Located in the jewel of southern Spain, the Costa del Sol, Sotogrande is a luxury you can't miss. This beautiful residential development extends from the coastal range to the Mediterranean, offering unparalleled panoramic views. Sotogrande, known for its Andalusian architecture and Moorish influences, was established in 1960 by Philippines magnate Enrique Kastner. Moreover, it is worth mentioning that Sotogrande has numerous historical sites of interest, such as the Castle of San Roque.
Real Estate Situation in Sotogrande
The exclusive properties market in Sotogrande currently enjoys a healthy and stable state. The demand for luxury homes and apartments balances well with the supply, ensuring a dynamic and fluid market for buyers and sellers.
Costs Associated with Purchasing Property in Sotogrande
The average real estate commission for both buyers and sellers in Sotogrande varies, however, it generally ranges between 1% and 5%. Apart from the commission, buyers should also consider additional costs such as transfer taxes, notary fees, and possible inspection or legal costs. The transfer tax is 10% in Sotogrande. A wealth tax also applies to luxury properties with a tiered rate from 0.2% up to 2.5%. Capital gains taxes on the sale of homes also apply and the rate depends on the seller's residence status.
Mortgages and Financing
The maximum amount that can be obtained from a mortgage to buy a property in Sotogrande depends largely on the value of the property and the financial status of the applicant. The ratio between foreign and national capital is not a determining factor for acquiring a mortgage in Sotogrande.
Location and Accessibility to Sotogrande
Sotogrande is located in the province of Cadiz, at the eastern end of the Costa del Sol. It is just a 20-minute drive from Gibraltar and an hour from the vibrant city of Malaga, with easy road and railroad access. The nearest airports to Sotogrande are Malaga Airport and Gibraltar Airport.
Life in Sotogrande
Sotogrande is a thriving and vibrant community with a population of approximately 2,500 people. With majestic mountains, beautiful sandy beaches and a spectacular marina, the environment is truly impressive. Its mild and sunny climate is perfect for a variety of outdoor activities, including golf, tennis, and polo.
In terms of luxury shopping, Sotogrande offers a variety of boutiques and designer shops. There is a variety of high-quality restaurants, bars, and evening entertainment venues. In terms of events, Sotogrande is famous for its annual golf and polo tournament.
In Sotogrande, you're never far from culture, with several museums and art galleries in the area. As for health, the Hospital de la Linea and Hospiten are easily accessible. The public infrastructure and services available in Sotogrande are first-class, standing out for their excellent quality.
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