Frequently asked questions

Question 1

Can foreigners buy property in Spain?

Accepted Answer

Yes. There are no restrictions on non-residents — from the EU or outside it — buying property in Spain, including in Mallorca. You have the same ownership rights as a Spanish national. The only formality you need before completing is an NIE (a Spanish tax identification number), which we help you arrange.

Question 2

Do I need to be in Spain to buy a property?

Accepted Answer

Not for the whole process. Viewings can start with video tours, and much of the paperwork is handled remotely. If you cannot travel for the signing at the notary, you can give your lawyer power of attorney to sign on your behalf.

Question 3

What is an NIE number and how do I get one?

Accepted Answer

The NIE (Número de Identidad de Extranjero) is your Spanish tax ID. You need it to buy property, open a bank account and pay taxes. You can apply at a Spanish consulate in your country or in Spain. We coordinate it with your lawyer so it is ready in time for completion.

Question 4

How long does it take to buy a property in Mallorca?

Accepted Answer

From an accepted offer to the keys, a typical purchase takes around 6 to 10 weeks. Cash purchases are at the faster end; mortgage purchases take longer. The timeline depends on the legal checks, your financing and the seller's situation. We keep every party moving so it does not drift.

Question 5

What is the difference between buying a resale and a new-build?

Accepted Answer

Resale homes pay Transfer Tax (ITP); new-builds bought from a developer pay VAT (IVA) plus stamp duty (AJD). The tax treatment and timelines differ. New-builds may complete in stages with deposits during construction. We explain the guarantees and payment schedule before you commit.

Question 6

Can I buy remotely with a power of attorney?

Accepted Answer

Yes. A power of attorney (poder notarial) lets your lawyer act for you — sign the deed, pay taxes, set up utilities — without you being present. It is common for international buyers and can be arranged in your home country or in Spain.

Question 7

What extra costs should I budget on top of the purchase price?

Accepted Answer

On a resale purchase, budget roughly 10–13% on top of the price for taxes and fees. This covers transfer tax, notary, Land Registry and your lawyer. We give you an itemised estimate for your specific purchase before you make an offer, so there are no surprises.

Question 8

What property taxes do I pay when buying?

Accepted Answer

Resale homes in the Balearic Islands pay Transfer Tax (ITP) on a sliding scale that rises with the price. New-builds pay VAT (currently 10% for homes) plus stamp duty (AJD). Rates change, so we confirm the exact figures with your lawyer for your purchase.

Question 9

What are the ongoing costs of owning a property?

Accepted Answer

Expect annual IBI (council tax), rubbish collection, community fees if it is part of a complex, utilities, home insurance, and non-resident income tax if you do not live in Spain full-time. We can give you a realistic annual running-cost estimate for any property you are considering.

Question 10

Who pays the estate agent's fee?

Accepted Answer

In Mallorca the agent's commission is normally paid by the seller and is already reflected in the asking price. As a buyer, you typically do not pay us a separate fee. If you ask us to run a dedicated off-market search, we agree any terms with you in writing first.

Question 11

What is the "valor de referencia" and how does it affect my tax?

Accepted Answer

Spain sets a reference value for many properties. Purchase tax is calculated on the higher of the price you pay or that reference value. Your lawyer checks the reference value before you buy so the tax bill is no surprise.

Question 12

Do I pay tax when I sell?

Accepted Answer

Yes. Sellers pay capital gains tax on the profit and the municipal plusvalía on the increase in land value. Non-residents also have a percentage withheld at completion. Costs such as your purchase taxes and qualifying improvements can reduce the gain. We work with tax advisors who help you plan ahead.

Question 13

Do I need a lawyer to buy in Spain?

Accepted Answer

It is not legally compulsory, but we strongly recommend an independent lawyer. They run the due diligence, protect your interests and make sure you only pay once everything is clear. We can introduce you to English-, German- and French-speaking lawyers we trust, with no obligation.

Question 14

What checks does a lawyer do before I buy?

Accepted Answer

Your lawyer confirms ownership and that the seller can sell, checks for debts, mortgages or embargoes, verifies the property is free of charges, and reviews planning status and licences. For rural property they also check the build is legally registered and what you are allowed to do with the land.

Question 15

What is the reservation contract (contrato de arras)?

Accepted Answer

A reservation or arras contract takes the property off the market while due diligence is completed, in exchange for a deposit (often around 10%). Under a standard arras penitenciales, if the buyer pulls out they lose the deposit; if the seller pulls out they usually pay double. We explain every clause before you sign.

Question 16

What happens at the notary?

Accepted Answer

Completion happens before a notary, who certifies the deed of sale (escritura). You pay the balance, receive the keys, and the change of ownership is recorded. The deed is then registered at the Land Registry. Your lawyer prepares everything and can sign for you by power of attorney.

Question 17

How do I make sure a property has no debts or planning problems?

Accepted Answer

A nota simple from the Land Registry shows ownership and any charges. Your lawyer cross-checks debts, community fees, utilities and the town hall planning file. Debts in Spain can attach to the property, so this check is essential and we never skip it.

Question 18

Can I buy a finca or rustic land, and what should I check?

Accepted Answer

Yes, but rural property has special rules. Check minimum plot sizes to build, whether existing buildings are legalised, water and electricity supply, and any protected-land restrictions. We can put you in touch with trusted architects and technicians to advise on what you can realistically renovate or build before you buy.

