Frequently Asked Questions
Are you thinking about buying or selling a property on Mallorca? In this section, I answer the most common questions based on real-world experience. If you need further assistance, I am always available to help you personally.
Important Information About the Real Estate Market on Mallorca
Buying or selling property on Mallorca differs in many ways from the German real estate market.
From legal specifics and tax aspects to typical local procedures, there are numerous topics that buyers and property owners should be familiar with. Below you will find answers to frequently asked questions about real estate on Mallorca.
Information About Buying Property on Mallorca
What are the advantages of Mallorca as a real estate location?
Mallorca has been one of Europe’s most sought-after real estate destinations for many years. The island combines a Mediterranean lifestyle, a pleasant year-round climate, a high quality of life, and excellent international accessibility.
Properties close to the sea, high-end villas, modern apartments, and traditional fincas in the countryside are particularly in demand.
Do I need a NIE number as a buyer in Spain?
Yes, foreign buyers require a so-called NIE number (“Número de Identidad de Extranjero”) in order to purchase property on Mallorca. This serves as a Spanish tax identification number and is mandatory for all notarial and tax-related procedures.
Is a Spanish bank account required?
A Spanish bank account is not legally mandatory, but it is highly recommended in practice. It significantly simplifies the handling of purchase payments, taxes, and ongoing expenses.
How does a typical property purchase on Mallorca work?
After selecting a property, a reservation agreement is often signed first, through which the property is temporarily removed from the market for a short period.
This is usually followed by a private purchase contract (“Contrato de Arras”), where a deposit is paid and both parties legally commit to the purchase or sale.
The process is finalized before a Spanish notary with the official transfer of ownership.
What is the difference between a reservation agreement and an Arras contract?
On Mallorca, there are two standard steps to take before the appointment with the notary:
Reservation Agreement
- Short-term reservation of the property
- Payment of a reservation fee
- Property is removed from the market
- Preparation of the purchase process
Contrato de Arras (Deposit / Preliminary Contract)
- Legally much more binding
- Buyer usually pays a 10% deposit
- Contractual penalties apply in case of withdrawal
- Often the most important stage before the notary appointment
Why is legal due diligence especially important on Mallorca?
Before purchasing, ownership structures, land registry entries, possible encumbrances, and building permits should be carefully reviewed.
An independent lawyer ensures that the entire purchase process is legally secure and transparent.
What additional costs should be expected when purchasing?
In addition to the purchase price, ancillary acquisition costs arise on Mallorca, particularly:
- Property transfer tax (ITP) for resale properties
- VAT (IVA) for new developments
- Notary and land registry fees
- Legal fees
- Potential financing costs
The total amount depends on the property and purchase price.
Do you also assist with organizational matters related to the purchase?
Yes, I not only support my clients with the property search, but also assist, if desired, with lawyers, financing, bank accounts, insurance, craftsmen, and all organizational steps on Mallorca.
Information About Selling Property on Mallorca
How is the real estate market on Mallorca developing?
Mallorca is considered one of the most stable and internationally sought-after real estate markets in the Mediterranean region. High-quality properties in prime locations continue to experience consistently strong demand.
When is a good time to sell property on Mallorca?
Demand exists throughout the entire year. However, the market is often particularly active during spring and autumn, when many prospective buyers are on the island.
Why is professional marketing in Mallorca so important?
The Mallorca real estate market is highly international and strongly visually driven. A high-quality presentation, professional photography, and a targeted marketing strategy are crucial for a successful sale.
Which documents are required for a property sale?
Typically, the following documents are required:
- Land registry extract
- Energy certificate
- Cadastral documents
- Certificate of habitability
- Proof of taxes and ongoing expenses
Which taxes apply when selling property on Mallorca?
When selling, capital gains tax and the municipal capital gains tax (“Plusvalía”) may apply.
For non-residents, an additional 3% of the purchase price is withheld as an advance tax payment.
Is an exclusive sales mandate advisable?
Exclusive marketing enables a clear strategy, high-quality positioning, and better market presence.
On the other hand, multiple listings through too many agents can weaken the property’s perception in the market.
How do you support property owners when selling on Mallorca?
I personally guide property owners through the entire sales process — from market analysis and marketing to negotiations and the notary appointment.
The goal is a discreet, structured, and successful transaction at the best possible sales price.
Are discreet off-market sales also possible?
Yes, upon request, the property can be offered completely discreetly without public marketing. In this case, the transaction is handled selectively through qualified buyers from my network.