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Things to remember when you are investing in Mallorca properties!
Buying or renting a property in Mallorca is an attractive investment in a climate of low saving rates and a volatile stock market. You can rent property in Mallorca where you can easily enjoy your vacation and give the best experience to your family. This place is a seasonal island and always has amazing weather which encourages you to stay in Mallorca permanently.Â
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DON'T COME TO MALLORCA.
The Balearic Islands (Mallorca/Majorca, Menorca, Eivissa/Ibiza, Formentera) are some of the best places to visit during summer holidays. But I beg you not to come here.
Right now, we are facing a big problem that is destroying our island in all aspects: mass tourism.
To give you some context:
The Balearic Islands cover 5,040 km², not even a fraction of the size of California.
The Balearic Islands are home to local residents; right now, we have 1,231,487 people living across Mallorca, Menorca, Eivissa, and Formentera.
We have our own beautiful culture, but we are losing it to globalization, capitalism, and Spanish fascism.
So, why am I beging you to PLEASE not to come to Mallorca?
Tourism is killing our homeland.
Every year, we break records for the number of tourists visiting our island. Right now, in June 2024, tourists outnumber the population of the Balearic Islands. Last year, 14.42 million tourists came here. This is unsustainable. Do you know what that means? There are 12 tourists for every resident. THAT'S A LOT.
Not only is this system, where tourists get everything they want, killing all the fauna and flora, but locals can't afford to pay rent or buy a house, because landlords are raising prices or turning their properties into Airbnbs.
We regard tourism as a threat to our society. Tourists come and disrespect the surroundings, attending parties and drinking excessively, annoying those of us trying to live our everyday lives. Additionally, rich people profit from mass tourism: they build hotels on protected shorelines, construct golf courses, sell plane tickets at prices that are ridiculously low compared to the cost of housing, and send thousands of cruise ships and planes here each year.
Here you have some examples:
A group of British tourists causes a mass fight on Illetes beach, in CalviĂ
A hotel company fights to maintain its illegal pools in Menorca while some town halls from some villages, cut the water during a drought time.
There is a Twitter account dedicated to counting all the tourists who jump from balconies and get hurt or die.
Our government is doing absolutely nothing to stop this barbaric situation. That is why, since the outcry, we have launched a fight against these deplorable conditions.
In recent weeks, we have been demonstrating for many reasons, but one of the biggest demonstrations was under the slogan "Mallorca is not for sale", which brought together 25,000 people.
So please, in order to help us,
I BEG YOU TO NOT. TO. COME. TO. MALLORCA.
#mallorca#balearic islands#majorca#menorca#ibiza#formentera#america#tourism#islas baleares#germany#Deutschland#capitalism#anti capitalism#demostration#britain#united states#united kingdom#culture#imperialism#travel#traveling#destinations#airport#airplane#eivissa#spain#spanish#espaĂąa#mallorca no es ven#mediterranean
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How to get the most out of your Marriott timeshare investment.
Introduction
Marriottâs Club Son Antem provides a luxurious opportunity that places the comfort, courtesy, and charisma of Mallorcan in one elegant place to be. If one is the potential buyer of a timeshare, if someone opts to become a manager of a Marriottâs Club Son Antem, or if someone wants to sell his or her timeshare, then it is a good option. In this guide, you will find all the necessary information about Marriottâs Club Son Antem Rental, including purchasing Marriott timeshares, selling, and obtaining optimal results from them.
Information about Marriottâs Club Son Antem
Club Son Antem is one of the Marriott's famous resorts which is situated in the most attractive area of Mallorca, Spain. This resort has a specific Mediterranean style, it can boast nice infrastructure for different types of persons and has a friendly playground for children. Club Son Antem Rental is the timeshare opportunity of Marriott hotels that can be rented out for the duration of the vacation to individuals who enjoy the concept of luxury, yet are not willing to commit to a lifetime membership of the organization.
Marriott Timeshare Concept
They enable personal or professional folks to buy a portion of the resort premises by agreeing to use it under specific months each year. Organizationsâespecially those operating across international bordersâcannot afford to compromise on quality, which explains why Marriott presents one of the most dependable timeshare programs anywhere in the world, enabling members to enjoy flexible vacations not only at Marriottâs Club Son Antem but in any of the affiliated resorts around the globe.
Benefits of Buying a Marriott Timeshare
The acquisition of a timeshare right in a fine hotel like the Marriottâs Club Son Antem is a sure way of taking quality holidays for several years. Autonomy: freedom to choose where and when one would want to go; Accommodation perks; the possibility of saving money more if one stayed at the resort for longer; Use right: the possibility after a certain time to trade another trip at one different Marriott Vacation Club resort in the world.
To buy Marriott timeshare, consider the following steps:
Research: Learn more about the legalities and requirements of the timeshares.
Contact a Licensed Seller: Get an affiliated timeshare broker or go through the arrangements of Marriott.
Review the Contract Carefully: Ownership of a particular timeshare property, cost for the property, and the partyâs rights to use the property are described in the contracts.
Finalize the Purchase: After you are comfortable with the agreement, finalize the deal to take legal possession of your Marriott timeshare.
The Three Factors to Look at When Shopping
Costs: Both the initial cost of acquisition and the cost of subsequent maintenance have to be taken into consideration.
Vacation Flexibility: Learn whether your schedule fits any of the options Marriott offers, namely fixed or flexible timeshare.
Resale Value: Investigate the travel market for timesharing Marriott to determine the real appreciation value.
What Does Marriottâs Club Son Antem Receive for Rent?
Marriottâs Club Son Antem Rental program helps you enjoy the resort without making an ownership commitment. Renting paves the way to all the advantages of Marriott accommodations; villas, clubs, or spas, for a relative fraction of the cost of owning a property there.
Advantages of renting a timeshare
There is always the advantage of flexibility since you do not have to commit yourself to using that particular house for some time. For visitors who cannot afford a timeshare and at the same time theyâre searching for a luxurious vacation with their family or partner, this is the perfect solution.
How to Rent a Timeshare
Find a Rental Platform: Numerous agencies, websites, and services offer rental of Villas in Club Son Antem, particularly with Marriott.
Verify the Rental: Make sure that all ancillary services you are expected to enjoy during your stay, together with other forms of access are covered in the rental agreement.
Book in Advance: Staying in timeshares implies paying a fair price for accommodation, and this is well known, making it important to book early esp in high-demand periods.
Marriott Timeshare: How to Sell
Marketing Mix for Marriott Timeshare and its Relevance 1 Reason for Selling Marriott Timeshare
There are some circumstances that may make you want to stop traveling, and therefore, selling your Marriott timeshare could be the best thing to do. A timeshare may be sold as a way of redirecting the money to other investments or as a way to experience other forms of vacationing.
