Property for Sale in Mallorca

For a resale property, the purchase costs are usually around 10 to 13 % of the purchase price, for a new build around 13 %. The largest item for resale is the transfer tax ITP, for a new build IVA plus AJD. Notary, Registro and lawyer come on top. The percentages apply without financing. Buying Costs When Purchasing Property in Mallorca

For a resale property the ITP is 8 % up to €400,000, 9 % up to €600,000, 10 % up to €1,000,000, 12 % up to €2,000,000 and 13 % above that, each only on the portion within the band. The scale applies regardless of the buyer's nationality and residence. New builds from a developer are instead subject to 10 % IVA plus 1.5 % AJD, 2 % from €1 million. ITP and Property Transfer Tax on Mallorca

Yes, as a buyer you sort out the NIE early in the process. It is the identification number for foreigners with economic interests in Spain and is needed for the bank and the notary appointment. You apply with form EX-15 and the fee Modelo 790, Código 012. Appointments are scarce, so allow several weeks. Buying Property in Mallorca: The Process Step by Step

The purchase leads from the search profile through reservation, legal checks and the arras contract to the notary appointment. There buyer and seller sign the deed of sale (Escritura pública de compraventa), the price is paid and the keys are usually handed over. Afterwards, for resale properties the ITP generally has to be filed within one month of signing the contract. The land registry generally processes the deed within 15 working days of submission, provided the tax payment is proven. Notary Appointment and Property Transfer in Mallorca

Yes, Spanish banks also finance non-residents, usually more conservatively than buyers who are permanently tax resident in Spain. Typical guide values are around 60 to 70 % of the lower of the purchase price and the bank valuation (Tasación). Depending on the bank, profile, property and income it can be higher or lower. Financing and Mortgages in Mallorca

Running costs include the IBI (the property tax, based on the cadastral value, generally between 0.4 % and 1.10 % for urban property), the Comunidad, insurance, utilities, upkeep and reserves. As a rough guide (empirical values) that is €4,000 to €12,000 per year for a well-located apartment and €15,000 to €50,000 for a villa with pool, garden and management, in each case without renovations and financing costs. Non-residents also pay income tax (IRNR) every year, even without renting out. Ongoing Costs After Buying a Property in Mallorca

Yes, as soon as you rent a residential property to tourists for stays of up to 30 nights, you need an ETV registration, which you file by DRIAT with the Consell de Mallorca. In 2026 new licences exist only for detached houses, terraced and semi-detached houses and, as ETV60, for the main residence, and only through purchased places. Flats in multi-unit buildings are closed to new registrations (as of October 2026). Holiday Lettings and the ETV Licence in Mallorca

That depends on how you use the property and on daily life. The southwest with Port Andratx, Camp de Mar, Santa Ponça and Sant Elm stands for sea views, harbours, short distances to Palma and international buyers. Palma and Son Vida offer the densest year-round infrastructure, while buyers looking for more quiet and space tend to find it in the centre of the island, the east and the Tramuntana. Regions of Mallorca Compared