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Ref: MLSC7070806
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Algorfa (Montemar)2 Bedroom Ground Floor Flat with an artificial grassed terrace both at the front and rear of the propertyThis apartment is located in the Montemar Urbanization of the town of Algorfa, AlicanteIt has a build size of approximately 56m2The Apartment is ready to move into Perfect as either a holiday home or as a permeant residenceFurniture is partially includedThis flat is housed within a gated community, and has an electric gate operated key fob at the entranceCommunal Pool and Tennis CourtThis home is about a 20-minute walk or a 3-minute drive to all the local amenities, such as restaurants, shops, and barsJust a 20-minute drive to the coast (Guardamar del Segura)
Property Features
- 2 bedrooms
- 1 bathroom
- Garden
- WC: 1
Costing Breakdown
Standard form of payment
Reservation deposit
3,000€
Remainder of deposit to 10%
9,900€
Final Payment of 90% on completion
116,100€
Property Purchase Expenses
Property price
129,000€
Transfer tax 8%
10,320€
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.