Your Guide to Buying Real Estate in Mallorca
Mallorca, the largest of Spain's Balearic Islands, is more than just a holiday destination; it's a coveted location for property ownership. With its stunning landscapes, vibrant culture, excellent infrastructure, and year-round sunshine, it's no wonder that many visitors dream of calling this island home. Whether you're seeking a luxurious seaside villa, a charming finca in the countryside, or a stylish city apartment, Mallorca offers a diverse property market to suit every taste and budget.
Why Invest in Mallorca Real Estate?
Mallorca's appeal as a real estate investment destination is multi-faceted:
- Stable Market: The property market has shown resilience and steady growth, making it a sound long-term investment.
- High Demand: Strong international demand, particularly from Northern European buyers, ensures good liquidity.
- Quality of Life: Exceptional quality of life, with beautiful beaches, mountains, world-class dining, and outdoor activities.
- Accessibility: Excellent flight connections to major European cities, especially through Palma de Mallorca Airport.
- Rental Potential: Strong tourism provides excellent opportunities for rental income, particularly in popular areas.
Popular Areas for Property Investment
Mallorca offers a variety of regions, each with its unique character and property types:
Southwest Coast: Luxury and Lifestyle
The southwest is renowned for its upscale marinas, golf courses, and stunning sea views. Areas like Port Andratx, Santa Ponsa, and attract buyers looking for luxury villas, modern apartments, and easy access to Palma.
Palma and Surrounds: City Chic and Convenience
The island's capital, Palma de Mallorca, offers a cosmopolitan lifestyle with historic charm. Buyers here seek apartments in the old town, modern flats in new developments, or elegant townhouses. Surrounding areas like offer exclusive residential estates with golf courses and panoramic views.
Northwest: Tramuntana Charm
The dramatic Serra de Tramuntana mountain range, a UNESCO World Heritage site, dominates the northwest. This region, encompassing picturesque villages like Deià, Valldemossa, and Sóller, is perfect for those seeking tranquility, traditional stone fincas, and breathtaking mountain or sea vistas.
North and Northeast: Family-Friendly and Natural Beauty
The north, including areas around Pollensa and Alcúdia, is popular with families and those who appreciate natural beauty. Here you'll find traditional fincas, villas with large plots, and properties close to beautiful bays and the Cap de Formentor. The northeast offers a more rugged, less developed coastline with charming towns like Artà and .
Southeast: Authentic Mallorca and Beautiful Beaches
The southeast boasts some of Mallorca's most beautiful coves and beaches, such as Cala d'Or and Santanyí. This region offers a mix of traditional village houses, modern villas, and properties with easy access to charming fishing villages and nature parks.
The Real Estate Buying Process in Mallorca
Buying property in Spain involves several steps. It's highly recommended to engage independent legal counsel from the outset.
- Obtain an NIE Number: The Número de Identificación de Extranjero (Foreigner Identification Number) is essential for any financial transaction in Spain, including property purchase.
- Find a Property: Work with reputable real estate agencies (see below) or search online portals.
- Make an Offer & Reservation Contract: Once you find a property, make an offer. If accepted, a reservation contract (often with a small deposit) takes the property off the market for a limited time.
- Due Diligence: Your lawyer will conduct thorough checks on the property, including verifying ownership, ensuring it's free of debts or charges, checking building permits, and confirming its legal status.
- Private Purchase Contract (Contrato de Arras): This legally binding agreement outlines the terms of the sale, including the price, completion date, and a larger deposit (typically 10% of the purchase price).
- Public Deed of Sale (Escritura Pública de Compraventa): This is signed before a Notary Public, who ensures the legality of the transaction. The remaining balance is paid at this stage.
- Property Registration: After signing, the Notary registers the property in your name at the Land Registry, making you the official owner.
- Tax Payments: Various taxes are due after the purchase (see below).
Legal and Financial Considerations
Taxes and Fees
Beyond the purchase price, buyers should budget an additional 10-15% for taxes and fees:
- Transfer Tax (ITP): For resale properties, this ranges from 8% to 11% depending on the purchase price.
- VAT (IVA) & Stamp Duty (AJD): For new-build properties, VAT is 10% plus 1.5% Stamp Duty.
- Notary Fees: Variable, based on the property price.
- Land Registry Fees: Variable, based on the property price.
- Legal Fees: Typically 1% of the purchase price, plus VAT.
- Mortgage Costs: If applicable, additional fees for valuation, opening fees, and stamp duty on the mortgage deed.
Mortgages
Non-residents can obtain mortgages from Spanish banks, typically covering 50-70% of the property's valuation. It's advisable to speak with a mortgage broker or several banks early in the process.
