{"id":393,"date":"2026-03-19T14:44:43","date_gmt":"2026-03-19T14:44:43","guid":{"rendered":"https:\/\/www.balearic-properties.com\/living\/?page_id=393"},"modified":"2026-09-18T20:04:13","modified_gmt":"2026-09-18T20:04:13","slug":"buying-property-in-mallorca","status":"publish","type":"page","link":"https:\/\/www.balearic-properties.com\/living\/buying-property-in-mallorca\/","title":{"rendered":"Buying Property in Mallorca"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Buying Property in Mallorca<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Buying property in Mallorca can be a complex process, especially for international buyers. Unlike in some countries, Spain does not have a centralized property database or uniform regulation of real estate agents, so professional guidance is essential for a safe and secure purchase.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Working with an experienced local agent gives you access to a wide range of properties in areas such as Palma, Calvi\u00e0, Andratx, or Alc\u00fadia, as well as support throughout the entire process, from property search to signing the final deed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. Making a Purchase Offer<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Once you have chosen a property, the first step is to submit a written offer, usually through a real estate agent.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is common to accompany the offer with a deposit (\u20ac6,000\u2013\u20ac20,000) as a sign of interest. If the seller accepts, a private contract (contrato de arras) is signed, where approximately 10% of the purchase price is paid.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The typical timeframe for signing the final deed before a notary is 30 to 45 days.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Recommendations:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Make a realistic offer based on market value<\/li>\n\n\n\n<li>Clearly define what is included in the sale (furniture, equipment, etc.)<\/li>\n\n\n\n<li>Hire a lawyer to review all documentation<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">2. Purchase Process<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The standard process includes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Property reservation (\u22481% of the price)<\/li>\n\n\n\n<li>Signing the private contract (\u224810%)<\/li>\n\n\n\n<li>Signing the public deed before a notary<\/li>\n\n\n\n<li>Registering the property in your name<\/li>\n\n\n\n<li>NIE (Foreigner Identification Number), mandatory for all foreign buyers in Spain<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Residency<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Residency is not required to buy property, but it is necessary if you plan to live in Spain for more than 183 days per year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. Purchase Costs and Taxes<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Total costs generally range between 10% and 12% of the purchase price.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>New Property:<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>VAT: 10%<\/li>\n\n\n\n<li>Stamp Duty (AJD): ~1.5% in the Balearic Islands<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Resale Property:<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Transfer Tax (ITP): 8%\u201311% (depending on property value in the Balearics)<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Other Costs:<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Notary and Registration: ~0.5%<\/li>\n\n\n\n<li>Lawyer: ~1%<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">4. Annual Property Taxes and Expenses<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>IBI (Property Tax):<\/strong> Depends on cadastral value and municipality<\/li>\n\n\n\n<li><strong>Community Fees:<\/strong> For maintenance of shared areas in urbanizations<\/li>\n\n\n\n<li><strong>Garbage Tax:<\/strong> Mandatory municipal fee<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">5. Taxes for Non-Residents<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Non-resident owners must pay the Non-Resident Income Tax (IRNR):<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>If not renting:<\/em> calculated on imputed income (1.1%\u20132% of cadastral value)<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Rate: 19% (EU residents), 24% (non-EU residents)<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><em>If renting:<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>EU: 19% on net income<\/li>\n\n\n\n<li>Non-EU: 24% on gross income<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Conclusion<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Buying property in Mallorca is an excellent investment and a chance to enjoy one of the most exclusive areas of the Mediterranean. However, it is crucial to work with professional advisors\u2014both a real estate agent and a lawyer\u2014to ensure a secure, transparent process with no surprises.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Buying Property in Mallorca Buying property in Mallorca can be a complex process, especially for international buyers. Unlike in some countries, Spain does not have a centralized property database or uniform regulation of real estate agents, so professional guidance is essential for a safe and secure purchase. Working with an experienced local agent gives you [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":14,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_yoast_wpseo_focuskw":"","_yoast_wpseo_title":"Buying Property in Mallorca: Guide for International Buyers %%sep%% Balearic Properties","_yoast_wpseo_metadesc":"A practical guide to buying property in Mallorca, from choosing an area and making an offer to legal checks, taxes, financing and completion.","footnotes":""},"class_list":["post-393","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Buying Property in Mallorca: Guide for International Buyers - Balearic Properties<\/title>\n<meta name=\"description\" content=\"A practical guide to buying property in Mallorca, from choosing an area and making an offer to legal checks, taxes, financing and completion.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.balearic-properties.com\/living\/buying-property-in-mallorca\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buying Property in Mallorca: Guide for International Buyers - 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