Real Estate

Incidental purchase costs for real estate in Mallorca

Published

3 years ago

18 de March de 2023

Mallorca Blog Kaufnebenkosten Immobilien

If you want to buy a property in Mallorca, it is important to be aware of the additional costs that may be incurred beyond the purchase price. Here are some of the most important incidental costs of buying real estate in Mallorca:

Real estate transfer tax: The real estate transfer tax is levied by the Balearic government and is currently around 8% of the purchase price (the exact rate you can calculate staggered, and this goes from 5-13%).
Notary and land registry fees: Notary and land registry fees are charged for the notarization of the purchase contract and the registration of the property in the land register. The cost varies depending on the purchase price, but expect about 1-2% of the purchase price.
Attorney Fees: It is recommended that you hire an attorney to review the purchase agreement and other documents to make sure everything is in order. The cost of an attorney varies, but expect to pay about 1% of the purchase price.
Real Estate Agent Commission: When you hire an agent to find a property, sometimes there is an agent’s commission. However, it is common in Spain that the seller pays these costs.
Value added tax (IVA): In the case of new buildings, a value added tax of 10% is levied on the purchase price instead of the land transfer tax.
Energy certificate: When selling a property, an energy certificate must be available (this is usually also paid by the seller). The cost of this varies depending on the size and type of property, but expect to pay around 200-300 euros.

It is important to note that this is only a rough estimate of costs and that actual costs may vary depending on the circumstances and type of purchase. It is advisable to consult an experienced solicitor and estate agent to assist you in estimating the incidental purchase costs and in completing the purchase.

Interesting

What does the everyday life of an estate agent in Mallorca look like?

Published

1 year ago

21 de April de 2025

luxcaz

News

Real estate market in the southeast of Mallorca 2024-25

Published

2 years ago

21 de September de 2024

luxcaz

The real estate market in the southeast of Mallorca 2024-25 is dynamic and full of opportunities. The region offers impressive nature and culture, which is attracting more and more international buyers. Places such as Cala d’Or, Santanyí, Ses Salines, Felanitx, Portocolom and Cas Concos play a central role in this.

Cala d’Or: Properties here are particularly sought-after due to the picturesque bays and the exclusive marina. Prices are rising steadily as buyers prefer the luxury villas and vacation properties.
Santanyí: With its authenticity and historic center, it is a hotspot for buyers looking for tranquility and tradition. The weekly market and cultural offerings make Santanyí an attractive choice.
Ses Salines: Known for its salt production and beaches such as Es Trenc, this town attracts nature lovers looking for properties close to the beach.
Felanitx: The village is famous for wine-growing and traditional festivals. It offers cheaper real estate compared to the coastal towns.
Portocolom: A quiet fishing village with a natural harbor, it attracts buyers looking for exclusive but less touristy locations.
Cas Concos: A hidden gem in the interior, ideal for people who prefer peace and seclusion.

The real estate market in these regions is benefiting from sustainable construction projects, increasing internationality and the focus on smart homes and environmental friendliness.

Interesting

“The ultimate Mallorca real estate guide: Discover the attractive real estate market in Pollença!”

Published

3 years ago

17 de November de 2023

Sasha Rusnak

The Golden Paradise: The real estate market in Pollença

Welcome to a picturesque corner of the island of Mallorca, where every day brings new adventures and opportunities. Pollença not only offers an enchanting ambience, but also a variety of properties ranging from rustic farmhouses to luxurious villas.

Presentation of Pollença

With its narrow, winding streets and beautiful, sun-kissed stone buildings, Pollença exudes an incomparable old-fashioned charm. This village in Mallorca has a rich history that dates back to Roman times and can be clearly felt in every corner of the village. The surrounding landscape consists of breathtaking mountains, fertile valleys and fantastic beaches, making this paradise a perfect place to live and invest.

Real estate in Pollença

The real estate market in Pollença is both diverse and dynamic. From traditional townhouses and rustic fincas to modern apartments and luxurious villas – in Pollença you will find all kinds of properties.

Property prices in Pollença vary depending on the location, type and features of the property. On average, however, you can expect prices to range from around €500,000 for a townhouse in the heart of the village to several million euros for a high-end villa with sea views.

Prospects of the real estate market in Pollença

The real estate market in Pollença is facing a very positive future. The demand for real estate in this area remains consistently high, which is due to the high quality of life, the pleasant climate and the beautiful surroundings.

In addition, Pollença is becoming increasingly popular among wealthy buyers looking for a vacation home or second property. This is due to Pollença’s favorable location, rich history and culture as well as the existing infrastructure for luxury real estate.

In summary, the real estate market in Pollença remains a worthwhile investment destination thanks to its numerous advantages. Whether you are looking for a property to live in, rent out or as a long-term investment, Pollença offers a wealth of opportunities that will pique your interest. Whether you prefer to explore the historic streets, admire the breathtaking landscapes or enjoy the island’s culinary delights, Pollença has something for everyone. So now is the right time to get into the real estate market in this beautiful area!