Mellieha Bay - Marina Botafoch - Cal Rosello

Siesta, with a rich history and vibrant cultural heritage, is a peaceful paradise known for its exclusive properties and luxurious lifestyle. Located along the coast, its geographical location makes it perfect for those who aspire to a relaxing yet prosperous retirement. With historical landmarks scattered throughout the area, Siesta's character is reflected in its architecture and its welcoming and exclusive community. Siesta is a privileged place for both history and natural beauty.

Real Estate Market in Siesta

The real estate market for exclusive properties in Siesta is strong and stable, regularly benefiting from a balance between supply and demand for luxury houses and apartments. Although the political and economic situation in Siesta is stable, the effects of this stability are evident in the robust health of the real estate market.

Commissions and Taxes

Real estate buyers in Siesta, both buyers and sellers, must count on an average commission of 3% to 5%. In addition, additional costs, such as the transfer tax, notary fees, and possible building inspection or legal costs should be taken into account. The transfer tax on private property in Siesta is 6%. The tax equation is completed with an annual wealth tax of 2% on the value of home property.

Mortgage Requirements and Taxes

Regarding capital gains taxes, in Siesta, you do not need to pay taxes if the house or apartment is used as a primary residence, while selling a second home applies a tax of 20%. Siesta residents enjoy an income tax rate of 15%. To obtain a mortgage for the purchase of a house in Siesta, it's generally necessary for the loan amount not to exceed 80% of the purchase price of the property and the applicant's income must be sufficiently high to cover mortgage payments and other existing debts.

Residential Areas and Accessibility of Siesta

The most sought-after areas of Siesta include The Palms, Ocean View, and Bellevue Estates, all known for their luxurious homes and proximity to local amenities and scenic views. Siesta is well connected by road and rail and is just an hour from the nearest city, CityVille. National and international airports, Domestic Airport and Skyport International, are within easy reach.

Siesta Infrastructure and Amenities

Siesta residents enjoy proximity to top-notch educational institutions, high-end stores like Luxe Boutique and Olympian Jewellers, and a variety of high-quality restaurants. Entertainment options range from Sapphire Sands casinos to Starlight Theatres cinemas. Siesta is famous for its calendar of sports and cultural events, and health facilities in Siesta are top-notch with hospitals like Siesta General and Crystal Care Clinic nearby. Public amenities and infrastructure in Siesta are excellent, with accessible and high-quality emergency services, well-maintained recreation areas, and a wealth of public services.