Located in the Eastern Algarve region of Portugal, Monte Rei | Tavira is a place steeped in history, boasting a rich legacy that dates back to pre-Roman times. This location, surrounded by strikingly beautiful nature offering unspoilt views over the Atlantic Ocean, is known for its well-preserved architecture and geographical diversity, ranging from rugged coastline to vibrant hills filled with almond, fig, orange, and carob trees.
The Luxury Property Market in Monte Rei | Tavira
Currently, the exclusive property market in Monte Rei | Tavira is quite stable and strong which is majorly attributed to its ideal location and luxury lifestyle. Increased demand for luxury homes complements the steady supply, underlining the strength of the property market. The political and economic situation in Monte Rei | Tavira is stable, aiding the competitiveness of the luxury real estate landscape.
Costs and Taxes Associated with Buying a House in Monte Rei | Tavira
When buying a house in Monte Rei | Tavira, the average real estate commission for both buyers and sellers typically ranges from 3% to 6%. Additional costs such as transfer tax, realtor commissions, notary fees, and potential construction inspection or legal costs should be taken into account. The transfer tax on private property in Monte Rei | Tavira is typically 6.5%. Private ownership of a house might be subjected to wealth tax under certain conditions. Taxes on profits vary on selling a main residence or a vacation home. Regarding corporate tax, it fluctuates around 21% for registered companies. Income tax for registered residents ranges from 14.5% to 48%, depending on the level of income.
Mortgage Requirements and Financial Aspects
Mortgage requirements to buy a house in Monte Rei | Tavira typically require a down payment of around 30% of the purchase price, with the mortgage covering the remaining cost.
Upscale Residential Areas and Accessibility
The most sought-after residential areas in Monte Rei | Tavira include Vila Nova de Cacela and Luz de Tavira, which are renowned for their luxury homes and breathtaking views. Monte Rei is easily accessible by road, with the A22 motorway offering seamless connections to Faro and Spain. The nearest big city is Faro, located around 50 km away. Both Faro and Sevilla airports are well connected for national and international connections.
Education, Population and Local Amenities
The vicinity of Monte Rei | Tavira is home to several respected institutions, including Tavira’s Secondary School and the University of the Algarve. Monte Rei | Tavira is a relatively small region with around 500 inhabitants. The environment is characterised by scenic landscapes, boasting of beautiful Mediterranean nature. The climate is typically warm and dry in summer and mild in winter. It offers a wide variety of sports and outdoor activities including golf, hiking, sailing, and bird watching.
Luxury Lifestyle, Culture and Healthcare
Monte Rei | Tavira houses numerous luxury lifestyle shops, high-quality hotels like the Monte Rei Golf & Country Club, well-known restaurants such as Vistas Restaurante, and offers an exclusive nightlife experience. World-class medical facilities are accessible with Tavira Hospital conveniently located nearby. Renowned events such as Feira de São Brás and SEA! See in Theater draw numerous visitors annually. Famous cultural spots include Tavira Castle and Museum, Municipal Museum of Tavira, and Galeria TREM.
All this enhances the overall condition of public infrastructure, making Monte Rei | Tavira not just a staggering location, but also a premium spot for luxury living.
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