Buying a house in Mallorca

Mallorca is not only a popular holiday destination, but also a sought-after place to own your own home. Anyone thinking about buying a house in Mallorca will find a wealth of options here - from charming fincas in the centre of the island to modern villas with sea views.

Why buy a house in Mallorca?

Mallorca, the largest of the Balearic Islands, is a place of longing for many people. The combination of breathtaking nature, mild Mediterranean climate and rich cultural heritage makes Mallorca one of the most desirable locations for property purchases in Europe. But what makes buying a home in Mallorca so attractive?

Attractive investment opportunities

Property prices on Mallorca have risen continuously in recent years. This makes the island an interesting destination for investors looking for solid returns. Holiday homes and luxury villas are particularly in demand, as they not only promise an increase in value, but can also generate attractive income through holiday rentals. In times of economic uncertainty, property in Mallorca is a comparatively safe form of investment.

Mallorca as a popular holiday destination

Mallorca attracts millions of tourists every year, making the island one of the most popular holiday destinations in Europe. The possibility of using your own home as a holiday home or renting it out during the high season offers an additional incentive. In this way, owners can both create a retreat for themselves and benefit from the high tourist numbers.

Growing property market in Mallorca

The property market in Mallorca is constantly changing, with demand for high-quality properties growing steadily. Property prices have risen significantly in recent years, particularly in popular regions and on the coast. Nevertheless, there are always attractive offers, especially if you are prepared to look a little further away from the tourist hotspots.

Popular regions for buying a house in Mallorca

Mallorca offers a variety of different regions, each with its own charm and character. Whether you are looking for lively coastal resorts, idyllic mountain villages or tranquil rural areas, the island has something for everyone.

Palma de Mallorca

The capital Palma offers a perfect blend of urban life and Mediterranean flair. With an impressive old town, numerous shopping facilities, restaurants and a vibrant nightlife, Palma is the ideal place for anyone who loves city life. Property prices in Palma are in the upper segment, but the high demand speaks for the value of this investment.

Andratx

Andratx is located in the south-west of the island and is known for its exclusive villas and luxurious properties. The nearby harbour Port d'Andratx attracts yacht owners and celebrities. The spectacular landscape with mountains and coastlines makes this region particularly attractive for nature lover

Calvia

Calvia is one of the wealthiest municipalities in Spain and offers a variety of properties, from luxurious villas to charming country houses. Its proximity to Palma and the popular beaches makes Calvia a sought-after area for property buyers looking for a mix of tranquillity and accessibility.

Arta

For those looking to experience the authentic Mallorca, Arta in the north-east of the island is an excellent choice. The picturesque villages, rural ambience and proximity to some of the most beautiful beaches on the island make Arta a real gem.

Cala Ratjada

Cala Ratjada, located on the north-east coast, is a lively coastal resort popular with both locals and tourists. Here you will find a good selection of apartaments, townhouses and villas, often with breathtaking sea views.

Santa Ponsa

Santa Ponsa is one of the best-known residential areas in the south-west of Mallorca. The region is known for its golf courses, luxurious villas and exclusive marinas. Santa Ponsa offers a perfect balance between lively tourism and upmarket living.

Types of houses in Mallorca

The variety of properties on Mallorca is impressive. Depending on personal taste and budget, buyers will find a wide range of properties.

Terraced houses

Townhouses are a practical housing solution in Mallorca and are popular due to their often lower price and efficient use of space. They are usually located in residential complexes with communal facilities such as pools, gyms and sometimes security services. This option is ideal for families or people looking for a social environment and proximity to urban amenities without having to give up their own home.

Villas

Villas are often located in favoured locations such as Santa Ponsa, Son Vida or Puerto Portals. They are often situated on the first sea line with breathtaking panoramic views or surrounded by idyllic landscapes. A villa in Mallorca usually offers luxurious features such as a swimming pool, a large garden and spacious interior areas. Prices can be very high, especially in prime locations such as the south-west of the island or near the capital Palma.

Finca-style houses

Traditional fincas, often on spacious plots in the centre of the country or in rural areas such as Arta, offer an authentic Mallorcan living experience. These homes usually have a rustic charm with elements such as natural stone facades, wooden beams and spacious outdoor areas that reflect rural life. They are ideal for buyers who long for an escape from the hustle and bustle of the city and want to experience the authentic Mallorca.

Important factors when buying a house in Mallorca

When buying a property in Mallorca, there are some important factors to consider in order to make an informed decision.

Location of your house in Mallorca

The location is decisive for the value and future development of your property. Consider whether you want to invest in a tourist region, in the city or in a quieter rural area. Proximity to beaches, schools, shopping facilities and public transport can also play an important role.

Price of houses in Mallorca

Property prices in Mallorca can vary greatly depending on the location, the condition of the property and its proximity to desirable amenities such as beaches, shopping centres and cultural attractions. The coastal areas in particular are often more expensive, while you can still find relatively cheaper offers inland.

The condition and size of the house also have a significant influence on the price. Buyers should therefore not only carefully consider their financial situation, but also research the market well or consult a local property expert to ensure they make an informed purchase decision that suits their needs and budget.

Condition of the property in Mallorca

It is particularly important to carefully check the condition of older properties in Mallorca. Any renovation costs that may be incurred should be factored into the purchase decision. A professional valuation can help to determine the actual value of the property and uncover hidden defects.

