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Can Oceans, Cala Vedella, Ibiza

€20,000 Per Week

FROM €20,000 per week

Location: Cala Vadella, Ibiza Surface area: 750m2 Aspect: Due south-west View: Breathtaking panoramic sea view

Inside OCEANS, you will find: 7 beautifully appointed double bedrooms with an ocean themed decor, including a magnificent Master Suite. Seaview. Terrace with table and chairs to accommodate all guests 5 marble bathrooms

Outside, you'll be able to enjoy: The infinity pool Several terraces (teak decking and stone) Cut stone walls and fountains Annexes Duplex designed for staff (1 person) or for a guest

GROUND FLOOR Entrance hall with 6 metre-high ceiling Discerning interior décor to delight art lovers… The living room: wonderfully spacious, opening onto the terrace and pool with a panoramic view over the sea (fully fitted bar area, fridge, cabinet, flatscreen LED TV, Bose music system, DVD player). The dining room: white lacquered table seating up to 14 people The kitchen: state-of-the-art fitted kitchen in Corian and stainless steel. Top of the range professional equipment including Liebherr and Miele (wine cellar, 8-ring gas hob, hot stone grill, standard grill, fryer, 2 dishwashers, 2 large refrigerators, freezer, 2 traditional ovens, 1 microwave oven, 2 coffee machines - Nespresso and Americanos - kettle, toaster, ice-cube maker A wide range of accessories - monogrammed tableware and cutlery 3 double bedrooms fitted with large walk-in wardrobes and safe; outdoor terraces with chairs. 2 marble bathrooms 1 fully equipped office with fax, printer and wireless internet connection. 1 utility room with 2 washing machines, 2 tumble dryers, ironing board and steam iron. Guest toilets Wireless internet connection

1st FLOOR 4 bedrooms, including one superb Master Suite and ensuite bathroom, and an uninterrupted, panoramic view of the sea With lounge area opening onto two terraces Cabinet with retractable LED TV Large walk-in wardrobes Safe Marble bathroom 3 large double rooms with spacious walk-in wardrobes and safe Fully furnished terrace Sea view 2 marble bathrooms

OUTSIDE ON THE MAIN TERRACE Infinity pool overlooking the sea A series of terraces in Galician stone and teak decking, all with a sea view 6 metre-long covered chill-out bed facing the sea Hammock Chaises longues and small tables for up to 14 people 2 very large parasols 3 outdoor lounge areas facing the sea 2 round outdoor tables with chairs, facing the sea 2 round outdoor tables with chairs, facing the sea Illuminated fountains and Buddha in the hall; lawn; illuminated palm trees Stone walls and Buddha

ADDITIONAL FEATURES: Secure boundary Intercom with camera system Alarm 2 indoor parking areas Bed and table linens; bath towels, monogrammed with the Oceans logo

SERVICES FROM OUR PARTNERS For a 5* stay that's even more memorable…

For your convenience: Additional staff and cleaning services (2 staff for 6 days a week already included in price) Catering to order Babysitting services You are strongly advised to book early for the summer season

For your enjoyment: Boat hire several options available at various ports Reservation management Restaurants and Nightclubs

BUYING IN THE BALEARICS

As you would expect, the islands come under the same broad scope of law as Spain when it comes to buying property on the islands.

However , the Balearic Government also has its own authority, including making policy decisions over issues such as tourist taxes and the licensing regime governing areas including holiday lets.

As you would expect, Spain has a well-established mechanism for buying property.

  • If you’re an EU citizen, buying is straightforward. If you are not, check whether certain restrictions apply to you (such as the time you can spend in Spain).
  • All property transactions in Spain are overseen by a Notary. He/she is there to validate the paperwork, check all necessary taxes are paid and register the property with the Spanish Land Registry. However, it is not the Notary’s role to give you legal advice or represent you.
  • Appoint a fully independent lawyer who speaks your language as well as Spanish, and who has no connection to the selling parties. The local town hall, the nearest British Embassy or online research can help you find one. Your lawyer will check that you are buying from the legal owner; whether there are existing mortgages on the property; if it complies with building regulations; and if there are developments that might affect you.
COSTS

In addition to the purchase price, buyers should allow a further 10-15% for additional fees and taxes. These may include:

  • Your proportion of the Notary’s fees, according to a tariff set by law. Allow for a sum of 0.5% – 1% of the price declared in the deeds.
  • The fees of your ‘abogado’ (your own lawyer). These will depend on the complexity of the purchase, but €1500 - €3000 is a guide figure. 
  • The Land Registry fee of around 1% of the sale value.

 

A local capital gains tax, reflecting the gain in value of the property when it is sold, is paid by the seller. However, if that seller is non-resident in Spain and fails to pay it, be aware that the burden can fall on you as the buyer.

ONGOING COSTS

Routine costs and charges of owning a property in the Balearic Islands include:

  • A property ownership tax (the ImpuestoSobreBienesInmuebles (IBI)). This local tax is charged at between 0.4% and 1.1% of the valorcatastral. The good news is that this is based on the administrative value of the property, which is frequently lower than the market value.
  • A wealth tax. For non-residents, there is a tax to pay on assets you own in the country. This starts above a threshold of €700,000 per person.
  • Personal Income tax. If you’re a non-resident and you don’t receive rental or any other income in Spain, you pay one-quarter of the 2% of the valorcatastral. If you are a landlord, allow a tax bill of about 25% of the gross income.

If and when you come to sell, Capital Gains Tax (Impuesto de Plusvalia) will apply. At the time of writing, this stood at 19%.

Please note: This article reflects Aylesford’s current understanding of property legislation in Spain and the Balearic Islands. It is offered for general guidance only; specialist legal and tax advice should always be taken for any property transaction.

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