Project Land for sale with Development Potential in Ciutadella de Menorca, Menorca
Its prime location, just a few metres from the sea, offers a rare chance for those wishing to create a luxury home, as well as for investors seeking to develop a high-end project.
Currently, the property features a house in need of complete renovation, offering vast potential to reimagine and transform the space into a truly unique property. Moreover, the size of the plot allows for the demolition of the existing house and the construction of up to four independent two-storey villas, each with a maximum occu...
Its prime location, just a few metres from the sea, offers a rare chance for those wishing to create a luxury home, as well as for investors seeking to develop a high-end project.
Currently, the property features a house in need of complete renovation, offering vast potential to reimagine and transform the space into a truly unique property. Moreover, the size of the plot allows for the demolition of the existing house and the construction of up to four independent two-storey villas, each with a maximum occupancy of 50% and a height of 7m (ground floor plus first floor), ensuring a flexible and highly attractive development opportunity.
The surrounding environment is unmatched: a tranquil residential neighbourhood, characterised by luxury homes and tree-lined streets.
The proximity to the coastline adds immense value, making this plot an ideal retreat for those who appreciate peace and privacy, with immediate access to the beach and with sea views.
More than just a piece of land, this plot offers a rare opportunity to to bring to life a project that combines contemporary design, luxury, and harmony with the natural surroundings.
Whether for a family residence or the creation of exclusive villas, this property offers the perfect canvas for those seeking the best that Ciutadella has to offer.
An unparalleled investment opportunity in Ciutadella's most exclusive area.
181m2 built.
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Where is this property?
This Land is located in Ciutadella de Menorca in Balearic Islands
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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.