Finding Your Dream Property: Real Estate Agencies
Working with a reputable real estate agency is crucial for a smooth buying process in Mallorca. Here are some of the leading agencies with a strong presence on the island:
Baxson S.L. is a licensed real estate agency with over 30 years of experience in the Spanish property market, specializing in residential and commercial sales across Mallorca's southeast coast and providing comprehensive support from property search to final registration.
Baxson S.L.
ONLY MALLORCA™ || The Finest Real Estate in Puerto Andratx is a pioneering luxury real estate agency in Puerto Andratx, blending deep local knowledge with innovative strategies to connect clients with exclusive properties and deliver seamless buying and selling experiences.
ONLY MALLORCA™ || The Finest Real Estate in Puerto Andratx
Inmobiliaria Inmovisa en Palma is a longstanding real estate agency in central Palma since 1979, adapting to sector changes and leveraging new technologies to provide expert management for buying and selling properties.
Inmobiliaria Inmovisa en Palma
Imperial Properties Inmobiliaria CB is a family-owned luxury real estate agency with over 35 years of experience, specializing in high-end properties across Mallorca's southwest and north regions with personalized client service. Riusech Estate Agents is a century-old family-run real estate agency specializing in exclusive property sales and rentals in northern Mallorca, known for luxury apartments, villas, and country homes.
Imperial Properties Inmobiliaria CB
Inmobiliaria en Palma de Mallorca - REGA International Realty is a luxury real estate agency in Palma de Mallorca, providing exclusive properties and comprehensive services supported by over 20 years of legal expertise for seamless transactions. Montfair Estates is a luxury real estate agency specializing in exclusive plots and high-end properties in Mallorca's most sought-after areas, offering personalized service for buyers and sellers.
Inmobiliaria en Palma de Mallorca - REGA International Realty
Private Property Mallorca - WE LISTEN - Luxury Real Estate in Mallorca is a luxury real estate agency dedicated to listening to clients' needs and providing tailored services for buying and selling high-end properties across the island.
Private Property Mallorca - WE LISTEN - Luxury Real Estate in Mallorca
APART BALEAR - Real Estate Agent Group is a unique association of experienced real estate agents in the Balearic Islands, specializing in the largest selection of apartments for sale and rent with expert local advice.
APART BALEAR - Real Estate Agent Group
one mallorca is a real estate agency offering a diverse portfolio of properties in prime locations across Mallorca, focusing on personalized client service for sales and rentals.
one mallorca
Luxury Estates Mallorca ® - Christie's International Real Estate is the exclusive affiliate of Christie's International Real Estate on Mallorca, offering a curated selection of luxury villas, fincas, and apartments with expert market knowledge.
Luxury Estates Mallorca ® - Christie’s International Real Estate
Redhawk Real Estate International Mallorca is an experienced real estate consultancy firm in Palma de Mallorca, providing comprehensive support for buying, selling, and managing properties with a focus on client trust.
Redhawk Real Estate International
Engel & Völkers Palma Centre Mallorca is a premium real estate agency in central Palma, offering personalized services for buying, selling, and renting luxury properties with deep local market expertise.
Engel & Völkers Palma Centre
Inmobiliaria Sa Marina Mallorca is a dynamic real estate agency in Inca, offering personalized services for buying, selling, and renting properties across Mallorca with a focus on client satisfaction.
Inmobiliaria Sa Marina
RE/MAX Calm Inmobiliaria Mallorca is a trusted real estate agency in Pollensa, part of the global RE/MAX network, providing expert services for buying and selling properties with local and international expertise.
RE/MAX Calm Inmobiliaria Mallorca
Inmoclau's - Servicios Inmobiliarios Mallorca is a real estate service in Inca offering property sales and rentals with a focus on local market knowledge.
Inmoclaus - Servicios Inmobiliarios
GestPropiedad Ciudad Jardín Mallorca is a comprehensive real estate agency in Palma, offering expert services for buying, selling, and managing properties with a focus on client needs.
GestPropiedad Ciudad Jardín
Foravila Rentals - Lloguers Vacacionals a Mallorca is a Mallorca-based agency specializing in holiday villas and apartments rentals, also offering property sales with local expertise.
Foravila Rentals · Lloguers Vacacionals a Mallorca
NICOLAS MESSIAS Real Estate Mallorca is a professional agency in Inca specializing in property sales and rentals throughout Mallorca with a focus on client satisfaction.
NICOLAS MESSIAS Real Estate
Inmogest Mallorca Real Estate is a specialized agency in Inca providing comprehensive real estate services including sales, rentals, and management with professional expertise.
Inmogest Mallorca Real Estate
Domus54 real estate Mallorca is a trusted real estate agency in Sa Pobla, specializing in property sales and rentals with a focus on client service and local knowledge.
