Mallorca Real Estate – Exclusive Villas, Houses & Apartments

Prices vary depending on location, size and features. Studios start from around €250,000, apartments from around €400,000, and houses in good locations from around €900,000. In premium locations like Andratx or Son Vida, prices for exclusive houses and villas often range from 2.5 to 15 million euros – with no upper limit.

When purchasing an existing property, transfer tax (ITP) of 8–13% applies. For new builds, it is 10% VAT plus 1.5% AJD. Notary and registry fees (1–2.5%) and legal costs also apply. In total, you should budget approximately 10–15% in additional costs.

Yes, a NIE (Número de Identificación de Extranjero) is required for any property purchase in Spain. This tax identification number for foreigners can be obtained through a gestoría or tax advisory firm in Spain, or at a Spanish consulate in your home country. We are happy to assist you with this process.

The buying process begins with the property search and viewings. Once an agreement is reached, a reservation contract (known as an option contract) is typically signed with a deposit of usually 10%. It is important to ensure that this deposit is paid into a notary's escrow account – never to the estate agent and preferably not directly to the seller. A lawyer reviews all legal documents. This is followed by the notarial deed (Escritura Pública) and registration in the land registry. The entire process typically takes 6 to 12 weeks.

Yes, Spanish banks grant mortgages to non-residents. Typically, up to 60–70% of the purchase price is financed, and up to 80% for residents. Loan terms usually range from 15 to 25 years. You will need proof of income, tax returns and a NIE number. We are happy to connect you directly with a Spanish bank or a mortgage advisory firm that works with multiple banks.

Annual costs include the property tax IBI (0.3–1.1% of the cadastral value), waste collection fees (approx. 100–400 EUR depending on the municipality), home insurance and, where applicable, community charges for residential complexes. Non-residents are also subject to income tax on the deemed rental value (approx. 0.5% of the cadastral value).

Mallorca offers stable value appreciation and strong rental demand, especially during the tourist season. For holiday letting you need an official tourist rental licence (Licencia Turística). Gross rental yields vary between 3 and 6% depending on location. In the long term, owners also benefit from the island's continuous capital growth.

The most sought-after regions include the southwest (Andratx, Port d'Andratx, Camp de Mar) for exclusive villas, Palma for urban living, the west coast (Sóller, Deià) for charm and nature, and Calvià (Santa Ponça, Bendinat) for families. Each region has its own character — we are happy to advise you on the right location.