Why Use Prestige Properties Mallorca To Sell Your Property?
Would you like to sell your property on Mallorca? Prestige Properties Mallorca is the leading site for selling Luxury Property on Mallorca. We can help you find the right buyer for your property in Majorca.
Why Use ‘Prestige Properties Mallorca' To Sell Your Property?
As is the requirement with all real estate sales, you can expect a professional, confidential and speedy service from our team. All you have to do us give us your full property and contact details. We will advertise your property online on our website and across our network of property portals that give you instant worldwide exposure! Just what you need to find that perfect buyer.
Visitors from all over the world visit our site everyday looking for luxury property to buy. You can rest assured you will find the best buyer with us.
Prestige Properties Mallorca is a family run, leading online real estate company. With an impressive market reach with the major search engines including Google, Bing, Lycos, MSN and Yahoo, our site attracts a relevant audience looking for specific ‘high-end' Luxury Properties in Mallorca.
If you want to sell your property in Mallorca quickly and get a great price too, then you need to find clients from all over the world. Our top class website helps you find high quality buyers free.
List your property for sale in Mallorca with us and we will find you an appropriate buyer fast and hassle free.
We currently are listed on the following property portals with a potential monthly exposure to 100,000 people across the world.
Selling Property in Mallorca -
A non-resident seller of Mallorca property is subject to 3% tax retention as capital gains tax where applicable. The seller can also apply for a reduction with the tax office if he or she feels this tax is not right, given the value of property. If the application succeeds, the capital gain tax amounts to a maximum of 18% of the total sales value and there is a discharge of the 3% tax. If the seller possessed the property for at least 10 years and runs a single resident company, the 3% retention tax does not apply.
Our Professional Advice
Since the laws and regulations keep changing, we recommend using the services of a qualified financial advisor or lawyer. We connect our clients with reliable professionals experienced in the real estate for sellers and buyers. Contact us any time and we will show you trustworthy professionals to help you.
Annual Property Taxes
Predetermined by the town hall, this amounts to a maximum of 0.85% of the Valor Catastral (Cadastral value).
Property Income Taxes
This only applies to owners of urban property. The income tax office determines the amount payable throughout the year. The maximum rate is 25% under a payable base. The base is the estimated income determined by multiplying 2% of the cadastral value of the property. In some circumstances, this value is 1.1%.
If the cadastral value update occurred after 1 January 1994, there was no previous information of the cadastral value before this and the property owner did not know about this, the value becomes 50% of the purchase price listed in the relevant title deed. The local tax office can claim this value.
Property Capital Tax
Non-residents pay wealth taxes depending on the value of their property. The rates varies form 0.2-2.5% and the highest amount for the cadastral value, deed purchase price and projected value by the tax office becomes the base.
Non-Resident Property Company Owners
The rule requires these to pay special taxes and the rate is 3% of the cadastral value. Where the cadastral value of the property is not applicable, the wealth tax determined by law applies.
Other Costs and Taxes
Refuse Collection Tax
The refuse collection tax applies and is payable at the local tax office.
Property owners pay community fees for maintenance and services provided by the municipality. This applies where the property is in a condominium or development field.
Get in touch with us at sales at prestigepropertiesmallorca.com and we will contact you ASAP