Calas de Mallorca is a historic jewel on the beautiful and captivating island of Mallorca. Its rich history, splendidly displayed in archaeological sites and mystical monuments, speaks of past traditions and cultures. Located on the east coast of the island, this resort offers privileged access to the Mediterranean Sea and the charm of modern life with a touch of old Spain. Its proximity to the capital, Palma, has also influenced its development, particularly in regard to luxury properties.
The Real Estate Market in Calas De Mallorca
The current real estate market in Calas De Mallorca is exceptionally strong, with steady demand and a stable supply of luxury properties. Despite economic fluctuations, the political and economic situation in Calas de Mallorca remains steady, which has maintained an attractive environment for potential buyers.
Additional Costs in Purchasing a Property
When buying a luxury house or apartment in Calas De Mallorca, certain additional costs must be taken into account, such as the average real estate commission paid by both the buyer and seller, transfer taxes, notary fees, and potential inspection or legal costs. The transfer tax on private property in Calas De Mallorca is currently 8%.
Taxes and Mortgage Requirements
Regarding taxes, second-home owners in Calas De Mallorca have a tax burden on gains made when selling the property. For companies registered in Calas De Mallorca, the corporate profit tax is currently 25%. The typical loan-to-value (LTV) ratio for a mortgage in Calas De Mallorca is 60-70%.
Living in Calas De Mallorca
The most expensive residential areas of Calas De Mallorca are located in the coastal region, where properties offer stunning sea views. In terms of accessibility, Calas De Mallorca is a stone's throw away from the nearest town, Manacor, and is approximately one hour from Palma de Mallorca, the capital.
The environment of Calas De Mallorca is remarkable, comprised of beautiful landscapes, crystal clear waters, and pleasant weather all year round. Outdoor enthusiasts will find a variety of sports and activities available, which include hiking, cycling, golf, and sailing, to name a few.
Services and Culture in Calas De Mallorca
Calas De Mallorca also has a lot to offer in terms of culture and quality of life. Residents can enjoy elegant luxury boutiques, Michelin-starred restaurants, and a lively nightlife. Historical, cultural, and sporting events, like the Mallorca Jazz Festival, attract visitors from around the world. The region also boasts excellent services, including high-quality hospitals and robust public infrastructure.
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