Located on the sunny island of Menorca, Alaior is a gem in the crown of the Mediterranean, with a rich history dating back to Roman times. It has a unique appeal thanks to its architectural charm, with its historic village houses and majestic churches and monasteries. Strategically located on the east coast of the island, Alaior offers a wide range of views spanning from picturesque beaches to panoramic views of the nearby hills. Undoubtedly, Alaior is a place where history and geographical location combine to offer residents and visitors an unforgettable experience.
Exclusive Property Market in Alaior
The exclusive property market in Alaior is strong, with a constant demand underpinned by the supply of luxurious houses and apartments. The current political and economic situation in Alaior is stable, which brings confidence to potential buyers.
Costs and Commissions When Buying a House in Alaior
When acquiring a property in Alaior, the average real estate commission, which is 5% paid by both the buyer and the seller, must be taken into account. This is supplemented by possible additional costs like the transfer tax (which is 8% in Alaior), notary fees and possible construction inspection or legal fees.
Property-Related Taxes in Alaior
In terms of taxes, it is important to note that the wealth tax is 0.2% on the value of the property. If a property is sold, a tax is paid on the profits obtained, with the rate being 19% on the profit if the property is used as the main residence and 23% if it is used as a second home or holiday home. However, there is no corporate profit tax for companies registered in Alaior. The income tax for residents is a progressive percentage that varies depending on the income.
Details on Mortgage Loans in Alaior
To buy a property in Alaior, the general mortgage requirement is to have at least 20% of your own capital and proof of sufficient income to cover the mortgage payments. At most, a mortgage can be obtained that covers up to 80% of the purchase price.
Luxury Residential Areas in Alaior
The most coveted residential areas in Alaior are those surrounding the historic centre and those near the sea, where properties offer spectacular views and immediate access to beaches and services.
Accessibility and Proximities of Alaior
From Alaior, road and rail connections make it easy to reach the island's largest city, Mahón, which is just 12 kilometres away. The nearest international airport is Menorca Airport, 10 kilometres from Alaior. In terms of educational institutions, there are several schools and training institutions nearby.
Living in Alaior
Alaior, located in the province of the Balearic Islands, has an approximate population of 9,000 inhabitants. The environment is of unparalleled beauty, with natural landscapes that include blue seas and green hills. The climate is Mediterranean, with warm summers and mild winters.
Alaior offers a wide range of outdoor and sports activities, including hiking, cycling and water sports. There are also a number of high-end shops, and the city is renowned for its high quality in terms of hotels, restaurants and nightlife.
Culture and Services in Alaior
Alaior is host to annual cultural and sports events, including music festivals and traditional celebrations. The city houses various museums, galleries and theatres, reflecting its rich history and culture.
For health care, there are hospitals and clinics in the vicinity of Alaior. Regarding public infrastructure, the city is well served with high-quality water, electricity and telecommunications services.
In summary, Alaior offers a luxurious and peaceful lifestyle, with the added advantage of a strong and stable real estate market.
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