Please be aware, that this wonderful opportunity to own your own property in Mallorca, comes with the following restrictions.
Firstly, these are VPO “Vivienda de Protección Oficial” apartments, which means, they are state funded.
Fortunately, both Spanish and foreign residents can take advantage of this opportunity to buy a VPO apartment, which will appear in the property register as a “Registo de la Propiedad”.
The purchase of these properties, are subject to the following requirements:
– You have to be resident in the Balearic Islands for at least one year.
– You must not own a Spanish property.
– Your gross income, may not exceed 54,000 euros (individual)
or 73,000 euros for (2 people) per year.
We are now able to offer you this fantastic VPO New Build project comprising 38 subsidized apartments in Cala Bona. There are 13 x ground floor, 13 x 1st floor and 12 x 2nd floor apartments available. The Development is located in a quiet area, very close to local beaches.
The ground floor, first and a second floors have two main entrances and a basement with underground car parking spaces.
The completion is planned for the end of 2024.
The popular resort town of Cala Bona was once a fishing village, where the langoustine catch, was the most important source of income.
Originally, the natural harbour was the only real attraction of this coastal town, however, with the increase in tourism from the 1960s, Cala Bona has developed into an attractive travel destination, including many new hotel chains, cafes, bars and restaurants.
Cala Bona benefits from its central location along the East Coast, close to other popular towns and many sandy white beaches.
The completion at the end of 2024 will include the following;
* Energy rating, class A
* Solar units for power supply the communal areas
* Quality building materials
* Thermal insulation
* Double glazed windows with sun protection
* Aluminum windows
* Spacious, bright bedrooms
* Stylish and functional bathroom, equipped for comfort.
* Terrace, enjoy nature from your own private terrace / balcony
* Parking, each residential unit has a private parking space
(underground car park or outdoor parking space)
* Storage room, additional storage space of approx. 9 m2
* Kitchen and living room, have open plan design, to maximize use of
* Air conditioning hot/cold, using heat pumps, ensures a pleasant
temperature for all seasons.
All purchase prices are subject to10% VAT.
Additional purchasing costs are approx. 1.5% stamp duty plus 2% for Notary costs.
A construction phase, payment plan is available.
Starting with a 1% reservation fee and incase of cancellation, the total amount of the fee will be refunded.
Option contract requires a10% + IVA deposit at purchase.
After the next 6 months – another payment of 5% + IVA is required, followed by another 6 monthly – payment of 5% + IVA.
This 20% of the purchase price, has to come from your personal funds. The remaining 80% balance, which has to be paid upon signing transfer of ownership at the Notary, could be completely financed by the banks.
Three banks are currently offering mortgage that are subject to status.
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