Process of Selling Marriott Timeshare
Evaluate the Market: Refer to current home resale for similar houses.
List the Timeshare: Buy through a licensed timeshare broker or use listing websites.
Negotiate the Sale: Negotiations may take place here, and therefore any buyer is likely to approach you to bargain for the prices.
Tips for a Successful Sale
Be Patient: It is important to be patient when selling your timeshare because it will take some time to find the right buyer.
Set a Competitive Price: In the pricing criteria, one must price it reasonably on the market value of the product.
Highlight Amenities: Do not lose focus on Marriottâs Club Son Antem Rental specialties that make your timeshare an asset.
Understanding Timeshare Management
Literally, owning a timeshare is not a joke this needs a plan and management. Understanding the fees, review of the timeshare agreement, and use of tracking tools will go a long way in helping you get the best out of Marriott timeshare.
Key Management Tips
Plan Early: Try to plan your vacation and make some arrangements beforehand.
Understand Exchange Options: Owners of Marriott timeshare have the opportunity to exchange their stay with other resorts in a particular network.
Stay Updated on Fees: Know about extra charges associated with an apartment.
Advantages of Outsourcing Timeshare Management Service
There are professional companies that deal with the management of timeshare resorts, which coordinate all the bookings, and even the payment of maintenance fees.
Initialization of partial interests is therefore not atypical to
Conclusion
Marriottâs Club Son Antem Rental is one of the best options to rent a car and explore the beauty of Mallorca Island. Be you thinking of how to buy Marriott timeshare, whether it is required to rent a Marriott timeshare or, one can consider selling a Marriott timeshare, this resort provides numerous advantages for tourists and owners. Effective timeshare management helps to have a proper ownership experience avoid possible problems during the vacations and further preserve the value of the object. When you grasp all the buying, selling, and management aspects described above, you will fully enjoy your Marriott timeshare and have vacations of your lifetime for the years to come.
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How to find out best real estate company in Mallorca?
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Finding the "best" real estate company in Mallorca depends on your specific needs and priorities. Here are some tips to help you narrow down your search:
Define your needs:
What type of property are you looking for? (Luxury villa, apartment, rural finca, etc.)
Where are you interested in buying/renting? (Specific town, region, proximity to amenities)
What is your budget?
Are you a buyer, seller, or renter?
Do you require any additional services? (Legal assistance, property management, renovation recommendations)
Research and compare agencies:
Start with online resources:
Real estate association websites: APEMALL (AsociaciĂłn Profesional de Empresas de MediaciĂłn Inmobiliaria de Mallorca) or ABINI (AsociaciĂłn Balear de Inmobiliarias)
General search engines: Look for agencies specializing in your desired area and property type.
Local publications and websites: Mallorca Zeitung, abcMallorca, Living in Mallorca.
Read online reviews and testimonials: Check Google Reviews, Facebook pages, and independent review platforms.
Compare agency websites and listings: Look for professionalism, quality of listings, clarity of information, and target audience alignment.
Contact shortlisted agencies: Ask questions about their experience, expertise in your area, unique selling points, and fees.
Seek personal recommendations:
Talk to friends, family, or acquaintances who have bought/sold property in Mallorca.
Consult with professionals like lawyers, financial advisors, or property managers.
Consider these additional factors:
Agency size and structure: Larger agencies may have more resources but smaller ones might offer more personalized service.
Languages spoken: Ensure the agency communicates effectively in your preferred language.
Marketing strategies: How does the agency showcase properties and reach potential buyers/sellers?
Negotiation skills: Ask about the agency's track record in securing good deals for clients.
Transparency and communication: Choose an agency that keeps you informed and addresses your concerns promptly.
Ultimately, the best real estate company is the one that best understands your needs and makes you feel comfortable and confident throughout the process. Don't hesitate to interview several agencies before making your decision.
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Buy or Rent a Villa on the Balearic Islands đŞđ¸
The Balearic Islands have always been a popular travel destination in Europe for itâs obvious reasons đ but with the Golden Visa Program, affordable pricing, great rental income, and an increase in direct flights incl NYC, Miami & Atlanta, there has been a big increase in Americans buyers lately.
Hereâs more infođď¸
BUY
3-5 bedroom villas start at âŹ1.5/2m, 6 bedroom+ start at âŹ2/3m.
⢠Balearic buyers: In Ibiza & Formentera: French & Italian, in Menorca: UK, France & Italy, in Mallorca: Germans, Austrians, Swiss and USA.
⢠As a foreigner you can get financing which is usually with 25% down at interest rate of 1,5%-2,5% currently.
⢠The deposit it 10% signing and balance at closing.
⢠Commission is for the seller, closing costs for the buyer are about 8-12% of the purchase price which includes: Taxes => Resale: Property transfer tax 4-10% depending on the region, New construction: 10% VAT and 0.4 to 1.5% AJD (Tax on Documented Legal Acts), Notary and registration fees: 0.15% for properties is âŹ1M, Lawyer if needed, is about 1% of the sales price.
⢠The Golden Visa đŞđş If you buy a property over âŹ500k, you can qualify => a 5 year Spanish residency, renewable after 5 years and you can apply for citizenship after 10 years.
⢠A rental license is needed to rent it out short term. Rental income tax is 19% up to âŹ12,450, 24% âŹ12,450-âŹ20,200, 30% âŹ20,200-âŹ35,200, 37% âŹ35,200-âŹ60,000 and 45% for âŹ60,000+
⢠Costs: Property taxes are between 0.4-1.1%. Property insurance & utilities are about âŹ2,500-3,750 a year for a villa.
⢠High season is from April until October (peak June-August).
RENT
⢠PriceđĄđ°
=> Our villas start at âŹ10-âŹ20k/w for 3-5 bedrooms and âŹ15-30k/w for 6-10 bedrooms, with some exceptions. Prices vary per island, Menorca being lower and Ibiza the highest.
⢠Most villas have a 4-5 days minimum.
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If you youâre planing on buying or renting a Villa on the Balearic Islands let me know đĄ I partnered up with Viva Sotheby and happy to assist you here!
#balearic #balearicislands #balearicvillas #sothebys #sothebysrealty #mallorca #ibiza #menorca #formentera
#balearic#balearic islands#Ibiza#ibiza villas#mallorca#Mallorca villas#menorca#menorca villas#formentera#formentera villas#real estate spain#spain real estate#sothebyâs#sothebysrealty#international real estate
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A drawing illustrating the plot by Basque separatist group ETA to assassinate King Juan Carlos in the 1990s. They rented a property in Mallorca which overlooked Juan Carlosâs boat. During the then Kingâs annual summer trip to Mallorca they set up with guns in the property, waiting for the King to sail past. Thankfully the plot was intercepted before Juan Carlos could appear.
