Pro’s of owning an apartment in Javea
Not only is it easier to lock up and leave an apartment, the community look after the pool and garden! Ok, you have to pay for it, but you would in a villa too.
You’ll find that apartments also rent well during winter months and on that note; it’s cheaper to have a property maintenance company look after an apartment.
So, have the pros to owning an apartment in Javea persuaded you to buy one?
Where are the apartments in Javea?
Apartments in Javea are either close to the Old Town, Port or Arenal Beach, therefore near to most amenities and services!
Do all apartments have pools?
Javea old town and Port areas have older, more central quarters with apartment blocks that don’t have pool or garden facilities but these apartments tend to be bigger in size, offering more living space.
As these central quarters spread out, most of the newer, blocks on larger plots do have pools and gardens.
Do all apartments have parking?
Most re-sale apartments do sell with a private parking space.
If a space is not included in a sale, you can always ask the community or neighbours if somebody wants to sell or rent one.
Buying an apartment off plan, usually means you have to purchase a parking space separately if you want one.
Do all apartments have store rooms?
Most re-sale apartments do sell with private store rooms.
Store rooms are usually found either in the garage / basement or up on the roof terrace.
If a private store room is not included in a sale, again; you can ask the community or neighbours if somebody is selling or renting one.
What are the running costs of an apartment?
Yay! You’ve found an apartment to buy.
You know how much it will cost to buy but do you know how much it will cost to keep?
It’s a good idea to make calculations of how much regular and periodic bills for your new apartment will be, taking into account obvious bills like electric and water.
Property taxes
IRNR Non-resident income tax (Impuesto sobre la Renta de No Residentes)
A yearly tax applied to owners of Spanish property, even if they a non tax residents (not official residents of Spain).
Assuming no income is made from the property or is made on Spanish territory. Tax is calculated on the value of your villa at 24,75% of a given percentage of the cadastral value, between 1-2% depending on when the value was established.
For example: If the cadastral value of your villa is 200,000 euros, the IRNR would be 24,75% of 1% = 495 euros.
The exact value depends on your villa’s cadastral value which is shown on a rates (IBI) bill from Javea town hall or Suma in Benitachell and other areas.
IRPF Personal Income Tax (Impuesto sobre la Renta de Personas Físicas)
If you are a Spanish tax resident, in this case you have to pay the IRPF and file a tax return like a Spanish citizen, based on your annual income.
IBI tax for immovable real estate assets (Impuesto Sobre Bienes Inmuebles)
Resident or non-resident of Spain, everybody has to pay this property tax once a year, and in Javea it’s paid to the town hall.
It’s a yearly rates or council tax, calculated on the cadastral value which is usually below market value, and means you’ll pay in the region of 600-2500 euros per year for a villa and anywhere from 250-1000 euros for an apartment or townhouse belonging to a community.
Additional expenses for owning an apartment
Rubbish collection (Recogida de residuos sólidos)
Each property owner, whether you own a villa or an apartment, has to pay a contribution towards rubbish collection.
This is 125 euros per year in Javea.
There are payment schemes which can give you a small discount.
House insurance
Don’t forget to organise and calculate home insurance. Make sure it’s for home and contents; for any eventuality.
Spanish home insurance will be in the region of 180-400 euros a year, depending on the size and value of the property and its contents.
Call +34 966 461 643 now to compare your house insurance quote
Community charges & services
Are administered by independent administration companies, voted in by the residents.
Community administration companies oversee all maintenance, insurance and financial matters, for the building and complex.
Annual meetings are held for residents to make suggestions and vote together which services are to be kept or discarded.
Property administrator (Gestor)
If all the above is too much, whether you’re here full time or not, you can employ somebody to do all the necessary paperwork for you. Charged at around 100-150 euros a year.
Property management
A property manager will be your eyes and ears whilst you’re not here, and if you are here; they’ll keep your home clean, well maintained and in fully functioning order.
All Apartments For Sale
In Javea, Benitachell and Jesus Pobre. Including all penthouses, ground floors and duplexes.
