Menorca Property For Sale
Area Guide
At just 50km wide, the island of Menorca lies only 25 miles from its larger neighbour Mallorca but remains altogether more quiet and unspoiled - particularly the northern coast which is rugged and picturesque with many small bays - and has rolling green landscape and golden sandy beaches. It is almost completely unspoilt and has a very welcoming, relaxing atmosphere. The island is ideal for anyone looking for a quieter location in lovely surroundings away from nightclubs and commercial resorts. The south of the island is slightly more built up to meet the demand of both holiday and Menorca property buyers, and many beautiful villas in Menorca can be found at prices a little lower than comparable properties on the island of Mallorca.
The only real mountain on the island is Mount Toro, which has a monastery at its peak and is well worth visiting. There are fiestas during the year from January to September. The restaurants and bars offer a wide range of dishes from traditional Menorcan cuisine to Italian, Chinese and international gastronomy.
There is one golf course on Menorca which was opened in 1977 but has recently been extended to 18 holes to the designs of Dave Thomas who also designed The Belfry in the UK. The course is located near Son Parc in the north of the island. We market a number of Menorca villas near the golf course.
The main urbanisations of the island are Mahon (boasting one of the world's largest natural harbours), es Mercadal, Ciudadela (the old capital), Port d'Addaia, Fornells, Alaior and Sant Luis. Mahon, the capital of Menorca, has an attractive mixture of local and colonial architecture, built on a hill overlooking the port, with a good selection of shops and bars in the town centre. The area around the harbour really comes alive in the evenings, when dozens of restaurants and pavement cafes open giving the port a very special atmosphere. The fishing village of Fornells in the north and its surrounding beaches are a must to visit for lovers of sea food. The small village has a natural harbour and is popular with yachts. We have villas in Menorca in many of the popular and also more forgotten corners of the island.
The main road bisects the island east to west from Mahon to Ciudadela. The airport, though small, is modern and situated to the south of Mahon in the south east of the island. Flights from the UK and elsewhere make owning one of our villas in Menorca convenient and cost-effective when travelling to and from your holiday home.
The whole of Menorca has been declared as a 'Reserve of the Biosphere' for its surprising bird population and its prehistoric monuments, some of which date back 4000 years. The island is rich in bird and plant life making it an ideal location for bird watching or rambling along many of the coastal footpaths. Menorca has many rough tracks which are the only access to quiet and remote spots - ideal for exploration by mountain bike. The climate is variable, with strong winds at times especially on the north coast. The summer months May to September are mostly warm, dry and sunny. Our villas in Menorca allow you the freedom to sample the lovely weather and environment at your leisure.
Buying a Property in the Balearic Islands
1. Putting down a Holding Deposit
On finding a property you wish to purchase you will need to negotiate the terms, price and conditions of the sale with the owner. This part of the process is not binding. We would recommend using an independent English speaking legal advisor. Once a purchase price has been agreed, normally a holding or reserve deposit will be required to ensure the property is removed from the market. The sum required will vary between properties and will be based on the purchase price. A time limit for the preagreement to be signed will be arranged and there will also be legal checks to be made.
2. Setting up a Pre-agreement (Contrato privado de compraventa)
The pre-agreement will set out the conditions under which the Buyer and Seller agree to complete the purchase of the property and the price they have agreed upon. Relevant details will generally be included for example the property details, purchase price and the date for completion. A deposit will be required at this point, this will vary, but will generally be 10% of the agreed price. This agreement will include a penal clause if the sale does not go through. If the seller pulls out of the sale your compensation will be double the deposit you have paid, but if you decide not to go through with the sale then your deposit will be lost. Certain checks will need to be made before signing the contract, checks should be made against the title of the property, mortgage status and if the property has any debts held against it. The planning status should also be looked into. These conditions can be varied by the seller and the buyer and other types of agreement can be made.
3. The Contract (Escritura de compraventa)
Before a non-Spanish purchaser can buy a Spanish property they will need to have set up a Spanish bank account and obtained a Spanish tax number (NIE). The completion will take place in the presence of a Notary Public. This is a Spanish public official, by law the deed of sale must be witnessed by a Notary Public. You will also need your own independent, expert legal advisor to act on your behalf. On Completion the buyer must pay the balance, that is the price agreed after the deposit has been deducted, plus any other fees on the completion date. Both buyer and seller must sign the Escritura de compraventa contract, (this is the Spanish equivalent of the title deeds). The title deeds (escritura) will be given to the buyer, this will be done in the presence of a Notary Public, they will certify that the transfer has taken place. The tax office will be sent a copy and the property registry will be informed of the transfer.