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Apartment for sale, Altea Apartment for sale in Altea, an oasis on the Costa Blanca, known for its climate, its beaches and its crystal clear and warm waters, a perfect place to stay all year round. The apartment is located 100 meters from the beach, on the 3rd line from the sea, on the 1st floor. It has 70 m2 and consists of 2 bedrooms, living room, kitchen, bathroom and terrace. Ideal for investment, since it can be rented throughout the year. ALTEA, a coastal city, with its bohemian air and white houses, is located in the heart of the Costa Blanca and is considered one of the most beautiful holiday destinations in the Alicante region. It stands out for its beautiful beaches, and with its beauty and the sun throughout the year, it attracts travelers from all over the world. The beaches of the big cities are especially popular, such as the white pebble beaches: Playa la Roda, Nueva Playa De Altea and Playa de lâEspigo. There are also nearby sandy coves, such as the Bay of Mascarat, while three marinas offer numerous opportunities for activities at sea. Alicante-Elche Airport is 60 km away. Valencia-Manises Airport - 130 km Benidorm - a resort alive 24 hours a day, with huge skyscrapers, lively nightlife and amusement park, "Terra MĂtica" -10 km Calpe, a tourist center known for the imposing Ifach mountain and the magical pink flamingos - 10.7 km Denia - from where the ferry leaves to Ibiza and Mallorca - 40 km." #ISREproperty . . . #home #property #forsale #newhome #dreamhome #househunting #apartmenthunting #luxurypropertyspain #realestate #realtor #realestateagent #realestateinvestor #homesweethome #luxuryrealestate #propertycostablanca #househunting #luxuryhome #realestateinvestment #followme #follow4followback (at Altea, Spain) https://www.instagram.com/p/CQ0RVO7ApsN/?utm_medium=tumblr
#isreproperty#home#property#forsale#newhome#dreamhome#househunting#apartmenthunting#luxurypropertyspain#realestate#realtor#realestateagent#realestateinvestor#homesweethome#luxuryrealestate#propertycostablanca#luxuryhome#realestateinvestment#followme#follow4followback
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The Devil is in the Details: Part 1
After plugging the address in to her GPS, Karina drove off towards the center of the self proclaimed modern art district, just past the Kunstareal.
You have arrived at your destination.
With a frown, Karina drove on in hopes of finding a parking spot. She switched the map app on her phone to walking directions and soon found her way to the empty storefront. Finding the door locked, Karina stepped off to the side and chose to examine the chipped portions of her manicure. Soon she wouldnât be able to resist picking at the missing sections of polish until she had peeled the entire nail clean.
âMiss MĂźller!â
Looking up, Karina saw a middle aged woman in a camel colored suit hurrying towards her and extending her hand.
âSorry Iâm late, traffic was terrible!â After shaking Karinaâs hand, the woman then took the same hand and smoothed out her ivory blouse. âFredericka Schmidt. Itâs so nice to meet you in person, Ekaterina.â
Karina immediately formed the impression that the woman was a little scattered and in over her head. Even though she was late, she shouldnât have acknowledged it or apologized. That would have given her the upper hand. Instead, Karina now held that position as the one being inconvenienced. At least, that was what Marwin had always told her. Giving her head an almost imperceivable shake as if to get the thought to leave, she smiled. âKarina will be fine, thank you.â
âWonderful.â Schmidt pulled out a ring of color coded keys and flipped through them until she came to a bright green one. âNow, most of the commercial spaces on this street are either occupied by stores or we have a handful of artists that use them as their own personal galleries.â
Once the door was unlocked, they stepped into the bright and completely open space. âIâm interested in setting up a gallery of sorts,â Karina walked around the perimeter before turning her attention back to the real estate agent. âI inherited a large collection and while Iâve donated a lot, there were several pieces that I donât want to part with so I figured that would be my best option. I have a few of my favorite pieces in my house but my husband isnât a huge fan of having the entire place filled.â
âYou have the Strohmann estate!â Schmidtâs eyes widened when she realized who she was dealing with. âI have larger properties-â
Karina gave her head a little shake. âNo, this size is fine. I only have a handful that I want as permanent installations. Aside from that I plan to feature emerging artists that might otherwise not have a platform.â
âYes, of course. How noble.â
Right then, Karina had to fight back the urge to roll her eyes. She never made it a habit of tying herself to Marwin Strohmann but her name was now well known in the artistic and philanthropic circles as the inheritor of his estate. It didnât help her desire for anonymity when Focus published an article profiling the ten wealthiest âunder 30âsâ in the region. Karina had refused an interview and wouldnât provide a headshot so the magazine must have searched for a useable picture elsewhere. The photograph that ran with the profile showed she and Leon both dressed in all black with sunglasses on, Karina with her arm looped around Leonâs, attending the memorial service for Marwin. If she was looking for a silver lining to it all, they made a very attractive couple.
âIâd like to sign the lease today if possible.â Karina turned back towards Fredericka Schmidt and punctuated her statement with a smile.
As part of her ongoing therapy, she worked with a body language coach. The initial idea was to help her feel more in control of her own surroundings but Karina was also aware that it just helped her become more assertive in general. The only difference was now that she didnât care if people called her a bitch.
âYes, yes, of course!â That request seemed to have flustered Schmidt somewhat but Karina just waited patiently as all of the paperwork was gathered.
When she got back into her car, Karina made a few taps on the in dash monitor and waited for the phone to ring. She wasnât sure heâd pick up but she figured leaving a message would be fine also. After a few more rings, it clicked over.
âHey Mausi!â
It always made Karinaâs heart flutter when he called her that.
âHi Leon.â She smiled and waited to see if he was feeling chatty or if sheâd get to go first. When there was a slight pause, she continued. âI got it.â
âYou rented the space? Shit, thatâs great!â
âYeah,â She laughed, feeling excited herself. âI looked around inside and itâs perfect so I signed a yearâs lease right then.â
âIâm so proud of you, Maus.â
Karina could hear some commotion in the background then finally a voice she recognized yelled out.
Whoâs on the phone?
She laughed when she heard Leon answer back: Angela Merkel!
âHey, babe, I miss you like crazy but weâre out on a boat and the reception bad. Can I call you back tonight? Like right before bed when Iâm by myself?â
She smirked now, knowing exactly what he had in mind and knowing that she could use that as well. âYeah, of course. I love you, sir. And tell my brother I said hello.â
âI love you too, Maus.â
With a sigh and a smile, Karina switched the audio over to music and began the drive back to their place.
When Leon strode back out of the cabin, the guys started to tease him.
