Should You Buy a House in Mallorca?
Deciding when and where to buy a property abroad is a big step. Whether you’re looking for a city penthouse or countryside retreat, there are similar factors to think about. We’ve put together a guide to help you decide whether buying a house in Mallorca is right for you.
Is Mallorca right for me?
If you’ve come to Mallorca on holiday, then you’ll know how special the island is. With its Mediterranean climate, easy transport links, and range of restaurants and bars, it makes for a fantastic destination.
However, if you’ve only visited briefly, you might not have realized quite how eclectic the island truly is. As a resident, there’s always something new to explore, year-round.
Mallorca is the largest of the Balearic Islands, with over 200 beaches and coves to explore. But beaches aren’t the only special thing Mallorca has to offer its residents. From little mountain towns tucked away in a UNESCO World Heritage Site to the lively city of Palma, life here is what you make it.
To rent or buy in Mallorca?
If you’re considering renting, you can find long-term rentals around Mallorca. Renting in an area you like might give you a deeper insight into life on the island. On the other hand, you may find that settling into Mallorcan life is even more enjoyable when you can adapt your own home to be just how you like it.
You also need to take into account your timeline, budget, and financial plans.
If you’re considering buying, but aren’t quite sure where, take a look at our comprehensive area guide.
Which type of property are you looking for?
Thanks to its beautiful landscape, Mallorca boasts a wide range of properties. Below, you can find a quick summary of the most popular types:
Traditional Mallorcan townhouses tend to be in residential areas. Many retain their facades but have renovated interiors that blend traditional and modern living.
Mallorca has its share of beautiful villas, both traditional and newly built. Many come with a private pool, scenic views, and spacious interiors.
A finca is a countryside home, often in rural Mallorca. They usually boast plenty of outside space, with landscaped gardens, a pool, terraces and plenty of privacy. You may also find extra guest houses and luxury comforts.
Apartments and penthouses
Usually found in larger towns or the capital, Palma, Mallorcan apartments come in all shapes and sizes. Whether you’re looking for views over a bustling port or city centre living, the island’s apartments and penthouses have a lot to offer residents.
When people think of Mallorca, they might imagine traditional stone-clad villas and fincas. While this is true of many properties, the island also boasts beautifully designed, newly built gems that incorporate contemporary designs. Architects might weave natural materials through the interiors, build around stunning views…the options are endless.
To find out more, browse our latest collection.
Working with a trusted estate agent
Buying a home abroad is much less daunting when you work with local, trusted experts. Finding the right estate agent means you can focus your search on the right areas, feel confident that you’re in good hands, and have access to the best properties.
After all, they know the local market, speak the language, and understand where to find the best properties for your needs.
A few things to think about when buying a house in Mallorca
Planning and zoning
Zoning laws are strict in Mallorca, and this is particularly relevant for countryside living. If you are looking to buy, build, or renovate a rural property, it is very important to take a look at whether the plot is correctly zoned for residential living.
Tourism is a large part of Mallorca’s economy, which makes it an attractive option for holiday lets. However, properties need to be granted a license (called an ETV) before they can be rented out to tourists. Only certain properties are eligible. So, if your heart is set on offering holiday lets, why not choose a property that already comes with the license?
Residency and visas
There is no one-size-fits-all solution to residency when buying a property in Spain. Your situation will dictate what you need to do. However, there are various options, so make sure you speak with an expert and do your research well in advance. You may even be eligible for a special permit or visa.
To find out more about buying in Mallorca, have a look at our insights or browse our properties.
At Balearic Properties, we’re the trusted associates of Savills in Mallorca. We bring our local expertise to buyers and sellers across the island.