Estate Agents in Mallorca

Apartments in Palma start from around €200,000-400,000. Fincas inland from €500,000. Villas on the southwest coast €1-10+ million. Purchase costs (taxes, notary, registry) are approximately 10-13% of the price.

For resale properties, you pay ITP (Transfer Tax) of 8-13% depending on the price. For new builds, 10% IVA (VAT) applies. Notary and registry fees add approximately 1-2%.

Yes, you need an NIE (Número de Identificación de Extranjero) to purchase property. You can apply at the Foreigners' Office (Oficina de Extranjería) in Palma or at the Spanish consulate in your home country.

Yes, EU citizens can buy property in Mallorca without restrictions. Non-EU citizens need a NIE (foreign identification number). A specialised lawyer is recommended. Purchase costs amount to approx. 10-13% of the purchase price.

Prices vary greatly by location: Palma Old Town €5,000-10,000/m², southwest coast (Andratx, Port d'Andratx) €6,000-15,000/m², inland €2,000-4,000/m². Apartments from approx. €200,000, fincas from €500,000, luxury villas from €2M.

The most affordable properties in Mallorca are found in the island's interior, in towns like Manacor, Felanitx, Campos, or Llucmajor. Square metre prices there range from €2,000-3,000, while Palma, the southwest coast (Andratx, Calvià), or Port d'Andratx can cost €6,000-15,000 per square metre.

For buying property in Mallorca, you should plan for at least 30-40% of the purchase price as equity. Spanish banks typically finance non-residents up to 60-70% of the appraised value. Additionally, purchase costs of around 10-13% apply (transfer tax ITP 8-13%, notary, land registry, lawyer). An NIE number is mandatory for the purchase.