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Ref: PHIP-353
Property marketed by JMT Spanish Properties
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Cozy bungalow in the popular resort of Ciudad Quesada on the southern Costa Blanca. The property is located on a 97m2 plot of land and, in addition to a tiled garden area, has a parking space with an adjacent garage that can also be used as a storage room. The property can be entered via a terrace area. Here is a glazed winter garden that can be used as additional living space. Below is the living / dining area with an open kitchen. The property also has 2 bedrooms and 2 bathrooms. Air conditioning is already installed. The terrace on the upper floor offers a wonderful view of the lagoons of Torrevieja.
Property Features
- 2 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.