Specialist for Pto. Andratx & South-West
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Mallorca - Domizil
our Know-how for your benefit
last update: 1/2008
Running Costs:
Most running costs concerning the real estate will become due yearly or every six months, depending on what was agreed upon or the stipulated in the terms of payment. Refuse services are payable every six months and costs about 150,- to 250,- Euro. It might be advisable for home owners to contract a vermin exterminator. Yearly cost about: 150,- bis 300,- Euro. VAT tax on real estate (Impuesto sobre el valor añadido/ I.V.A.): The regulations are as follows: 16% VAT is payable on all purchases of restaurants, offices and warehouses as well as any real estate purchased from a VAT compulsory company. Any property that falls in the above category is also subject to judicial deed tax (Impuesto de actos jurídicos documentados) of 0.5%, which is payable the property administration office (Haciendas autonómicas). In the event of employing a construction company with building of one's house, only 7% VAT (I.V.A.) is payable. Renovation works, which do not involve the structure of the house are subject to 16 % VAT. When buying a new apartment from the builder, 7% is payable.

Mallorca Office: Pto. Andratx, C/ Esparaguera 20 - Urb. Can Borras •   Tel: +34 630 826 124   Privacy