âWas that the wife checking in on you?â Lucca called out over from the other side.
Leon cocked his head to the side and smiled. âThat was the wife giving me some good news about a project sheâs been working on. Your sister says hello, by the way.â He had turned towards Marius at the end who just rolled his eyes, much in the same way his sister did.
âHow did you manage to sneak away for a whole week?â Marius made a little jab at Karinaâs expense.
Leon just shrugged now. He easily could have taken the credit for taking a guys only holiday, but he never missed an opportunity to point out how understanding and, at the root of it, reasonable Karina really was. âI told Karina what was planned, when Iâd be leaving and when Iâd be back.â
When that got some incredulity from the rest of the crew he laughed. âPlus she hates Mallorca and Iâm taking her to the Maldives for our honeymoon over the winter break.â
Even though Karina had been a sore spot between Leon and Marius initially, Marius did give eventually but there was an unspoken understanding that Leon wouldnât necessarily rub it in that he had married his best friendâs little sister. Every now and then, however, Marius would check in to make sure things were ok with Karina.
âIs she still seeing her therapist? The good one?â Marius dug through the cooler and found one of the ciders that Leon liked after getting a beer for himself.
With a nod of appreciation, Leon took a sip and then nodded again. âYeah. Sheâs actually been able to cut down to twice a month now and, um, sheâs doing really well. Iâve got my Maus back.â
âGood.â Marius nodded as well. âThatâs good.â
Once Karina made it home, she immediately went to the spare room that she had set up as a work space and stood in front of her design board. âIâll need to take pictures of the layout. Then I can figure out where I want everything to go and what area will be open for other artists.â
She turned to look at Elsa, her Bernese Mountain Dog, who seemed entirely disinterested.
âOf course,â She scratched Elsa behind her ear, âThereâs an office so Iâll need to get you another bed to keep there. Sound good?â
That at least elicited a groan in response.
âI know.â Karina at down on the floor next to Elsa and wrapped her arms around the dog. âI miss him too. He said heâll be home soon so maybe we can both stop moping around then.â
Karina couldât decide if she felt like cooking or if she even wanted some sort of takeout. After walking out on the terrace, she realized that the temperature had settled down to something a lot more comfortable. Grabbing Elsaâs leash, Karina looked to see what vendors were at the market today. Sometimes she could find a whole meal there and right now, that seemed like a better idea than anything else.
After dinner, Karina sat down and worked on compiling the history of the various pieces of art that she was donating to the museum. Occasionally, sheâd glance at her phone but when she began nodding off at the table, Karina decided it was time to call it a night. She kept her phone next to her as she washed her face and brushed her teeth but it remained silent. Finally, she put a movie on and got into bed.
When Karina woke up, the first thing she did was to check her phone but there were only a few updates from various apps, no missed calls. Flopping back down, she rolled over on her side and stroke Elsaâs head. Elsa had made herself at home on Leonâs side of the bed whenever he was away.
âI know Iâm being ridiculous,â She gently smoothed out Elsaâs ear now, âbut he said heâd call.â
Karina frowned as she stared up at the ceiling but Elsaâs paw on her forearm brought her mind back. âOk,â she sat up and yawned. âOk, Iâm getting up.â
The hardest part of her day had become figuring out what to wear to work. There was a professional dress code she needed to adhere to, the weather outside had been stifling hot recently yet the museum was always frigid, and there were some days where she was in the archives moving things around. Fortunately today, Karina knew sheâd only be working at her desk so a simple shirt dress would suffice.
Coffee in hand, Karina made her way to the shared space where her desk was, greeting her coworkers along the way.
âOh, Karina?â
She turned to see her boss, Nena, walking towards her carrying a leather folio. âYes?â
âI was hoping you could help me out and train Daniel and Sara on conducting tours today.â Nenaâs voice had a touch of pleading to it. âJulia has been working with them but she needed to call out sick today. Do you have time?â
Karina smiled and nodded. âSure. Let me just put my stuff away and Iâll meet you out front.â
Daniel and Sara were two college students who were interning, much like she had at one point, so she felt a sort of obligation to help them out. They had never been introduced but Karina figured couldnât have been any more than a year or two older than them which usually went over better than if she needed to tell someone older than her what to do.
âDaniel, Sara,â Nena turned to Karina once she had walked back to the main entrance. âThis is Karina MĂźller, sheâs one of our curators and actually wrote the script that youâve been working from. Sheâll be helping you out today.â
After spending a few hours with the two of them, Karina didnât mind Daniel, but Sara had a little bit of snark to her that just rubbed Karina the wrong way. Still, Karina was grateful when their training portion of the day was finished and she could go back to cataloging the newest collection that had arrived.
She stopped around lunch time and went for a walk before returning to the break room. Sitting at the table with her salad, Karina still had her ear buds in when she realized someone was in the room with her.
âHmm?â Karina had registered that it was Daniel who was speaking to her but she didnât actually hear his question.
Daniel let out a little laugh. âI just said thank you for this morning. Thatâs one of the more useful training sessions Iâve hadâ
With a nod, Karina offered a polite smile. âOh, thanks. Iâm glad it was helpful.â
âItâs easy to tell this is something youâre really passionate about.â His smile broadened. âListen, a few of us are going to catch a movie after work. Want to tag along?â
âThanks for the offer butâŚâ Karina then thought about what her evening would look like otherwise - taking work home and then moping around waiting to see if Leon would call. âLet me think about it, ok?â
Daniel offered a very satisfied grin in response. âSure.â
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Mallorca's mass tourism should go green
In the last year before the 2019 pandemic, 29.7 million passengers and 217,218 take-offs and landings were registered in Mallorca.
In terms of numbers of visitors, Mallorca and the Balearic Islands have been at the top for years, and now the Spanish archipelago in the Mediterranean also wants to be at the forefront when it comes to environmental protection.
In the last year before the 2019 pandemic, around 11.8 million tourists came to the Mediterranean island with the infamous Ballermann[1]. The Balearic Islands[2], which in addition to Mallorca also include Ibiza, Menorca and Formentera, even welcomed 16.5 million visitors. And this year there could be even more people relaxing on the sunny beaches or going hiking in Mallorca's Tramuntana mountains.
Many would be willing to pay more
Even some of the approximately 912,000 locals on Mallorca, whose prosperity depends on tourism[3], are beginning to feel uncanny. "I walk through the city centre of my childhood and don't know anyone anymore, just tourists, somehow strangers," complains a woman from Palma. She can no longer live there because the rents are too high due to the demand from foreigners.
The strongest argument for a change of course, however, are the increasingly dramatic effects of climate change. The summer was extremely hot, there was no rain and even in autumn the temperatures were still above 30 degrees. The Balearic Islands therefore want to limit tourism and become exemplary in environmental protection.
