Besides of being a place to live, being an owner of an estate can also be a possible investment for several other reasons, included when you want to count with the potential of the net value of a property.

The purchase of an estate is since ever the best rentable and the safest investment. It is a well-chosen decision to invert in Almería for a multitude of factors, such as the important boom in the area and the fact that tourism has gained a substantial importance during the last years.

Almería coast is one of the most diverse coast areas of the whole Spanish coast. There are lot of regions that are still unexploited and therefore there are not yet developed. Almería benefits of a privileged climate and is the place with the most hours of sun a year and that makes it to the perfect holiday resort for all those who want to enjoy the quality of its beaches and services in exceptional surroundings. These are the reasons why little and big important investors have chosen Almería as their destination, because they saw the big potential and the excellent profitability that this province has given and will continue to give with its development of the future, such as the creation of several golf courses, hotels, commercial centres, Olympic villages such as the one in El Toyo or Roquetas de Mar, etc…

Once you have chosen a residence, you will have to pay a deposit. Normally the amount you have to pay vary in between 3000 € and 6000 €. This amount will be discounted from the total price afterwards. This operation should be written down in a private document, into which both situations are stipulated. This private contract is known as “el c ontrato de arras o señal”.

The costs and taxes that you have to pay buying a residence under construction are :

Taxes

•  El I.V.A ( Impuesto sobre el Valor Añadido ): This tax (7%) you only have to pay when you buy a residence under construction. In case that you buy a building plot, a commercial local, an office or parking spaces, this tax will be 16%.

•  El ITPAJD: Impuestos sobre transmisiones Patrimoniales y Actos Jurídicos Documentados : Every time you underwrite for example a notary's document you will have to pay this tax. En general the amount is about 1% of the residence's value.

•  El Impuesto sobre el Incremento de Valor de los Terrenos de Naturaleza Urbana (Plusvalía) This tax is a municipal tax that you have to pay to impose the revaluation of the residence since the last transmission and that has to be paid out at the seller.

Costs

•  Notary costs to write up the public contract of sale. The amount depends on the price of the residence and on the number of pages that are used for the contract of sale.

•  Property registry costs to inscribe the public contract of sale. In order to inscribe the contract of sale, you should give the original of the contract together with the receipts of the payments of the corresponding taxes.

The costs and taxes that you have to pay buying a second hand residence are:

Taxes

•  Impuesto sobre Transmisiones Patrimoniales . The amount will depend on the price of the residence that is stipulated into the public contract of sale. If you buy a second hand residence normally you will have to pay 7% of this price. In some conditions, for example if the buyer doesn't reach the age of 35, the I.T.P. can be reduced to 3, 5%.

•  El Impuesto sobre el Incremento de Valor de los Terrenos de Naturaleza Urbana (the so called “Plusvalía”): Impose the revaluation of the residence since the last transmission. The quantity is calculated applying a percentage of the difference in between the value of the residence before the previous transmission and the value of the residence now.

As a general rule you should expect that the total amount of costs and taxes will be 10% approx. of the value of the residence.