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Ref: TTH410
Property marketed by Competa Properties S.L.
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Situated in the old town of Torrox, this property is in a quiet street, just minutes from the town center and the shops and bars.
The ruin has great potential to be renovated to suit the new owner with the possibility of becoming a two story house with a roof terrace.
Because of its location this property after being refurbished can be converted into a cozy place to live all year with nice views or holiday home.
The ruin has great potential to be renovated to suit the new owner with the possibility of becoming a two story house with a roof terrace.
Because of its location this property after being refurbished can be converted into a cozy place to live all year with nice views or holiday home.
Property Features
- 0 bedrooms
- 0 bathrooms
- 70m² Build size
- 70m² Plot size
Costing Breakdown
Standard form of payment
Reservation deposit
3,000€
Remainder of deposit to 10%
2,000€
Final Payment of 90% on completion
45,000€
Property Purchase Expenses
Property price
50,000€
Transfer tax 10%
5,000€
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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Spanish Property News & Updates by Spain Property Portal.com
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.