Mallorca’s stunning landscapes, Mediterranean climate, and vibrant culture make it one of Europe’s most sought-after property markets. Whether you’re searching for a holiday home, permanent residence, or investment property, this comprehensive guide walks you through the entire buying process — plus how our agency supports you every step of the way with exclusive access to thousands of properties, both on and off market, and expert in-house development advice.
Before starting your property search, secure your NIE (Número de Identificación de Extranjero) — a required tax ID for all property purchases in Spain. You can get it at a Spanish consulate or in person at a local police station.
Work with our experienced agency to explore a wide range of Mallorca properties, including exclusive off-market listings. Narrow down your ideal location, budget, and property type, and benefit from expert advice tailored to your lifestyle and investment goals.
While some buyers appoint a lawyer before finding a property, many choose to do so once they’ve identified a property of interest. We help connect you with trusted bilingual lawyers and mortgage advisors who specialize in Mallorca real estate to ensure a smooth, secure purchase.
In Mallorca, reserving a property with a small deposit (often €5,000 to €10,000) is common but not mandatory. Some buyers instead enter directly into a private purchase contract by paying a 10% deposit as an option agreement or down payment. We clarify all options so you understand the implications and can decide what best suits your needs.
This contract sets out the sale’s terms, conditions, timeline, and payment schedule. At this stage, a 10% deposit is typically paid to secure the purchase.
The final step is signing the title deed (escritura) in front of a notary public. Once the remaining balance is paid, ownership officially transfers to you. Your lawyer will then register the property in your name at the Land Registry.
Transfer Tax (ITP): 8%–11.5% on resale properties, based on purchase price.
VAT (IVA) & Stamp Duty (AJD): For new builds, typically 10% VAT + 1.5% stamp duty.
Legal Fees: Usually 1%–1.5% of purchase price.
Notary and Land Registry Fees: Approximately 0.5%-1%.
Mortgage Fees: Variable, depending on lender and loan amount.
Wealth Tax (Impuesto sobre el Patrimonio): Applicable if your total net assets in Spain exceed certain thresholds (varies by region and residency status). Your lawyer or tax advisor can provide personalized guidance.
Ongoing Costs: Annual property tax (IBI), community fees, insurance, utilities, and maintenance.
Exclusive Access: Thousands of listed and off-market properties across Mallorca.
Trusted Network: We introduce you to vetted, bilingual lawyers, mortgage brokers, tax advisors, and other specialists.
In-House Development Team: Offering advice on renovations, permits, and investment potential.
Transparent Guidance: Explaining all contracts, legalities, taxes, and financial implications.
Multilingual Support: From your first inquiry through to handing over the keys.
Contact us today to access exclusive listings, get expert advice, and let our dedicated team guide you seamlessly through buying your dream home in Mallorca.
