HOME FOR SALE Purchasing information

monday, 20 november 2017
info@casadeformentera.com

Purchasing information

The real-estate market in Formentera is different from those of the other Balearic Islands, having a real-estate on this island means both realizing a lifetime dream and making a profitable investment.
Formentera is considered to be the last corner of paradise in the Mediterranean Sea: uncontrolled urbanization has been carefully avoided in order to prevent any damage to the land and to the very soul of the island.
This has guaranteed a profitable real-estate revaluation and a safe income to those who rent their properties during the holiday season (starting in May and finishing in October)

The price of a real-estate changes according to the type and location of the estate itself.

Here are some indicative prices of a real-estate investment in Formentera:

one-room flat: 140.000 200.000 €
flat with one bedroom: 200.000 250.000 €
flat with two bedroom: 250.000 400.000 €
independent house with land: 400.000 800.000 €
big house or big villa: 800.000 1.200.000 €
luxury villa with swimming pool: 1.200.000 5.000.000 €

Procedure in buying a real-estate in Formentera

The process of buying a property in Formentera consists of two phases:

  1. a 5% or 10% of the value of the real-estate will be payed in advance after signing the memorandum of understanding;
  2. notary deed to be executed within the date agreed by the parties (fiscal tax on real estate property varies between 8% and 10% of the value of the real estate).

Requesting a mortgage

If the buyer wants to request a mortgage to a Spanish Institute of Credit, the mortgage will usually be around 60% of the value of the real-estate

The documents required to request a mortgage are:

  1. Pay packet (only for employees);
  2. Income tax return;
  3. Passport;
  4. NIE number (tax identification number) required only for foreigners.

Our services

Casa de Formentera Inmobiliaria will be by the side of its customers during the purchasing process by offering the following services:

  • real-estate valuation
  • insurance for rental property
  • financial and legal counselling

CASA DE FORMENTERA INMOBILIARIA
Carrer del Sol, 2 | Sant Ferran de ses Roques | Formentera | Baleares
T. +34 971328834 | M. +34 649667273 / +34 680157670
info@casadeformentera.com

 

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