Properties for Sale in Mallorca

Mallorca Properties - All you want to know

Buying a property in Mallorca has been a dream for many people for decades. The sunny Mediterranean island not only offers a pleasant climate, breathtaking scenery and excellent infrastructure, it is also extremely easy to reach. The island's airport now also offers direct connections to the USA. For these reasons too, property on Mallorca is a stable investment opportunity. Whether as a luxurious holiday home, retirement residence or high-yield investment, the property market on Mallorca offers the right property for everyone.

The property market in Mallorca at a glance

Mallorca attracts buyers from all over the world, especially from European countries. In addition to the German-speaking group of buyers, the English & Irish, the Scandinavians and Balts are a steadily growing group of buyers. Due to the established direct flights from the USA, more and more US-Americans are also becoming buyers. Demand for property on the island remains stable, while prices continue to rise. The main reason for this price trend is simply the lack of building land in sought-after locations. The island government has recognised that the supply infrastructure is reaching its limits. As a result, laws have been passed that extremely limit the designation of further new development areas.

Mallorca Property Prices  and Market trends

Property prices in Mallorca have seen significant growth in recent years. At the beginning of 2024, the average price per square metre was around €4,000 - an increase of almost 14% compared to the previous year. This price increase is the highest in Spain. But be careful! These figures represent the entire spectrum of the island's property market. In other words, both the market for primary residences (including old flats in C locations) and the sought-after holiday properties (e.g. modern luxury villas on the seafront in AAA locations).

The average price per square metre for holiday properties in prime locations on Mallorca is currently around €20,000. The stability of demand, the popularity of the island among international buyers and the overall limited supply of property are the main reasons for this trend.

Who buys a property in Mallorca?

More than 60% of property buyers in Mallorca are foreigners. Of this group of buyers, Germans and German speakers make up almost 60%, followed by the British (approx. 25%) and Scandinavians (approx. xx%). These buyers are interested in luxury villas, exclusive flats or traditional fincas, which they mainly use as second homes. In recent years, however, more and more families have also been moving to Mallorca as the centre of their lives. The pleasant climate, excellent accessibility, high level of security and the many international schools make the south-west of the island particularly attractive for families with children.

What types of property are available on Mallorca?

The Mallorcan market for second home properties offers a wide range of options in the luxury segment:

Flats: Available from around €500,000

New builds: Available from €630,000

Villas: Average purchase price of approx. €3,000,000

Fincas and country estates: Available from approx. €950,000

Luxury properties: From €7,000,000

These properties cover a wide price range, with all properties on offer offering a high standard of quality and fittings. Of course, all properties with sea views, new builds and all types of seafront properties are particularly sought after.

Regional price overview (as at March 2024) Prices vary considerably depending on the region:

Palma: flats from €500,000, villas from €1,880,000

Southwest: flats from € 591,000, villas from € 2,726,000

Centre: flats from € 500,000, villas from € 1,362,000

North: Flats from € 500,000, villas from € 1,808,000

East: flats from €500,000, villas from €1,465,000

West: flats from €500,000, villas from €1,960,000

The most sought-after properties are located in the regions of Palma and the entire south-west of the island. If you look at the total turnover of properties sold on Mallorca each year, around 80% of these are in the region between Palma and Puerto de Andratx on the south-west coast alone. This region stands for the highest property prices in Spain, offering stable price growth and very high demand for decades.

Important aspects when buying property in Mallorca

When buying a property in Mallorca, there are a number of legal and tax aspects to consider:

NIE number: A Spanish tax number (Número de Identificación de Extranjeros) is required to buy property in Mallorca.

Notary fees: The purchase contract must be notarised by a Spanish notary.

Taxes and duties: Buyers must pay property transfer tax (ITP) or value added tax (IVA) plus stamp duty (AJD), as well as land registry fees.

Legal advice: It is strongly recommended to instruct a Spanish lawyer to assist with the purchase process. Lawyers in Mallorca have a fee that is usually around 1% of the notarised sale price.

Financing: Foreign buyers can take out mortgages with Spanish banks, whereby a deposit of around 30% to 40% is required.

Estate agent's commission: In Mallorca, the seller owes the estate agent's commission. This means that the agency commission is already included in the quoted property prices.

Which properties are the most popular in Mallorca?

Particularly popular are:

Properties in the Southwest

Country Homes

Villas in Mallorca

Villas Southwest

Apartments Southwest

All our Properties for Sale in Mallorca

We offer properties of all categories for sale in Mallorca. Our focus lies on properties in the southwest of the island of Mallorca. Here are the roots of our company and here are our real estate offices. However, we are constantly expanding our portfolio. Especially carefully selected new build properties on Mallorca that we are offering island-wide. Our real estate offer is primarily aimed at prospective buyers who are looking for a holiday property on Mallorca. When selecting our properties, we, therefore, make sure that they meet the Mediterranean lifestyle of a second home in Mallorca. Especially the rustic country house on Mallorca convinces with its Mediterranean atmosphere in quiet surroundings and with a lot of privacy. But of course, properties in Mallorca are first of all considered to be properties with sea views. It does not matter if you are thinking about apartments, penthouses or villas.

Your chance to buy a property in Mallorca

Mallorca offers anyone with the right budget the opportunity to purchase a luxury property in one of Europe's most sought-after destinations. From exclusive flats to luxurious villas, the island offers the right property for every buyer. With personal advice from an experienced real estate agent such as Luxury Estates Mallorca, you too can find your dream property on Mallorca.

Our advice on buying a property

We offer properties of all categories for sale in Mallorca. Our focus is on properties in the south-west of the island of Mallorca. This is where the roots of our company and our property offices lie. However, we are continuously expanding our portfolio. We also offer selected new-build properties on Mallorca throughout the island. Our property portfolio is primarily aimed at prospective buyers who are looking for a holiday property in Mallorca. When selecting our properties, we therefore make sure that they fulfil the Mediterranean lifestyle of a second home on Mallorca in their own way. The rustic finca on Mallorca is particularly fascinating here with its Mediterranean flair in a peaceful setting and with plenty of privacy. But of course, Mallorca properties are primarily understood as properties with sea views. Whether it's flats, penthouses or villas.

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