The archipelago in the Mediterranean Sea, that belongs to Spain, is to become the first holiday region in the world with sustainable mass tourism and a circular economy. This benefits the environment, locals, employees and holidaymakers, says the regional government. And of course this will attract holidaymakers, who are increasingly worried about the climate, to Mallorca. A street survey of German vacationers shows that many would be willing to pay more for it.
"Of course, environmental protection, sustainability, circular economy, of course everyone likes that. But nobody has the faintest idea how to organise a relinquishment without everything collapsing," complains Julian Ferrer, who runs a chain of restaurants and who is co-initiator of the quality offensive Palma Beach against drinking tourism at the Ballermann. After all, tourism contributes around 35 percent to the gross domestic product (GDP) of the Balearic Islands.
Distribute visitors better over the year
Despite the criticism, the island government is convinced that it has taken the right direction with a new tourism law[4]. "The new law initially prescribes a moratorium on the number of tourist beds, currently 630,000 for the Balearic Islands," said the regional Minister for Tourism and Economy, Iago Negueruela, of the German Press Agency. "Most months of the year we don't have a problem with too many tourists, only in the summer months. That's why we need to better spread the visitors over the year."
In the long term, however, the number of overnight accommodations should then be slowly reduced. "We are thinking of a mechanism whereby any hotel owner wishing to offer a new accommodation option for a holidaymaker would have to buy up two existing hotel bed licenses at another property," explains the socialist. In addition, the state is just starting to buy up old, cheap hotels and then shut them down without replacement.
At the same time, the hotels, restaurants and other parts of the tourism industry on the islands are to be gradually forced to operate in a more environmentally friendly manner. To do this, they first have to present annual reports on how much energy and water they use, what waste they produce and where they get their food from. In five-year plans, they then have to commit to specific steps to reduce energy and water consumption as well as the amount of waste and to buy groceries as locally as possible.
Climate-friendly building technology is promoted
On many country estates that offer rooms, this already works. In the Finca Sa Maniga near Bunyola[5] you can help with the almond harvest, pick lemons or grapes and there are typical dishes of the island for an opulent breakfast. "But we just don't know where to set up solar panels, because they're not allowed on the roof here," says Antonia Llado, who is the second generation to run the historic house in the Tramuntana with her parents Teresa and Miguel. So the oil heater will continue to run for the time being.
The public sector wants to support the development towards more environmental protection with subsidies of 60 million euros. It is about the installation of photovoltaic systems, better insulation of the houses, more economical use of water, the use of exhaust air heat, the switch to electrical devices such as in kitchens and for water heating or electric cars.
But it is also about the health of the staff. The hotels should buy height-adjustable beds to make the work of the women who prepare the rooms easier and to save them back problems. Ferrer is skeptical. "These beds cost eight times as much as a normal bed, are technically fragile, and it's not clear whether that's easy on the backs of the staff," he complains.
Mallorca is too small for today's tourism
Environmentalists are also critical of the island government's legislative initiative, but for different reasons. "We welcome the goals of the law, but they shouldn't be financed with public money. The tourism industry has enough money itself," says Margalida Ramis from the environmental group GOB[6] on Mallorca. In addition, the industry is given too much time for environmental measures. Today's level of tourism is just too big for the island. There is neither enough agricultural land nor enough space for solar systems and wind farms to provide food, water and green energy for millions of holidaymakers and locals.
The head of purchasing at the luxury hotel Son Vida in Palma, Francisco BalcĂĄzar, sees the new law positively. "We are pioneers in some areas when it comes to sustainability and the circular economy," says the manager, who is also responsible for all environmental issues in the company.
And BalcĂĄzar has a lot to show for it. The Son Vida and two other Majorca hotels belonging to the German SchĂśrghuber Group[7] are already equipped with solar systems and water-saving technology. The conversion to electrical devices is also underway. "Because we only get electricity from renewable sources, that's the way to stop releasing carbon dioxide," he says. The Sheraton Mallorca Arabella Golf Hotel, which also belongs to the group, has been fully electrified since the summer and is therefore no longer releasing any carbon dioxide.
Natural capital and the flight problem
Farmers on the island who replace artificial fertilisers with compost made from the organic waste from the hotel's kitchen and gardens are paid a higher price for their produce. And the guests can then use a QR code at the breakfast buffet to find out which chicken laid the breakfast egg and which farmer harvested the tomato on the plate, how much biogas was produced and how much carbon dioxide was saved through local and ecological production. All environmental investments are not just about how quickly they pay for themselves. "We are aware that Mallorca's environment is our natural capital. Holidaymakers only come to the Baleares because of this nature," says the manager.
The element the Balearic Islands, politicians and committed tourism managers like BalcĂĄzar, have no influence on are the flights that holidaymakers take to the island, that are very harmful to the climate. According to the airport operator Aena[8], 29.7 million passengers and 217,218 take-offs and landings were registered in Mallorca in the last year before the 2019 pandemic. This year there should be about as many.
Source
dpa-infocom, Mallorcas Massentourismus soll grĂźn werden, in: SĂźddeutsche Zeitung, 9-11-2022, https://www.sueddeutsche.de/reise/tourismus-und-klimawandel-mallorcas-massentourismus-soll-gruen-werden-dpa.urn-newsml-dpa-com-20090101-221109-99-446915
[1] Ballermann is a typical German expression that you only hear and see in Mallorca. Ballermann is the name for the beach bar in S'Arenal and is located at Balneario number 6. Ballermann by extension has become the name for the entire area on the Balneario, a long road of more than 4 km long where about 15 beach bars have been built, all with their own theme and the motto drink a lot and party more.
[2] The Balearic Islands (Catalan: Illes Balears; Spanish: Islas Baleares) are an archipelago in the Balearic Sea, near the eastern coast of the Iberian Peninsula. The archipelago is an autonomous community and a province of Spain; its capital is Palma. The official languages of the Balearic Islands are Catalan and Spanish. Its four largest islands are Mallorca, Menorca, Ibiza, and Formentera. Many of its minor islands and islets are close to the larger islands, including Cabrera, Dragonera, and S'Espalmador.
[3] Tourism is booming worldwide - fantastic beaches and inexpensive city trips attract millions of tourists to the most beautiful places in the world every year. But in addition to the many glossy brochures, tourism also has its downsides: Overcrowded holiday resorts and the sometimes unrestrained construction of hotel complexes and infrastructure cause environmental pollution in many places and burden the population. On the other hand, if tourists stay away, this can drive a holiday region into financial ruin.
