Galatzó, known for its rich history and beautiful landscapes, is located in an idyllic geographical setting. This corner of Spain boasts a rich cultural heritage, which is reflected in its many historical places. Among its most significant attractions include the Galatzó estate and the old manor house, symbols of luxury and opulence of times past. Located on the picturesque island of Mallorca, Galatzó invites you to enjoy the stunning views of the Mediterranean.
Real Estate Market in Galatzó
The luxury property real estate market in Galatzó is currently stable, and the demand for these properties harmoniously matches the supply. In addition, the political and economic situation in the region is stable, which has encouraged the growth of the real estate market.
Costs to Buy a Property
When buying a luxury home in Galatzó, in addition to the purchase price, you will need to consider certain additional costs. These may include property transfer tax, real estate agent fees, notary fees and possible building inspection costs. The transfer tax on private property in Galatzó is 10%, and the average real estate commission for the buyer and seller is 5% each.
Taxes and Financial Regulations
In terms of taxes, the wealth tax on the private property of a house is 2.5% in Galatzó. Residents who sell their primary residences are not required to pay taxes on the sale's profits, while vacation properties are subject to a 19% gain tax. The corporate tax in Galatzó is 25%, while the income tax varies between 19% and 47%.
Mortgage and Financing Information
When buying a house in Galatzó, you can generally obtain a mortgage of up to 80% of the purchase price. For foreigners, the proportion of own capital required is usually higher and depends on their individual income and financial conditions.
Living in Galatzó
Galatzó is accessible by road and has several luxury residential areas such as Calvià and Andratx. The nearest city to Galatzó is Palma, located about 30 minutes by car. The nearest airports are Palma de Mallorca Airport and Barcelona Airport.
Galatzó offers a variety of educational options, including some of the best schools and universities in the region. In addition, it is surrounded by impressive nature and coastal landscapes, making it an ideal place for outdoor sports and recreational activities.
People and Culture
With a population of approximately 2,500 inhabitants, Galatzó is situated in the province of the Balearic Islands. The climate in Galatzó is mild and pleasant all year round and its natural beauty, including the crystal clear waters of the Mediterranean and the mountainous landscape, is simply astonishing.
Amenities and Services
Galatzó also has a large number of luxury shops, high-quality hotels, gourmet restaurants and exclusive nightlife. Among the most outstanding annual events are cultural and sporting festivities. In addition, Galatzó hosts several renowned museums, galleries and theaters.
Finally, several top-quality hospitals and clinics are located in the vicinity of the Galatzó region. In terms of public infrastructure and availability of services, Galatzó is in an excellent state.
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