Manacor is a hidden gem, located in the heart of the island of Mallorca, full of history and Mediterranean charm. Home to numerous historical sites such as the Baroque church of Nostra Senyora dels Dolors, the Caves of Drach, and the 14th-century defense towers, its cultural richness is unmatched. Manacor is the second-largest city in Mallorca and enjoys a privileged geographical location, bordering the Mediterranean Sea and close to the Sierra de Tramuntana, a UNESCO World Heritage Site.
The Real Estate Market in Manacor
The market for exclusive properties in Manacor is on the rise, given the growing demand for luxury houses and apartments. The supply remains solid, despite the growing interest in the area. The political and economic situation in Manacor is stable, generating security for real estate investors.
Real Estate Acquisition Costs in Manacor
When purchasing a luxury home in Manacor, both the buyer and the seller should consider an average of 3% in real estate commissions. Additional costs include the transfer tax, notary fees, and potential building inspection or legal costs. In Manacor, the transfer tax on private property ranges around 8-10%.
Property and Profit Taxes in Manacor
The wealth tax for properties in Manacor amounts to 2.5%. As for profit taxes, these do not apply to homes used as the main residence, but they do apply to second homes, reaching up to 23% in some cases. The corporate tax rate for companies registered in Manacor is 25%.
Exclusive Residential Areas and Accessibility of Manacor
The most exclusive areas of Manacor include Porto Cristo and Cales de Mallorca. Manacor is well-connected, through both roads and railways, with Palma de Mallorca, the largest city on the island located 50 kilometers away. The Palma de Mallorca airport is also a short drive away.
Life and Opportunities in Manacor
Manacor offers high-quality education options, featuring the recognized international school, The Academy. The city is also surrounded by stunning natural beauty, with white sand beaches and pine-covered mountains. The Mediterranean climate allows for enjoying outdoor sports all year round. City life includes luxury shops, high-quality hotels and restaurants, and elegant nightlife and entertainment in the Port of Manacor and in Palma de Mallorca.
Culture and Services of Manacor
Manacor is famous for its tradition in pearl manufacturing and for being the hometown of tennis player Rafael Nadal. The city boasts the famous Manacor History Museum, several theaters, and art galleries. Prestigious hospitals and clinics are available to all residents. Public facilities and services in Manacor are of high quality, providing a comfortable and luxurious lifestyle for its inhabitants.
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