[4] On Tuesday 31-5-2022 the Balearic Parliament has approved a new Tourism Law, that is committed to circularity and sustainability. The law will allow the expansion in volume of hotels by 15% in exchange for a 5% reduction in the number of beds and even authorises the change of use of establishments so that they can be converted into homes. The new Law includes also a series of measures that will allow a more inclusive and sustainable economic growth, an improvement in coexistence between workers, residents and tourists, a more efficient use of resources, and a new boost to public-private collaboration, such as establishes the management of European funds. https://www.hosteltur.com/151768_el-parlament-aprueba-la-nueva-ley-de-turismo-de-baleares.html#:~:text=La%20ley%20permitir%C3%A1%20la%20ampliaci%C3%B3n,que%20puedan%20reconvertirse%20en%20viviendas.
[5] Bunyola is a municipality of the island of Mallorca, Spain, located in the spurs of the Serra de Tramuntana, at a distance of 14 km from Palma. The municipality has an area of 84.6 km2 and a population of 6,636 inhabitants, and the Ferrocarril de SĂłller passes through it on the way to Palma.
[6] One of the main actors in the preservation of biodiversity in the Balearic Islands has been the Grup Balear d'Ornitologia (GOB, the Balearic Ornithological and Nature Conservation Group). The GOB was created in 1973 and it is the main local conservation NGO and one of the strongest within Spain. https://www.gobmallorca.com/gob/about-us#:~:text=The%20Balearic%20Ornithological%20Group%2C%20GOB,-Since%20the%20mid&text=One%20of%20the%20main%20actors,of%20the%20strongest%20within%20Spain
[7] SchĂśrghuber Unternehmensgruppe (SUG) is a company owned by SchĂśrghuber Stiftung & Co. Holding KG (SHKG). It operates nationally and internationally in the fields of beverages, hotels, salmon farming and processing, construction and real estate.
[8] Aena Aeropuertos SA, commonly abbreviated to AENA (Aeropuertos EspaĂąoles y NavegaciĂłn AĂŠrea), is a Spanish company in charge of the management and development of airports in Spain. It also has interests in airports in Latin America and Great Britain. It also controlled air traffic control in Spanish airspace, but this has been spun off and comes under Enaire, a state-owned company that also controls the Spanish government's equity stake in AENA.
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Spend time with your family on these beautiful white sandy beaches
Mallorca is a true gem when it comes to beaches. From family beaches to dramatic rocky coves and quiet coastlines they all share the beautiful azure blue ocean that invites you in. Â
Puerto Pollensa - A shady boulevard and sandy beach  When itâs 30+ degrees the only thing you want is to make the most of the beach, enjoying a refreshing drink on a sun lounger while the kids build sandcastles. Luckily, Puerto Pollensa is only a short drive from the majority of our properties. This little town has a lovely sandy beach with shallow waters and a shady boulevard full of good quality eateries, shops, and cafes. You can rent many kinds of boats from pedalos and windsurfers to sailing dinghies, motorboats and even yachts! There are boat trips around the bay and to the Formentor Peninsula. Another big plus is the option to park close by the beach so you donât have to carry your towels for too long in the heat. The busiest part of the beach is from the marina towards the pine walks. If you would like to have a bit more space we would recommend to go in the opposite direction towards Alcudia where there are also a couple of playgrounds for children young and old.
Puerto Alcudia to Playa de Muro - For families The biggest, longest, flattest, and most comfortable white sandy beach is Puerto dâAlcudia to Playa de Muro. Â Often voted one of, if not the best beach in Mallorca, this stretch of sand is ideal for the whole family. The shallow waters, plenty of space, and lifeguards on the watch make it a great place for the little ones to run around, play in the sea and bury themselves up to their necks in the sand. For the rest of the family, there are comfortable sun loungers, lots of watersports activities, ice-creams to taste, and restaurants and cafes in every price range. Yes, this place is busy in summer but itâs so spacious that thereâs always enough space for you and your family.
Formentor Beach A beautiful spot, with a backdrop of pine forest and views to the mountains. After a spectacular drive along the Formentor Peninsula or by ferry from Puerto Pollensa youâll reach this beach. Itâs narrow and very popular so we recommend to either go very early or at the end of the day, but definitely worth a visit!
North East Cala Agulla
If you love to be surrounded by nature and want to explore further afield, we would recommend the spectacular white beaches of Cala Agulla. Approximately an hours drive from Pollensa, it is surrounded by stunning landscapes and only has little development. Itâs a great place to bring your own picnic or you can go for a stroll in the medieval town Capdepera or enjoy the buzz of Cala Rajada and on a clear day see right across the Balearic channel to Ciutadella, Menorca.
Travelled to Mallorca before? Let us know your best beach recommendations in the comments.
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Rent or Buy a Property and Finca in Mallorca? Nicolas Real Estate Group is a Best Choice
Mallorca attracts tourists of all ages and interests with its alluring combination of contemporary conveniences, cultural legacy, and scenic beauty. Mallorca has plenty to offer everyone, from the energetic capital city of Palma with its historical sites and chic atmosphere to the charming rural villages scattered around the region. Mallorca provides an incredible retreat, whether it's the stunning beaches, picturesque hiking routes, or world-class shopping and eating that entice you. By having the opportunity to customize your stay to fit your tastes and lifestyle, Rent Property in Mallorca allows you to explore the island like a local would.Â
Mallorca provides a wide variety of rental homes to suit every taste and budget, whether you're searching for a quaint house overlooking the sea, a rustic finca tucked away among olive fields, or a small apartment in the center of Palma. A rental property's location should be carefully considered, taking into consideration its closeness to amenities, attractions, and transit alternatives.Â
Select an area that fits your interests and priorities, whether you like the peaceful countryside, the vibrant city center, or the picturesque seaside. Mallorca offers a wide selection of rental homes, ranging from comfortable flats to opulent villas, so you may make priceless memories in an environment of unmatched natural beauty and cultural diversity.Â
Some Major Benefits of Renting Property in MallorcaÂ
Privacy and Comfort
Compared to more conventional lodging options like hotels or resorts, renting a house offers you privacy, space, and comfort. You can unwind, relax, and make lifelong memories in Mallorca when you have your own space, whether you're traveling alone, with family, or with friends.Â
Real Experience
Getting a Rent Property in Mallorca lets you escape the tourist throng and really immerse yourself in Mallorcan culture and daily life. Whether it's dining at neighborhood eateries or shopping at local markets, renting property allows you to interact with residents and gain insight into their everyday lives on the island.Â
Flexibility & ability
Renting a house gives you the ability to go wherever you want, whenever you want, in Mallorca. Whether your plans involve seeing picturesque towns on day tours, bouncing from beach to beach, or just lounging by the pool, having a home base gives you the freedom to create your own schedule and experience the island as you see fit.Â
Cost-Effective
For families or parties vacationing together, renting a house in Mallorca might be a financially responsible choice. Renting real estate instead of several hotel rooms is frequently less expensive when visitors split the expense of lodging, giving you more money to spend on other island experiences and activities.
