
Luxury Residential Areas
The most prestigious areas for luxury properties in Istan include the Sierra Blanca area and the developments closest to Marbella such as La Zagaleta, Puerto Banús, and Golden Mile.
Istan is accessible by road (the A-7176 connects to Marbella) and is located about 15 km from Marbella. The closest airports are Malaga-Costa del Sol and Gibraltar. Some of the main nearby educational institutions include Alborán College and the University of Malaga.
With a population of around 1,500 inhabitants, Istan offers a luxury setting overlooking La Concepción reservoir, mountains, and hunting territory. The climate is mild, with hot summers and mild winters. It offers sports such as hiking, mountain biking, and hunting.
For luxury shopping, it has local craft and gourmet shops, in addition to the nearby Puerto Banús with designer boutiques. It boasts luxury restaurants and boutique hotels, like Los Jarales and Altos de Istan. Famous for its Chestnut Festival, it actively participates in the Andalusia Rally and hosts cultural events throughout the year.
In the area, we find museums like the Honey Museum, theaters, and art galleries in Marbella. The main nearby hospitals are Costa del Sol Hospital and Quirón Marbella Hospital. Public infrastructure in Istan is excellent and the availability of services is high, guaranteeing an exclusive lifestyle in all spheres.
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