Costs, Taxes & Financing
Realistically plan ancillary purchase costs, ongoing costs, taxes and financing when buying property in Mallorca.
7.1 The Total Cost of a Property in Mallorca
What international buyers of high-quality property in Mallorca should realistically budget for, beyond the purchase price, to buy and to own.
7.2 Buying Costs When Purchasing Property in Mallorca
Which one-off costs buyers should realistically budget for when purchasing a resale property or a new build in Mallorca, with worked examples.
7.3 ITP and Property Transfer Tax on Mallorca
How Spanish property transfer tax is calculated on Mallorca, when ITP applies instead of IVA, and the role of the Valor de Referencia.
7.4 Ongoing Costs After Buying a Property in Mallorca
Which annual and monthly costs international buyers should realistically plan for after the notary appointment.
7.5 Taxes for Non-Residents Owning Property in Mallorca
What owners without Spanish tax residence should know about IRNR, Modelo 210, personal use and letting.
7.6 Wealth Tax and Larger Real Estate Assets
When the Spanish Wealth Tax and Solidarity Tax for Wealthy Mallorca Buyers Become Relevant.
7.7 Financing and Mortgages in Mallorca
How international buyers plan a Spanish mortgage, which documents banks review, and why Tasación, equity, and liquidity reserve are crucial.