Advantages of buying a house in Mallorca

Mallorca offers numerous advantages for home buyers looking for both a holiday home and a main residence.

Beautiful Mediterranean climate in Mallorca

The climate on Mallorca is one of the best in Europe. With over 300 days of sunshine a year, the island offers ideal conditions for a relaxed outdoor life. Hot summers and mild winters allow for a variety of activities at any time of year.

High quality of life on Mallorca

Mallorca offers a high quality of life, characterised by an excellent infrastructure, first-class restaurants, a diverse cultural scene and numerous leisure activities. The island combines urban life, nature and culture in a unique way. This makes Mallorca the perfect place for anyone looking for a home in a dynamic yet idyllic setting. Here you can fully savour the Mediterranean flair while benefiting from all the amenities of modern life.

Value appreciation potential of property in Mallorca

The increasing demand for property in Mallorca, especially in sought-after locations, ensures a high potential for value appreciation. In addition, the popularity of the island as a place to live and holiday also means that prices are expected to rise in the future.

Steps to buying a house in Mallorca

Property search

The search for the right property usually begins online or through local estate agents. Visit different regions of the island to get a feel for the different areas. Property portals provide an initial guide to what is currently on offer and the prices. An experienced estate agent can be an invaluable help here, as they not only know the local market inside out, but may also have access to properties that are not yet publicly listed.

Viewing appointments

Once you have found some interesting properties, you should arrange viewings. Use these opportunities to ask all the important questions and get a comprehensive impression of the property.

Conclusion of contract

Once you have decided on a property, a preliminary contract (arras contract) is signed and a deposit is paid. The final purchase contract (escritura) is finalised in the presence of a notary. The purchase price is also paid and the keys are handed over at this meeting.

Legal aspects of buying a house in Mallorca

Buying property in Mallorca is subject to a number of legal requirements that apply to both foreigners and locals.

Land registry

Make sure that the property is properly registered in the land register and that there are no outstanding debts or encumbrances on the property. A land register enquiry will provide information about the ownership structure and any mortgages.

Notarised contract

The purchase contract must be concluded in the presence of a notary. The notary ensures that all legal requirements are met and that the purchase is properly documented.

Taxes and fees

There are various taxes and fees when buying a property in Mallorca, including property transfer tax, VAT (for new builds), notary fees and land registry fees. Plan these costs into your budget, as they usually account for around 10-15% of the purchase price..

Financing options when buying a house in Mallorca

Buying a house in Mallorca requires careful financial planning. There are various ways to organise the financing.

Mortgages

Spanish banks offer mortgages for both residents and foreigners. The conditions vary depending on the bank, income and type of property. As a rule, up to 70 % of the purchase price can be financed.

Equity capital

A certain amount of equity is usually required to obtain a mortgage. Plan at least 30 % of the purchase price plus additional costs (taxes, notary fees) as equity.

Obtain financial advice

Professional financial advice can help you to develop the optimum financing strategy and find the best conditions. It is advisable to obtain detailed information about the various financing options before buying.

Tips for a successful house purchase in Mallorca

A successful property purchase in Mallorca requires careful planning and a few important tips.

Professional support from a real estate agent

An experienced estate agent can make the buying process much easier. They know the local market, help you find suitable properties and support you in the negotiations and signing of the contract.

Our team of property experts at KENSINGTON Artà can provide particularly valuable support. Not only are we familiar with the specifics of the local property market, but we also have extensive experience in helping buyers select and purchase the ideal property in Mallorca.

Patience in the search

Buying a property in Mallorca is an important decision that should be carefully considered. Take the time to consider different options and view several properties before making a decision. It is important not to be led by hasty decisions, but to carefully evaluate all aspects of the potential property. This will ensure that you make an informed decision that meets your requirements and wishes.

Carefully check all documents

Check all documents and contracts carefully before finalising the purchase. This includes the land register entry, building permits, the energy performance certificate and other important documents. Seek advice from a lawyer to avoid potential risks.

FAQ: Buying a house in Mallorca

Can I buy a house in Mallorca as a German?

Yes, Germans and other EU citizens can buy property in Mallorca without any problems. There are no restrictions on property purchases by foreigners.

How much do houses cost in Mallorca?

The prices for houses on Mallorca vary greatly depending on location, size and features. Simple houses or terraced houses in less sought-after areas often start at around 200,000 euros. Mid-range properties, which are often found in good locations outside the capital Palma, are priced between 400,000 euros and 1 million euros. On the other hand, luxurious villas and large estates in the most sought-after regions, such as the south-west of the island or near the coast, can cost several million euros, especially if they offer features such as sea views or exclusive access.

What documents are required to buy a house?

The documents required include an identity card or passport, a Spanish tax number (NIE), the purchase contract, an extract from the land register and, if applicable, proof of financing.

Are there any restrictions for foreigners when you buy a property in Mallorca?

No, there are no special restrictions for foreigners when buying property in Mallorca. However, a Spanish tax number (NIE) is required.

How many Germans have houses in Mallorca?

It is estimated that several thousand Germans own property on Mallorca. The island is particularly popular with German buyers due to its proximity to Germany and the pleasant climate.