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Casa Alcornoque, La Zagaleta, Benahavis, Spain

€3,950,000

This delightful house offers suprisingly spacious accomodation and a wonderful location above the golf course in a convenient position near to the main clubhouse.

Before entering the house we first find a beautiful patio giving shade for dining and relaxing. This leads through to the entrance hall with high vaulted ceiling.

The large drawing room and dining rooms are very well appointed with excellent views over the gardens. Off of the light and airy kitchen is a breakfast area and small sitting room all of which form a very attractive part of the house. On this floor there two bedroom suites.

The upper floor has two good sized bedroom suites with exterior terraces - the master suite also has a comfortable stting room/study.

On the lower floor is a further bedroom suite, wine cellar, laundry room, gym and a very comfortable relaxation room with sauna and jacuzzi, and a garage with an additional car port.

The property benefits from considerable recent expenditure. The heating and electrical systems have been totally replaced by the highest quality systems, supplied and fitted by German engineers.

The spacious gardens are a delight. From all areas, including the terraces around the heated swimming pool, there are panoramic mountain and golf views to the south and west.

Plot area: 5519m² Built area: 700m²

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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