Are you keen on investing in property, but not sure where to buy? Here are five reasons why buying property in Spain at the exclusive Sotogrande resort could be worth considering 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 for investing in property. But since the government increased Additional Buyer’s Stamp Duty (ABSD) rates on residential property in April this year, it’s no longer looking so appealing for many. Foreigners have shouldered the brunt of the increases, with stamp duty on any purchase jumping from 30 percent to a whopping 60 percent! For Permanent Residents and locals, the stamp duty on a second residential property has risen from 25 to 30 percent.
Property in Spain, on the other hand, is a haven for investors. The low stamp duty, or AJD as it’s referred to there, is only 1.2 percent (in Andalucía). In addition, there’s a VAT (IVA in Spanish) of 10 percent for new build properties or a transfer tax of 7 percent for resale. This makes Spanish real estate a very attractive investment for foreigners living in Asia.
#2 The location
Sotogrande sits on a spectacular 20-square-kilometre stretch of the southern coast of Andalucía, Spain. A lifestyle retreat in the sophisticated Costa Del Sol, it enjoys the benefits of all-year-round sunshine, unspoiled beaches, easy international accessibility and a low cost of living. It was first developed in 1962 as the dream of Filipino-American businessman and WWII US Army veteran Joseph McKicking. He wanted to recreate a much-loved childhood holiday community. Sixty years later, it’s evolved into a thriving residential estate focused on families and healthy living.
#3 The lifestyle
The vision at Sotogrande is for owners to spend their summer days relaxing and rejuvenating in understated luxury. It’s a place to enjoy life exactly as it should be enjoyed.
To facilitate this goal, the estate is designed to offer a vast array of leisure activities. For example, it’s home to three of the best international championship golf clubs in Spain, including the number-one ranked golf course in Spain, Real Club Valderrama and La Reserva Club. It also boasts a tennis and padel centre, a polo club, a series of beach clubs, swimming pools and even a lagoon for water sports lovers at the heart of the hills. The marina is the spot to moor your boat and alight for a day of shopping at the eclectic boutiques. And you can also wine and dine the night away at one of the many lively bars or restaurants.
#4 The properties
Set on breath-taking natural parkland, there’s a wide range of exclusive residential properties available to suit varying budgets. Whether you’re after an open-plan two-bedroom apartment set amongst beautiful natural countryside, a five-bedroom penthouse, or a private luxury villa crafted by world-renowned architects that maximise the sparkling views over the Mediterranean, there’s an attractive array of properties to choose from.
#5 Investing in property to retreat, rent or relocate
The beauty of buying property at Sotogrande lies in its versatility. Great equally as a holiday home to create yearly memories with your family, or as an investment as a rental property, either way, it’s an appreciating asset. And, if you decide to relocate your family permanently to Spain, there’s an excellent IB international school, established health infrastructure, and the peace of mind afforded by living within a private community. It’s investing in property, made easy!
Find out more at sotogrande.com.
Now you have the low-down on buying property in Spain, why not check out some travel destinations?
This article first appeared in the October 2023 edition of Expat Living. You can purchase the latest issue or subscribe, so you never miss a copy!
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