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La Zagaleta, Benahavis, Spain

€4,900,000

A stunning new contemporary house, with advanced design and technological features, from owners with a proven reputation for building very desirable properties.

Specification: Plot - 3375sqm House - 740sqm Terrace/covered - 129sqm Terrace/open - 240sqm Garage - 70sqm

Salon / Sitting room / Study / Kitchen / Dining room / Master bedroom suite / Second master bedroom suite / 2 further bedroom suites or gym / Wine cellar and second kitchen / Sauna / Cloakroom / Laundry room / Cinema / External Firepit / Swimming pool with waterfall and heating / Jacuzzi / Outside BBQ and dining area

Geothermal Energy to power Under Floor Heating and Air Conditioning / Computer controlled Lighting, Music, Air Conditioning, Gate Entry, Swimming Pool / Security System / Electronic front door Security

Location: La Zagaleta is a private nature reserve spread across the foothills of the Sierras. This striking landscape is home to 240 or so private houses.

Winding mountain roads connect the residents to the estate's 2 golf courses, 2 golf clubs, tennis courts, swimming pool, ballroom, 3 fishing lakes, riding club and heliport.

La Zagaleta sits a few kilometres back from the coast and the world of Marbella. Malaga Airport is a 40 kilometre drive down the motorway

Designers: No.1 La Zagaleta is the latest building from John and Jill Broome, the award winning principals of Roach & Partners, in collaboration with architect, Lis Melgarejo and lighting designer Luke Watkins.

Roach & Partners has an uncompromising focus - to manifest exquisitely designed homes which blend into their surroundings blurring the distinction between internal and external.

Please be aware prices may vary due to fluctuations in the exchange rate

BUYING IN SPAIN

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 Spain 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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