3 minute read
Are you interested in investing in property, but not sure where to buy? Here are five reasons why it might be worth considering purchasing a property in Spain in the exclusive resort of Sotogrande from a lifestyle, location and financial perspective. Low stamp duty is just the beginning!
#1 Low stamp duty when buying property in Spain
With its low interest rates, Singapore has long been considered a good place to invest in property. But since the government increased Buyers’ Additional Stamp Duty (ABSD) rates on residential properties in April this year, it no longer looks as attractive to many. Foreigners have borne the brunt of the increases, with stamp duty on any purchase jumping from 30 per cent to a whopping 60 per cent! For permanent residents and locals, stamp duty on a second residential property has increased from 25 to 30 per cent.
Property in Spain, on the other hand, is an investor’s paradise. The low stamp duty, or AJD as it is known there, is only 1.2 percent (in Andalusia). Additionally, there is a 10 per cent VAT for new-build properties or a 7 per cent transfer tax for resale. This makes the Spanish real estate sector a very attractive investment for foreigners living in Asia.
#2 The location
Sotogrande is located on a spectacular 20 square kilometer stretch of the southern coast of Andalusia, Spain. A lifestyle retreat on the sophisticated Costa del Sol, enjoy the benefits of year-round sunshine, pristine beaches, easy international access and a low cost of living. It was first developed in 1962 as the dream of Filipino-American businessman and World War II U.S. Army veteran, Joseph McKicking. He wanted to recreate a much-loved children’s holiday community. Sixty years later, it has become a thriving development focused on families and healthy living.
#3 The lifestyle
The vision in Sotogrande It is for owners to spend their summer days relaxing and rejuvenating in discreet luxury. It is a place to enjoy life exactly as it should be enjoyed.
To facilitate this objective, the estate is designed to offer a wide range of leisure activities. For example, it is home to three of Spain’s best international championship golf clubs, including Spain’s number one golf course, Real Club Valderrama and La Reserva Club. It also has a tennis and paddle tennis center, a polo club, a series of beach clubs, swimming pools and even a lagoon for water sports lovers in the heart of the hills. The marina is the ideal place to moor your boat and enjoy a day of shopping in the eclectic boutiques. And you can also drink and dine the night away in one of the many lively bars or restaurants.
#4 The properties
Located in a stunning natural park, there is a wide range of exclusive residential properties available to suit different budgets. Whether you are looking for a two-bedroom open-plan apartment set amidst beautiful natural landscape, a five-bedroom penthouse or a luxury private villa designed by world-renowned architects that maximizes spectacular views of the Mediterranean, there is an attractive variety of properties to choose from.
#5 Invest in properties to retire, rent or relocate
The beauty of buying a property in Sotogrande lies in its versatility. Excellent both as a vacation home to create annual memories with your family, and as an investment as a rental property; Either way, it’s an appreciating asset. And if you decide to move your family permanently to Spain, you’ll have an excellent IB international school, an established healthcare infrastructure, and the peace of mind that comes with living in a private community. It’s investing in properties, made easy!
Get more information at sotogrande.com.
Now that you know everything about buying property in Spain, why not take a look at some travel destinations?
This article first appeared in the October 2023 issue of Expat Living. You can buy the latest issue or subscribeso you never miss a copy!
Plus, to make the most of life in Singapore, read our latest city guide. here free!
