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Ref: PHIP-456
Property marketed by JMT Spanish Properties
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SPACIOUS 3 BEDROOM QUAD LOCATED ON MONTEBELLO, ALGORFA, ALICANTE. The property consists of a large glazed in porch leading into a lounge with separate dining area and kitchen off. There is a covered utility at the rear of the property. The ground floor also has a double bedroom with bathroom next door. Stairs lead up to a landing with 2 further double bedrooms and second bathroom. There is also access from the landing to a good sized terrace with views over the surrounding countryside. The property has air con throughout and the outside plot has a number of paved patio areas including a driveway for parking. Build size: 95m2 Plot size: 140m2 SUMA: €300 Community fee: €300
Property Features
- 3 bedrooms
- 2 bathrooms
- Swimming Pool
Costing Breakdown
Standard form of payment
Reservation deposit
3,000€
Remainder of deposit to 10%
8,000€
Final Payment of 90% on completion
99,000€
Property Purchase Expenses
Property price
110,000€
Transfer tax 8%
8,800€
Notary fees (approx)
600€
Land registry fees (approx)
600€
Legal fees (approx)
1,500€
* Transfer tax is based on the sale value or the cadastral value whichever is the highest.
** The information above is displayed as a guide only.
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In Spain, two primary taxes are associated with property purchases: IVA (Value Added Tax) and ITP (Property Transfer Tax). IVA, typically applicable to new constructions, stands at 10% of the property's value. On the other hand, ITP, levied on resale properties, varies between regions but generally ranges from 6% to 10%.
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In Spain, mortgages, known as "hipotecas," are common, and the market has seen significant growth and evolution.