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La Torre Golf Resort forum threads
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26 Feb 2007 12:00 AM by Mikenmandy Star rating in Dewsbury, Yorkshire .... 232 forum posts Send private message

Mikenmandy´s avatar

Can anyone give me a rough idea of any monthly, or annual for that matter, costs for an apartment on La Torre? Polaris costs, electric, water, TV etc , especially any hidden costs that PW might spring on us that we haven't thought about

Thanks in advance

Mike



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02 Mar 2007 3:06 PM by ColatLT Star rating. 118 forum posts Send private message

In my own planning I have allowed the following as a ‘rough estimate’ of ANNUAL RUNNING COSTS (in Euros) for my own particular circumstances for an APARTMENT property with a value of 200,000 euros.


Spanish Taxes
Local Property Tax (IBI) (0.3% of 200,000) 600
Deemed Income Tax (25% of (2% of 200,000) 1000
Property Wealth Tax (200,000 * 0.2%) 400
Tax Accountant Filing 150
2150

Property Costs - minimum
Basic Keyholding / Management of Property 200
Communal Charges 1400
Utilities Standing Charges 150
Building & Contents Insurance 100
1850

......TOTAL MINIMUM 4000 euros........

Property Costs - additional

Golf Fees - as used
Polaris World Club Membership (alternative)

Utility charges - as used
Internet Charges - as used
Outgoing Telephone - as used

Rental - Public Liability Insurance
Rental - Property Management/Advertising
Rental - Cleaning/Laundering
Rental - Income Tax (25%)

(Villa’s or Townhouses may have additional costs (e.g. gardening or pool services etc))

Note: Obviously everyone’s costs (especially taxation) could differ depending on circumstances (e.g Resident/Non-Resident etc). I do not claim that it is extensive and covers everything, but hopefully I have included most of the main costs which will be incurred. I have used ‘reasonable’ estimates where no true figures are available.
I am not an accountant or a taxation specialist. Information from Internet or books.


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