Ferreries is an authentic coastal paradise, a gem located in the province of the Balearic Islands, Spain. Packed with rich history, this municipality boasts impressive historic sites such as the Castle of Santa Àgueda. Its geographical location on the island of Menorca offers panoramic views of the Mediterranean Sea, creating an atmosphere of pure serenity and exclusivity.
Real Estate Market in Ferreries
The real estate market in Ferreries is currently stable and solid where the demand for luxury houses and apartments is equally balanced with the existing supply. The political and economic environment of Ferreries is conducive and safe, allowing investors to make significant real estate investments without any issues.
Costs and Associated Tax Rates
The average real estate commission remains competitive, both for buyers and sellers in Ferreries. When buying a luxury home in this pristine place, one must consider additional costs such as transfer tax, notary fees, building inspection costs, and possible legal costs. The transfer tax on private property hovers around 10%. The wealth tax for private properties in Ferreries varies, depending on each owner's individual circumstances. Capital gains taxes when selling a property should be considered, especially for properties that are used as a second home/vacation home.
Financing Options for Properties
Financial entities in Ferreries provide various financing options with advantageous conditions to facilitate the purchase of a luxury property. In general, you can get a mortgage of up to 80% of the purchase value.
Living the Luxury Life in Ferreries
The most prestigious and sought-after residential areas for luxury homes are in the center of Ferreries and in the areas close to the beaches. Ferreries is easily accessible by road and the nearest city, Ciutadella, is only a 30-minute drive away. The nearest airports are the Menorca Airport and the Palma de Mallorca International Airport.
In the vicinity of Ferreries, there are a range of high-quality educational institutions. The city is always bustling with a variety of sports and outdoor activities, from hiking to water sports at nearby beaches. With its assortment of luxury shops, high-end restaurants, and cultural and sports events, Ferreries guarantees a life of style and quality.
Services and Amenities in Ferreries
With a population of around 5,000 inhabitants, Ferreries is a place where you can enjoy natural beauty at its best. The Mediterranean Sea, the northern mountain range, and the green countryside provide a spectacular environment.
In terms of infrastructure and services, Ferreries is well-equipped. The city has modern hospitals and clinics in its vicinity. Additionally, it experiences a pleasant Mediterranean climate that is ideal for leading a comfortable life.
No matter what you are looking for in a luxury home, Ferreries has something that will suit your desires and needs.
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