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Son Doblons, Santa Margalida, Mallorca

€9,900 Per Week

This exclusive Mediterranean property, set within a 130 hectare estate is located on the island of Mallorca.

The house originally dates from the sixteenth century and has been subject to a number of additions and modifications to allow for all modern conveniences and luxuries. The house comprises of 2000 square metres, arranged over two floors.

The maximum capacity is 16 people, i.e. 8 bedrooms, although additional beds can be provided to reach the capacity of 18 people.

Seven gardens, a total of 15,000sqm, surround the luxury rental villa and are placed around an Arabic style fountain, a system of cascading pounds, a music fountain and the pool. A large covered terrace, lounge area, dining area and various terraces and porches offer a wide variety of places to relax. Paved pathways and arbours of jasmine and bougainvillea connect different spaces between various tree species. A barn, which was used in the past to thresh wheat, can be found in a garden together with the wide paved esplanade, covered with olive trees, creating a perfect setting for celebrations of the highest level.

GROUND FLOOR: Large entrance hall Living room, fireplace Winter dining room, courtyard access Summer dining room, terrace access Kitchen, kitchen table, pantry Closed porch, dining area Family chapel Staff apartment BR1: Double bedroom (alcove), en suite bathroom, dressing room, bureau, living room, fireplace

FIRST FLOOR (staircase 1): Living area, grand piano Library, central fireplace, reading table, seating area, balcony access BR2: Twin bedroom, en suite bathroom, living room, fireplace, terrace access BR3: Twin bedroom, en suite bathroom, living room, fireplace, terrace access BR4: Double bedroom (canopy), en suite bathroom, living room, fireplace, covered terrace access BR5: First floor: Living room, fireplace Second floor (tower): Twin bedroom, en suite bathroom, view room with two single beds

FIRST FLOOR (staircase 2): BR6: Twin bedroom, en suite bathroom, living room, fireplace, terrace access BR7: Twin bedroom, en suite bathroom, living room, fireplace, terrace access BR8: Double bedroom, en suite bathroom, couch, chair

OUTDOORS: Courtyard, fountain Swimming pool, sun terrace, sun loungers Large covered terrace, lounge area, dining area Various terraces, porches Fountains, ponds Seven gardens, paved pathways (15,000 sqm) Beautiful countryside (140 ha)

Square Meters: 2,000

Rental Prices from €9,900 per week

Included Services: - Taxes - Cleaning service 6 hours/ day 6 days/ week - Linen & towels - Gardener - Internet - TV - Tennis Court - Soccer Court - BBQ - Ping Pong Table

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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For further information or to book a viewing, please contact the lettings team.

Telephone: +44 (0) 20 7351 2383

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