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Is property selling in Javea?
Posted: Tue Jun 14, 2022 8:39am
What is the current state of the market re flats in Javea Port? Are they selling - are people buying? Would one be an investment to buy now? Thoughts?
Dwellings always sell... at the right price.
I would never recommend that anyone buy a dwelling in Spain as a form of investment.
I agree.
Purchase tax is 10% here and with legal fees you will be looking at 13-14%.
Once bought you will be paying Non-Resident tax, IBI (Council Tax), Community fees, standing charges for electric and water, insurance and maybe a key holder.
It is quite possible that all these running costs will exceed any amount the property increases in value and of course you would pay relatively high estate agent charges and Capital Gains Tax on any increase when you sell.
You can't just pop an advert out if you want to recoup expenses by renting it out as you will need a Tourist Licence and will pay tax on all rental income at 24% (no allowances).
Buy property in Spain because you want a holiday home but very rarely could it be considered an investment.
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Posted: Tue Jun 14, 2022 12:34pm
Legendary helpful member
Claire126 wrote on Tue Jun 14, 2022 8:39am:
What is the current state of the market re flats in Javea Port? Are they selling - are people buying? Would one be an investment to buy now? Thoughts?
Good advice given by the posters above.
Javea port is very sought after. Prices have risen there considerably in the last 18 months. Properties are selling. All things considered it is a good location to buy at but you will of course pay a premium for the location.
Steve
Posted: Tue Jun 14, 2022 3:05pm
Cheryl wrote on Tue Jun 14, 2022 11:32am:
I agree.
Purchase tax is 10% here and with legal fees you will be looking at 13-14%.
Once bought you will be paying Non-Resident tax, IBI (Council Tax), Community fees, standing charges for electric and water, insurance and maybe a key holder.It is quite possible that all these running costs will exceed any amount the property increases in value and of course you would pay relatively high estate agent charges and Capital Gains Tax on any increase when you sell.
You can't just pop an advert out if you want to recoup expenses by ...Read more...
...renting it out as you will need a Tourist Licence and will pay tax on all rental income at 24% (no allowances).
Buy property in Spain because you want a holiday home but very rarely could it be considered an investment.
Thank you very much for this advice. Hugely helpful.
Posted: Sun Sep 4, 2022 12:11pm
Cheryl wrote on Tue Jun 14, 2022 11:32am:
I agree.
Purchase tax is 10% here and with legal fees you will be looking at 13-14%.
Once bought you will be paying Non-Resident tax, IBI (Council Tax), Community fees, standing charges for electric and water, insurance and maybe a key holder.It is quite possible that all these running costs will exceed any amount the property increases in value and of course you would pay relatively high estate agent charges and Capital Gains Tax on any increase when you sell.
You can't just pop an advert out if you want to recoup expenses by ...Read more...
...renting it out as you will need a Tourist Licence and will pay tax on all rental income at 24% (no allowances).
Buy property in Spain because you want a holiday home but very rarely could it be considered an investment.
Our story is the complete opposite. Value increased on our villa and good rental income.
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