Embrace Tranquility and Privacy: Find Your Perfect Finca Retreat in MallorcaÂ
Buy a Finca in Mallorca entails a number of procedures, including looking for and visiting properties, negotiating, doing due diligence, and closing. Learn about the laws, rules, and real estate market in your area so that you may go confidently through the purchasing process. To guarantee a successful and seamless transaction, collaborate closely with your financial institutions, legal counsel, and real estate agent.Â
The financing choices you have for buying a finca in Mallorca will depend on the particulars of the deal as well as your financial status. Examine the mortgage possibilities that Spanish banks and other financial organizations have to offer, keeping in mind things like interest rates, lending conditions, and qualifying requirements. To determine your finance requirements and obtain the best conditions for Buy a Finca in Mallorca, collaborate with a mortgage broker or financial counselor.Â
Whether you're tending to a garden, gathering your own produce, or just relaxing on your property, owning a finca offers a sense of contentment and a connection to nature that's difficult to find elsewhere. Savor leisurely meals al fresco, explore the island's stunning splendor, and immerse yourself in the rich culture and customs of Mallorca as you embrace the laid-back Mediterranean lifestyle.
#Buy a villa in Mallorca#Buy a finca in Mallorca#Buy a building plot on Mallorca#Buy Flat in mallorca#Buy property in a Mallorcan village#Invest in Mallorca#Rent Property in Mallorca#Rent Finca in mallorca#Villa at the Golf course#Buy Hotel in Mallorca
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Villa Mallorca (11-Bedroom Villa) This modern, luxury property is amongst the finest available for rent on Palm Jumeirah. Stylishly furnished, every detail has been taken care of to enhance the lifestyle for discerning tenants. As a signature villa on a popular Palm frond, it has a distinct style that has been further transformed with contemporary interior design touches.
Book Now! +971 55 242 9333
Visit :Â https://luxuryexplorerscollection.com/properties/Â
#luxuryexplorerscollection #dubai #travel #emirates
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5 Things You Need To Consider Before Buying A House
It is no secret that buying a new home - regardless of whether or not you are a first-time buyer or an experienced homeowner, is one of the bigger purchases you will make during your life. In fact, for most people, it is the most expensive purchase you will ever make. As a result, you must take in any information and advice you are offered, ensuring that you make smart decisions. Although sometimes finding your dream home can be difficult within itself, there are plenty of other things you need to consider ahead of time to set you on the right track. With that in mind, here are five things you need to consider before buying a house.Â
Photo by Precondo CA on Unsplashďťż
1. Can I pay back the mortgage?Â
Recent studies have shown that it takes the average person 15-30 years to pay off their mortgage loans. As a result, you need to ensure that you are both prepared and able to pay back any loans you take out - after all, you do not want to end up drowning in debt and missing payments as this will only lead to more problems. Therefore, it is important that you are realistic about the kind of mortgage you can afford. Ideally, your monthly repayments should amount to no more than 25% of your monthly income. This leaves you with plenty of money aside for savings, bills, and other necessities. Any higher and you could eventually struggle to meet the repayments. However, some lenders will allow you to pay higher increments if you have a strong credit score.
It is important that you research all of the different kinds of mortgages online ahead of time, ensuring that you meet the unique mortgage qualifications that are required of you. To qualify for a mortgage, a lender will require information regarding your credit history/credit score, your employment details, and your gross income. Once they have this information, they will be able to provide you with advice on which mortgage you should take.Â
Photo by Josh Appel on Unsplash
2. Consider the hidden costs.
Whilst it is important that you spend a considerable amount of time thinking about your mortgage, you also need to consider the other costs associated with moving home that are often overlooked. This can include:Â
Valuation fees of your previous home.
Renovation costs (of both the current property and the property you are moving to)Â
The cost of surveyors
Moving fees (Van hire, packing equipment, etc)Â
Furniture/Household items.
Whenever you are moving home, you must keep on top of your spending and ensure that you donât bite off more than you can chew financially. Establish a budget, that covers any and all costs you may encounter, then work to ensure that you meet it whenever possible. Staying on a budget can be difficult, but it is definitely worthwhile.Â
Photo by Mihail Ribkin on Unsplash
3. Explore the neighborhoodÂ
You may have spent several years fantasizing over your dream home and have thought about everything from how you will style your living room to the color you want to paint your front door. However, one thing that people often forget to consider is the area to which they are moving. Whether you are moving across the country, or to another part of the same city, you must get a good feel of the neighborhood you will be living in. After all, this is where you will be spending a large amount of your time. Therefore, you should take a look at what facilities are on offer, from cafĂŠs and restaurants to leisure activities, such as pools and movie theaters. This will allow you to understand whether or not this is the kind of place you want to live in, or if you have easy access to the things you need/things that interest you. If you have small children or are preparing to start a family of your own, you may also want to research the quality of schools in the area, ensuring that you help your little ones have the perfect start in life.Â
Photo by Roselyn Tirado on Unsplash
4. Think about ways you can save money.
As mentioned previously, buying a house is always going to be costly. Therefore, you need to be prepared to loosen your purse strings a little. However, when it comes to redecorating and furnishing your new home, there are several ways in which you can cut down the associated costs, without having to change your vision of the perfect home. Hereâs how.
Buy furniture second hand from thrift stores or online retailers. You can often get your hands on pre-loved items that are of excellent quality at a fraction of their original price. You can also find furniture on local Facebook groups.
DIY furniture wherever possible. After all, buying supplies is much cheaper than buying the furniture outright. It also means that you have items that are totally unique - and wonât find in somebody elseâs home.Â
Consider upcycling. This means that you can turn old items into something exciting and useful for your new home. For example, mason jars can be used for excellent kitchen storage.Â
Photo by Tierra Mallorca on Unsplash
5. Think about what you are leaving behind
We are always encouraged to look ahead, not behind us. However, it is important that when moving home, you also ensure that all of your previous affairs are settled. For example, if you are currently renting a property, you need to ensure that you give your landlord the appropriate notice period as stated on your contract. After all, you do not want to have to pay for a space you are not using on top of all of the other costs associated when moving.
Additionally, you also need to ensure that you cancel or change your postal address on any subscription services you are subscribed to - after all, you wouldnât want somebody else to receive goods that you are paying for. Furthermore, if you receive correspondence via the mail from work or your bank, you need to inform them of your change of address as quickly as possible. Similarly, you also need to ensure you register to vote in your new property, as your ballot may be associated with your previous address.
