Selva, a place rich in history, is known for its impressive architecture, located in the majestic province of the Island of Mallorca, in Spain. For centuries, the city has been a center of trade and culture. Its geographical location in the Tramuntana mountain range and its proximity to the Mediterranean Sea, make Selva a unique place, full of heritage and stunning landscapes.
Stability in the Exclusive Property Market of Selva
The current market for exclusive properties in Selva is, in fact, strong and stable, with a persistent demand that comparatively surpasses supply. This can be attributed to the attraction of the tranquil geographical location and the political and economic stability of the area.
Commissions and Additional Costs When Buying a Luxury Home in Selva
When buying a house in Selva, it is important to consider several costs. The average real estate commission paid by a buyer in Selva is approximately 5%. On the other hand, the seller pays around the same percentage in the form of commission. Apart from this, it is vital to take into account the transfer tax and possible building inspection or legal costs. The transfer tax on private property in Selva is currently 8%.
Property Taxes in Selva
It is important to be aware of the different taxes involved in owning a house in Selva. There is an annual wealth tax rate on private property of a house in Selva. Regarding the sale of private property, residents who sell their primary residence do not have to pay taxes on the gains. However, those who sell a second home or vacation property have to pay taxes on the gains. The corporate tax in Selva is 25%, while the income tax for registered residents varies depending on the level of income.
Mortgages and Loans in Selva
When it comes to general mortgage requirements to buy a house in Selva, the maximum mortgage amount that can be obtained depends on several factors, including income and the relation between domestic and foreign capital.
Residential Aspects and Accessibility of Selva
The most exclusive areas of Selva are famous for their stunning luxury villas and their proximity to quality facilities. Selva has excellent accessibility both by road and by rail. It is a short drive from the cosmopolitan city of Palma and close to Palma de Mallorca international airport.
Luxury Lifestyle in Selva
Living in Selva means enjoying a tranquil atmosphere, a mild climate, surrounded by panoramic views of mountains and sea. The range of outdoor and sports activities is broad, including hiking and cycling routes, golf, and water sports. In terms of shopping, Selva is home to luxury boutiques and designer shops. Residents and visitors can enjoy fine dining in its quality restaurants and spend an elegant evening at its exclusive bars and clubs.
Services and Infrastructure in Selva
Selva boasts a solid public infrastructure and availability of services, including hospitals, clinics, schools, and prestigious universities in its vicinity. The city is home to major sports and cultural events, as well as museums, galleries, and famous theatres that highlight its rich history and cultural life.
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