Domus54
Fincas Mallorca Charme is a travel and real estate agency specializing in charming fincas and villas for rent and sale across Mallorca.
Inmobiliaria Fincas Mallorca - Venta y Alquiler Pisos Palma. Experto Inmobiliario.
Inmocharme Muro Mallorca is a local agency in Muro providing personalized real estate services for buying and selling homes and plots.
Inmocharme Muro Mallorca
Inmobiliaria Riera & Taylor Mallorca is an experienced agency in Manacor offering a wide range of properties for sale and rent in eastern Mallorca.
Inmobiliaria Riera & Taylor
Engel & Völkers Sóller - Real Estate Agent is a leading real estate agency in Soller, specializing in high-end properties with expert local knowledge.
Engel & Völkers Sóller - Real Estate Agent
Sandberg Estates | Luxury Real Estate in Mallorca is a boutique luxury real estate agency in Mallorca, specializing in exclusive properties with personalized service.
Sandberg Estates | Luxury Real Estate in Mallorca
Agencia Inmobiliaria Mallorca [ RH Real Estate Mallorca | Raquel Hernandez ] is a woman-led agency in Palma providing trustworthy services for buying, selling, and renting properties.
🥇 Agencia inmobiliaria Mallorca | RH Real Estate Mallorca | Raquel Hernandez
One of the most prominent international real estate agencies in Mallorca, known for its extensive portfolio of luxury properties across the island. They offer a wide range of villas, fincas, apartments, and plots.
Engel & Völkers Real Estate Inmobiliaria Pollensa, Mallorca
A well-established local agency specializing in Mallorca real estate, Porta Mallorquina provides a comprehensive service with a large network of offices across the island, catering to diverse property needs.
Porta Mallorquina
Part of the prestigious global network, Balearics Sotheby's International Realty focuses on the luxury segment of the market, offering exclusive properties and a personalized service to discerning clients.
Spain Sotheby's International Realty - Mallorca
Kensington Finest Properties International Mallorca offers an exquisite portfolio of luxury properties, specializing in high-end villas, fincas, and apartments across the island's most sought-after locations.
Kensington Finest Properties International
As a leading real estate agency, First Mallorca provides a broad selection of quality properties, from charming village houses to modern frontline villas, backed by extensive local market knowledge.
First Mallorca Palma
Living Blue Mallorca specializes in unique and authentic properties, particularly in the central and southwest regions, offering a personalized approach to finding your ideal home or investment.
Living Blue Mallorca - Alaró
Moscari Finca Service is renowned for its selection of traditional fincas and country homes, providing expert guidance for those looking for rural charm and tranquility in Mallorca.
Moscari Finca Service S.L.
Taylor Wimpey España, while primarily a developer, also acts as a real estate agency for its new-build properties, offering modern apartments and villas in prime coastal locations.
Taylor Wimpey Spain
Essential Tips for Buyers
- Engage Independent Legal Advice: Always use a lawyer who is independent of the real estate agent or seller to protect your interests.
- Factor in All Costs: Remember to budget for taxes, fees, and potential renovation costs in addition to the purchase price.
- Visit Off-Season: While beautiful in summer, visit Mallorca during the quieter months to get a true feel for the local life and climate.
- Understand Rental Potential: If you plan to rent out your property, research local rental regulations and potential income.
- Location, Location, Location: Consider your lifestyle needs – do you prefer bustling city life, serene countryside, or proximity to beaches and amenities?
Conclusion
Buying property in Mallorca is a significant investment that promises not just a beautiful home, but a gateway to an unparalleled lifestyle. With careful planning, professional guidance, and a clear vision of your dream property, you can successfully navigate the market and secure your slice of Mediterranean paradise.
Mentioned in This Guide
Explore all the locations mentioned in this guide on the map below.
