Alicante, a city with a rich history, hosts an abundance of historical places such as the Santa Bárbara Castle and the Santa María Basilica. Strategically located on the Costa Blanca, it represents a perfect balance between the charm of the old world and modernity. This attractive location, nestled among mountains and the Mediterranean Sea, has seen the passage of Iberians, Romans, and Moors, leaving their imprint on the local culture.
Luxury Property Market in Alicante
The exclusive property market in Alicante currently stands out for its strength and stability, with an increasing demand for luxury homes and apartments that competes with the existing supply. The political and economic stability of Alicante further enhances the attractiveness of the city as a destination for luxury housing.
Costs Associated with Buying a Property in Alicante
When purchasing a luxury property in Alicante, it is essential to take into account additional costs such as the Transfer Tax (ITP), which is 10% of the property's value, real estate agents' commissions, notaries' fees, and possible building inspection or legal costs. The average commission that a buyer pays in Alicante is around 3-5%.
Taxes Related to Private Property in Alicante
The wealth tax on a private property in Alicante can reach up to 2.5% for high-value properties. In the case of selling your main residence, you would not have to pay taxes on the profit obtained. However, if it's a second home, the sale may be subject to capital gains tax.
Information about Mortgages in Alicante
In Alicante, you can get up to 60-70% of the property's purchase price as a mortgage, depending on each bank's criteria and your income. Banks generally require that the total cost of the mortgage loan, including interest, does not exceed a third of the applicant's net income.
Luxury Residential Areas in Alicante
Some of the most expensive and sought-after residential areas of Alicante include Albufereta and Playa de San Juan, where you can find luxury properties close to the sea.
Connectivity and Accessibility of Alicante
Alicante is well connected by road and rail to other major cities in Spain. Alicante is about 420 km from Madrid, the closest big city. Moreover, Alicante boasts both domestic and international airports, located about 20 minutes from the city center.
Schools and Institutions in Alicante
Alicante offers excellent possibilities in terms of education, with a variety of high-quality schools, universities, and training institutions.
Luxury Lifestyle in Alicante
Rich in nature and perfect Mediterranean weather, Alicante offers outdoor sports and activities such as golf, boating, and hiking. It hosts luxury shops, high-class hotels, renowned chef restaurants, elegant and exclusive nightlife, and casinos. Regarding art and culture, Alicante takes pride in its family and cultural events, its museums, galleries, and theaters.
The public infrastructure in Alicante is exceptional, with excellent services and a large number of hospitals and clinics. Undoubtedly, buying a luxury property in Alicante will grant you access to a life of exclusivity, luxury, and quality.
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