{"id":173528,"date":"2025-07-07T09:25:03","date_gmt":"2025-07-07T09:25:03","guid":{"rendered":"https:\/\/sonnevonmallorca.com\/5-rules-for-buying-real-estate-in-mallorca\/"},"modified":"2025-07-07T09:25:56","modified_gmt":"2025-07-07T09:25:56","slug":"5-rules-for-buying-real-estate-in-mallorca","status":"publish","type":"post","link":"https:\/\/sonnevonmallorca.com\/en\/5-rules-for-buying-real-estate-in-mallorca\/","title":{"rendered":"5 rules for buying real estate in Mallorca"},"content":{"rendered":"\n<p><strong>1. legal examination of the property (due diligence)<\/strong><\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>Why is it important?<\/strong>  In Spain, especially on the Balearic Islands, there are many properties with an unclear legal status.<\/li>\n\n\n\n<li><strong>What to do?<\/strong>\n<ul class=\"wp-block-list\">\n<li>Hire a local estate agent to check the <strong>ownership structure<\/strong>, <strong>building permits<\/strong>, <strong>land register data<\/strong>, <strong>encumbrances and mortgages<\/strong>.<\/li>\n\n\n\n<li>Ensure that <strong>all construction work is legalized<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n<p><strong>2. plan for financing and ancillary costs<\/strong><\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>Why is it important?<\/strong> Service charges account for approx. <strong>10-15%<\/strong> of the purchase price.<\/li>\n\n\n\n<li><strong>What should I bear in mind?<\/strong>\n<ul class=\"wp-block-list\">\n<li>Real estate transfer tax (ITP): <strong>8-11%<\/strong> depending on the purchase price.<\/li>\n\n\n\n<li>Notary, land registry and legal fees.<\/li>\n\n\n\n<li>For new buildings: <strong>10 % value added tax (IVA)<\/strong> + <strong>1.5 % stamp duty<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n<p><strong>3. know your taxes and obligations as an owner<\/strong><\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>Why is it important?<\/strong>  Ownership is an obligation &#8211; also for tax purposes.<\/li>\n\n\n\n<li><strong>What should I bear in mind?<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>Non-resident tax<\/strong> (for non-residents, even without renting).<\/li>\n\n\n\n<li><strong>property tax (IBI)<\/strong> annually.<\/li>\n\n\n\n<li>Letting? Then <strong>income tax on rental income<\/strong> + <strong>tourism license<\/strong> may be necessary. <\/li>\n\n\n\n<li>Advice from a local tax consultant is advisable.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n<p><strong>4. choose the location with a vision<\/strong><\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>Why is it important?<\/strong>  The value of the property depends heavily on its location.<\/li>\n\n\n\n<li><strong>What should I bear in mind?<\/strong>\n<ul class=\"wp-block-list\">\n<li>Good infrastructure, proximity to airports, beaches, cities.<\/li>\n\n\n\n<li>Building permits in coastal regions are more difficult to obtain today &#8211; existing buildings have priority.<\/li>\n\n\n\n<li>Clarify whether the property is located in a <strong>protected or rural zone<\/strong> (tricky under building law).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n<p><strong>5. apply for an NIE number<\/strong><\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>Why is it important?<\/strong>  The NIE (N\u00famero de Identidad de Extranjero) is mandatory.<\/li>\n\n\n\n<li><strong>What to do?<\/strong>\n<ul class=\"wp-block-list\">\n<li>Apply early &#8211; either via the Spanish consulate or directly in Mallorca.<\/li>\n\n\n\n<li>Without a NIE, no property can be registered in your name in the land register.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>1. legal examination of the property (due diligence) 2. plan for financing and ancillary costs 3. know your taxes and obligations as an owner 4. choose the location with a vision 5. apply for an NIE number<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-173528","post","type-post","status-publish","format-standard","hentry","category-unkategorisiert"],"_links":{"self":[{"href":"https:\/\/sonnevonmallorca.com\/en\/wp-json\/wp\/v2\/posts\/173528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sonnevonmallorca.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sonnevonmallorca.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sonnevonmallorca.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sonnevonmallorca.com\/en\/wp-json\/wp\/v2\/comments?post=173528"}],"version-history":[{"count":0,"href":"https:\/\/sonnevonmallorca.com\/en\/wp-json\/wp\/v2\/posts\/173528\/revisions"}],"wp:attachment":[{"href":"https:\/\/sonnevonmallorca.com\/en\/wp-json\/wp\/v2\/media?parent=173528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sonnevonmallorca.com\/en\/wp-json\/wp\/v2\/categories?post=173528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sonnevonmallorca.com\/en\/wp-json\/wp\/v2\/tags?post=173528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}