What taxes will be payable on the villa after I have bought it?

There are taxes that are payable for services, similar to Council Tax in the UK. In addition there is a wealth tax on property.
Full details can be obtained for specific villas from the relevant Council via your solicitor or the professional advisors (see buying a Signature Estates Villa).

What protection will I have should the building have any defects?

Signature Estates takes a rigorous approach to the construction and inspection process. The team of professionals undertake weekly site visits and site meetings throughout the construction process. In addition, all Signature Estates villas have a ten year insurance-backed warranty.

How do I maintain the villa when I am not on the island?

There are numerous companies offering maintenance services for owners of villas. In addition to these companies Signature Estates can offer a management and maintenance service for their completed projects. This service is a bespoke package tailored to the clients requirements.

Is it possible to include the gardens in the maintenance plan?

Yes. The gardens of Signature Estates villas are carefully designed to compliment the architecture of the villa and as such are central to the enjoyment of the villa. A full garden maintenance service can be arranged if required throughout the year.

How do we maintain the swimming pool?

The maintenance of the swimming pool is very important. During a stay at the villa owners can have regular pool checks undertaken to ensure the safety of the water is maintained. At other times of the year periodic maintenance at a lower level is appropriate and can be included in the villa management contract.

What are the running costs of the villa likely to be?

Obviously the running costs will vary at different times of the year and be dependent on the occupancy.  If clients would like to have a projected running cost profile prepared for a specific villa this can be arranged by request.

How much will it cost to furnish the villa?

It is frequently the case that purchasers of villas on Mallorca will wish to either fully furnish or partially furnish their villas. In order to assist clients in this process, Signature Estates have established contacts with several specialist interior design companies on the island who will offer professional services and guidance regarding furnishing villas.
Please see Interior Design for further details.

Is it possible to have my villa prepared prior to my arrival and cleaned after my visit?

Yes. As with the maintenance services numerous companies offer this service at varying levels to suit the clients requirements. The range of services can range from a simple clean and preparation service through to a fully stocked fridge, wine delivery and even chefs to cook meals!
On departure a full clean and laundry service is possible.
Signature Estates can provide this service if required.

How do I arrange buildings and contents insurance?

These can be arranged via your bank or directly with insurance companies. Advice can be given by the Signature Estates advisors (see Buying a Signature Estates villa).

Will I be able to rent my villa to third parties when I am not using it?

In theory this is possible however there are numerous obligations that must be met. It is appropriate to discuss this option with one of the main property agents who handle property rental (see Kuhn and Partner).
It is also a subject that should be discussed with your professional advisors on the island or the advisors listed under Buying a Signature Estates Villa on the link below.

How secure will my investment be?

It is obviously impossible to project forward the exact value of any property at a point in the future. It is however worth reflecting on the historic evidence of property values on the island which have shown a healthy increase.
In a recent survey the Financial Times identified Mallorca as the fifth most attractive location for property investment in the world.
The quality of the design and the locations should ensure a degree of security for owners.

For information on buying a Signature Estates villa - click here

 

 

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Frequently Asked Questions
Mallorca, Sa Torre