**Sol de Mallorca** is an exclusive coastal enclave located on the southwest coast of the island of Mallorca, in the province of Baleares, Spain. Historically, this area has been known for its natural beauty and prestigious residential environment. With a rich history reflected in its surroundings, the area is famous for its Mediterranean landscapes composed of hidden coves and extensive pine forests. Sol de Mallorca is within a short distance from important cultural landmarks and historical areas that enhance its exclusive appeal.
Market for Exclusive Properties
The market for exclusive properties in Sol de Mallorca is currently strong, with demand significantly exceeding the supply of luxury homes and apartments. This makes acquiring property here a valuable decision for those looking to invest in luxury real estate. The political and economic situation of the region is stable, adding an extra level of confidence for potential buyers and investors.
Costs and Commissions when Buying
When buying a luxury home in Sol de Mallorca, buyers can expect to pay an average commission of between 1.5% and 3% of the purchase price. Sellers, on the other hand, typically pay commissions of between 5% and 6%. It is important to consider additional costs such as the transfer tax, which is usually 10% of the property's value, as well as notary fees, potential legal costs, and building inspections.
Taxes and Fiscal Obligations
Wealth tax and capital gains tax on property sales, especially if it is a second residence, should be carefully evaluated with specialized tax advice due to potential changes in laws. Gains from the sale of a principal residence may be exempt under certain conditions, but second residences are subject to capital gains taxes.
Mortgage Requirements
To obtain a mortgage, buyers can generally finance up to 70% of the property's value, requiring significant equity. The ratio of domestic to foreign capital is critical, as is meeting certain income requirements.
Location and Accessibility
Sol de Mallorca has excellent road access to the city of Palma de Mallorca, located about 15 kilometers away, while Palma de Mallorca Airport is approximately 25 minutes away by car. Although Sol de Mallorca is not directly connected to a railway network, the rest of the island is easily accessible by car.
Education and Health
In the vicinity, renowned educational institutions such as the International Caribbean School and the University of the Balearic Islands offer quality educational options. Regarding health care, there are top-level health services nearby, including the Son Espases University Hospital.
Environment and Lifestyle
The natural environment in Sol de Mallorca is unparalleled, with a Mediterranean climate offering warm summers and mild winters, ideal for outdoor activities such as golf, sailing, and hiking. The area is famous for its exclusive luxury shops and high-quality restaurants, providing a sophisticated lifestyle. Notable establishments include the Two Michelin Star restaurant and events such as the annual Copa del Rey sailing regattas, which attract an international clientele.
Culture and Infrastructure
Regarding cultural offerings, nearby Santa Ponsa and the town of Calvià offer museums and theaters that enrich the cultural life of residents and visitors. The public infrastructure is well-developed, ensuring quality services and a high standard of living for those who choose Sol de Mallorca as their home.
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