Palma
Palma, Balearic Islands, Spain
Sóller
07100 Sóller, Balearic Islands, Spain
Pollença
07460 Pollença, Balearic Islands, Spain
Cala d'Or
Cala d'Or, Balearic Islands, Spain
Deià
07179 Deià, Balearic Islands, Spain
Alcúdia
07400 Alcúdia, Balearic Islands, Spain
Santanyí
07650 Santanyí, Balearic Islands, Spain
Valldemossa
07170 Valldemossa, Balearic Islands, Spain
Port d'Andratx
07157 Port d'Andratx, Illes Balears, Spain
Artà
07570 Artà, Balearic Islands, Spain
Palma de Mallorca Airport
Llevant de Palma District, 07611 Palma, Balearic Islands, Spain
Santa Ponça
one mallorca
Passeig Illetes, 2, Primera planta Local 7, 07181 Cas Català, Illes Balears, Spain
APART BALEAR - Real Estate Agent Group
Cami des Comellar, 07157 Port d'Andratx, Illes Balears, Spain
Private Property Mallorca - WE LISTEN - Luxury Real Estate in Mallorca
Gran Via Puig des Castellet, 1, Bloque 6, Local 1, 07180 Santa Ponça, Illes Balears, Spain
Inmobiliaria en Palma de Mallorca - REGA International Realty
Calle Isla de Malta, 13, Platja de Palma, 07007 Palma, Illes Balears, Spain
Imperial Properties Inmobiliaria CB
Avinguda del Rei Jaume I, 111, Local 5, 07180 Santa Ponça, Illes Balears, Spain
Inmobiliaria Inmovisa en Palma
Carrer del Baró de Pinopar, 14, bajos, Centre, 07012 Palma, Illes Balears, Spain
ONLY MALLORCA™ || The Finest Real Estate in Puerto Andratx
Carrer Cristófol Colom, 3, 07157 Port d'Andratx, Illes Balears, Spain
Baxson S.L.
Avinguda de Cala Llonga, 323, 07660 Cala D'or, Illes Balears, Spain
🥇 Agencia inmobiliaria Mallorca | RH Real Estate Mallorca | Raquel Hernandez
Carrer del Ter, 12, 2º Piso, 3º Puerta, Levante, 07009 Palma, Illes Balears, Spain
Sandberg Estates | Luxury Real Estate in Mallorca
Carrer Garcilaso de la Vega, 1, Local 5, 07181 Portals Nous, Illes Balears, Spain
Engel & Völkers Sóller - Real Estate Agent
Carrer de Bauçà, 4, 07100 Sóller, Illes Balears, Spain
Inmobiliaria Riera & Taylor
Rambla del Rei en Jaume, 5, 07500 Manacor, Illes Balears, Spain
Inmocharme Muro Mallorca
Comunes de Can Oliver, 1d, 07440 Muro, Illes Balears, Spain
Domus54
Rda. Albufera, 54, local 3, 07420 Sa Pobla, Illes Balears, Spain
Inmogest Mallorca Real Estate
Carrer des Hostals, 60, 07300 Inca, Illes Balears, Spain
NICOLAS MESSIAS Real Estate
Mallorca, Carrer de Can Dureta, 28-30, 07300 Inca, Illes Balears, Spain
Foravila Rentals · Lloguers Vacacionals a Mallorca
Foravila Rentals, Carrer de Madó Buades, 12, Local 4, 07420 Sa Pobla, Illes Balears, Spain
GestPropiedad Ciudad Jardín
Carrer del Cardenal Rossell, 26, Platja de Palma, 07007 Palma, Illes Balears, Spain
Inmoclaus - Servicios Inmobiliarios
Avinguda d'Alcúdia, 36, 07300 Inca, Illes Balears, Spain
RE/MAX Calm Inmobiliaria Mallorca
Carrer d'Alcúdia, 2, 07460 Pollença, Illes Balears, Spain
Inmobiliaria Sa Marina
Avinguda d'Alcúdia, 159, 07300 Inca, Illes Balears, Spain
Engel & Völkers Palma Centre
Carrer Constitució, 7, Centre, 07001 Palma, Illes Balears, Spain
Redhawk Real Estate International
C/ de la Concepció, 28C, Centre, 07012 Palma, Illes Balears, Spain
Luxury Estates Mallorca ® - Christie’s International Real Estate
Ctra. des Port, 118, Local 3, 07157 Port d'Andratx, Illes Balears, Spain
Engel & Völkers Real Estate Inmobiliaria Pollensa, Mallorca
Via Pollentia, 20, 07460 Pollença, Illes Balears, Spain
Porta Mallorquina
C. del Conquistador, 8, Centre, 07001 Palma, Illes Balears, Spain
Spain Sotheby's International Realty - Mallorca
Carrer de Can Puigdorfila, 2, Bajo pt 02, Centre, 07001 Palma, Illes Balears, Spain
Kensington Finest Properties International
Calle Conquistador N°8 bajo, Distrito Centro, 07001 Palma, Illes Balears, Spain
First Mallorca Palma
Pg. de Mallorca, 10, Centre, 07012 Palma, Illes Balears, Spain
Living Blue Mallorca - Alaró
Plaça de la Vila, 13, 07340 Alaró, Illes Balears, Spain
Moscari Finca Service S.L.
Carrer des Pou, 1, A, 07316 Moscari, Illes Balears, Spain
Taylor Wimpey Spain
C/ Aragó, 223, Llevant, 07008 Palma, Illes Balears, Spain
Inmobiliaria Fincas Mallorca - Venta y Alquiler Pisos Palma. Experto Inmobiliario.