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treasure at tampines brochure
If you are looking for cheap Spanish villas, you can have a large number of options available to choose from. The general image one has while looking for a villa is that of a standalone property which stands on its own private plot of land. Most of the villa also has its own private pool and a country or sea view.
If you are an individual who likes to have your own space away from the hustle-bustle of a city, then it is better that you search for suitably located Spanish villas for that feeling of space. You must be flexible with regards to the locations and province that you want to buy your villa. Villas are cheaper in provinces such as Jaen, Lugo and Almeria. In places such as Mallorca and Cadiz, the cost of the villas is comparatively more expensive.
If you have the wherewithal and the patience to pursue a completely different tactic then you can consider building a villa yourself. It is eminently doable and there are hundreds of investors who have invested in plots for constructing Spanish villas of their choice. Given the fact that the prices of land in both rural and urban areas are plummeting, the time is just about right to buy some land of your own and construct a villa that will match all your requirements.
There are some issues here that need to be addressed properly. In the earlier days people used to construct the building first and apply for permissions later. Those days are well and truly over. treasure at tampines showFlat The laws are now stringent and inflexible. There is absolutely no scope for any adventurous streak. There are instances of people getting fined heavily and even villas and buildings being demolished because procedures were not followed.
Legal advice from experts in the field or from property lawyers can help you avoid legal tangles at a later stage. If you find the ideal location, a plot that suits your requirement in terms of size, view and convenience and complies with all legal requirements, then it is definitely a convenient option to construct your own villa instead of looking around for Spanish villas all around. The cost of constructing a villa must of course fit in your budget too.
Spain offers so many possibilities and in all its popular regions Club Villamar offers a carefully selected variety of rent villa Javea and villas Spain are among the most beautiful destinations for your holidays.
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That's exactly what you wanted to rent!
https://aiximmo.ch/en/listing/thats-exactly-what-you-wanted-to-rent/
Located 5 minutes from the shopping center Polygone Riviera , in the heart of greenery, splendid property that includes...
#SaintPaulDeVence - #Villa #frenchriviera #cotedazur #mallorca #marbella #sainttropez #sttropez #nice #cannes #antibes #montecarlo #estate #luxe #provence #immobilier #luxury #france #spain #monaco #realestates #immobilier #immobilien
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Income tax for non-residents who do not rent out their property (IRNR)
Imputed Income Tax FAQ
What is non-residents income tax?
As a non-resident property owner in Spain you will need to make an annual tax return in respect of the national letting value of the property, which is called Property Imputed Income Tax. Property Imputed Income Tax is a personal tax, and therefore is levied on each of the owners in proportion to their share of the property.
How is Imputed Income Tax Calculated?
The calculations use the rateable value (or valor catastral) as the base figure for the calculation. The taxable base is obtained from multiplying the rateable value by a percentage, following the below rules:
2% if the rateable value (Found on the IBI receipt) has not been revised since 1st January 1994.
1.1% if it has been updated since 1st January 1994.
In cases where the ratable value is not known, you can use the purchase price divided by two as the base value for the calculations. In this case, the coefficient applied will be 1.1%.
Once we have calculated the taxable base, the accrued tax is obtained multiplying this value by a percentage, which will be (as of 2016):
19% for EU citizens, Iceland and Norway
24% for non EU citizens
Example:
Property worth âŹ180,000 with a valuation set by the local government or, valor catastral, of âŹ110,928 updated in 2014 The tax amount to be lodged with the Tax Authority is âŹ110,928 x 1.1% x 24%: âŹ231.83
Complete instructions on how to calculate this tax can be found on the Tax Office Modelo 210 Instructions
I pay income tax in my country of residence, must I still pay this tax?
As Property Imputed Income Tax has no direct reference to actual income received, and instead pertains to a direct percentage of the rateable value of the property, it bears no significance to whether or not the property has been rented out, and in turn, therefore, any income received. At the moment there is a double tax treaty signed between the UK and Spain so any tax paid in Spain will act as a tax credit against the tax payable in the UK.Â
I have not made any income in Spain, so how can I be due income tax in Spain?
Due to the fact the Spanish tax authority assigns an income, or imputed income, or notional letting value to the property, a tax return has to be filed regardless to whether or not the property has been rented and to whether or not the owner has actually derived an income from the property.
What are the exact details of any fines for late payment of this tax?
Non-resident property owners in Spain who fail to pay on time their IRNR, this tax payment must be lodged with the tax office prior to the 31st of December of any fiscal year for payment of the previous fiscal year, are subject to firstly a late payment fine of between 5%-20% and further to which a 5% interest rate of the total amount. In addition to this late payers can expect to receive follow up letters from the Spanish tax office which are all independently priced and which can cost as much as âŹ72 per letter. In cases where non-payment has been identified, legal court action can be raised against the non-payer meaning further costs.
I was never told about this tax before when I bought the property, who is responsible/accountable for this?
Your lawyer should of informed you about this tax, however it is your responsibility as property owner to be aware of your fiscal responsibilities.
Do I need a Fiscal Representative to take care of this tax for me?
Hiring a fiscal representative is not mandatory to submit your imputed income tax return, not even if you own more than one property in Spain (a common misconception still very present among foreigners in Spain). However, most non-residents hire a fiscal representative to take care of filing in, paying and submitting the tax forms. Not only they avoid the hassle of having to go through this process themselves, they also benefit from the extra services included in the fee during a whole year.
What are your fees and responsibilities?
Our Fiscal Representation service is dealt with by a Fully qualified Licensed Tax Advisor and Accountant who covers any dealings with the tax office on your behalf for a whole year, including, but not limited to, the submission of your Imputed Income Tax 210 Forms.
Your fiscal representative will be in charge of receiving any notifications sent from the tax office, and replying within the required time to avoid costly surcharges and fines.
Our recommendation if you decide to shop around is that you ask this person or company exactly what their service includes. In our experience, you will likely be approached by someone who a) will charge you for helping you fill in the 210 forms, b) filling them for you and let you pay them, c) or perhaps will also pay them and submit them with the tax office. Will they also deal free of charge with the Tax Office in the event you are requested to provide further information on your property/ies, have submitted the tax late and receive a letter asking you to pay a fine, etc? It is very important also that you make sure this person or company is properly established and will not disappear one day leaving you in the dark as to what is going on with your taxes, whether they have paid and submitted your tax forms, or they've just run away with your money (unfortunately, it happens).
Our fiscal representation service has a fixed fee per year and 300 Euros plus IVA per return. We believe it is very reasonable priced for a whole year service, and if you compare it with similar services offered by other Law firms/Gestorias, probably under what our competitors charge in Mallorca.
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