Question 19

Can non-residents get a Spanish mortgage?

Accepted Answer

Yes. Spanish banks lend to non-residents, typically financing up to 60–70% of the lower of the price or valuation; residents may borrow more. We introduce you to brokers and banks that work with international buyers in several languages.

Question 20

How much deposit do I need?

Accepted Answer

As a non-resident, plan for around 30–40% of the price as a deposit, plus the 10–13% in taxes and fees on top. A broker can confirm your exact borrowing capacity before you start viewing, so you shop with a clear budget.

Question 21

What documents do banks ask for?

Accepted Answer

Typically proof of income (payslips or accounts), recent tax returns, bank statements, existing debts, ID and your NIE. Self-employed buyers usually provide two years of accounts. We help you prepare a complete file to speed up approval.

Question 22

Should I pay in euros or my home currency?

Accepted Answer

The purchase is in euros. If your funds are in another currency, a specialist currency service can often beat the bank's exchange rate and let you lock in a rate. On a large purchase the saving can be significant; we can point you to providers buyers use.

Question 23

How long does mortgage approval take?

Accepted Answer

A decision in principle can take days; full approval with valuation usually takes a few weeks. Build this into your offer and timeline. Having your documents ready in advance is the single biggest factor in a smooth, fast approval.

Question 24

Can I rent my property to tourists?

Accepted Answer

Only with a valid tourist rental licence (ETV). Holiday letting without one carries heavy fines, and licences are limited and regulated in the Balearics. Some properties already hold a licence — a real asset. We flag which listings have one and what it allows.

Question 25

How do I get a holiday rental licence in Mallorca?

Accepted Answer

Availability depends on the zone and property type, and rules change. New licences are restricted, so buying a property that already has one is often the practical route. We help you check a property's licence status and put you in touch with specialists on current ETV rules.

Question 26

What rental yields can I expect?

Accepted Answer

Yields vary widely by location, licence, season and how you run the property, so we avoid one-size-fits-all numbers. For a specific property we can share comparable rental data and realistic occupancy to help you model returns.

Question 27

Long-term or holiday rental — which is better?

Accepted Answer

Holiday lets can earn more per night but need a licence, more management and have seasonal gaps. Long-term lets are steadier, simpler and do not need an ETV. The right choice depends on your goals, the location and how hands-on you want to be.

Question 28

Is Mallorca a good place to invest?

Accepted Answer

Mallorca — from Pollença and Alcúdia to Palma and the south — has a long track record of stable demand, limited supply and strong international interest, which supports values. As with any market, the property matters most. We give you clear, data-backed guidance.

Question 29

Which are the best towns in Mallorca?

Accepted Answer

Pollença offers an historic old town at the foot of the Tramuntana; Port de Pollença has the promenade and family beaches; Alcúdia combines medieval walls with a long sandy bay. Inland, Campanet and Sa Pobla offer fincas and value. Tell us how you want to live and we will point you to the right town and neighbourhood.

Question 30

Does buying a property give me residency?

Accepted Answer

No. Buying a home does not automatically grant residency, and Spain has discontinued the property-based "Golden Visa". Other routes (such as the non-lucrative visa) exist. We can connect you with an immigration lawyer for current options.

Question 31

What is it like living in Pollença, Port de Pollença or Alcúdia?

Accepted Answer

Pollença is a year-round market town with culture and restaurants; the Port is relaxed and walkable by the sea; Alcúdia mixes history, beaches and good amenities. All three have an established international community and are well connected to Palma and the airport.

Question 32

Are there international schools nearby?

Accepted Answer

Yes. The island, including the Palma area, has several international and bilingual schools used by expat families. If schooling matters for your move, tell us and we factor catchment and commuting into your search.

Question 33

How far is the airport and how do I get around?

Accepted Answer

Palma airport is the island's main gateway and well connected to every area. A car is the most practical way to get around the towns and coast. Many buyers split their time across the year; the area works well for both holiday homes and full-time living.

Question 34

Why work with a local estate agent?

Accepted Answer

A good local agent saves you time and costly mistakes: access to the right properties (including off-market), deep knowledge of the market and the urban situation, accompanied viewings and help with the whole legal and tax process. We work in your language and stay with you from the first enquiry to the keys.

Question 35

What languages does your team speak?

Accepted Answer

We always speak Spanish, Catalan, English and German across our Pollença office; some agents speak other languages too. You deal with someone who understands you and can explain the Spanish process clearly.

Question 36

Do you charge buyers a fee?

Accepted Answer

For standard purchases, no — the commission is paid by the seller. You get our full service at no separate cost to you. Any bespoke off-market search is always agreed with you in writing beforehand.

Question 37

Can you help with renovations and interior design?

Accepted Answer

Yes. We can connect you with trusted architects, interior designers and builders, and help coordinate everything from a refresh to a full finca renovation — permits, build and finishes. That means you can buy a property that needs work with confidence.

Question 38

How do viewings work if I live abroad?

Accepted Answer

We start with video walk-throughs and detailed information so you only travel for serious options. When you visit, we plan an efficient day of viewings around your shortlist. Tell us your dates and budget and we will have the right homes ready.

Frequently asked questions

Buying in Mallorca: the basics

Costs, taxes & fees

Legal & due diligence

Mortgages & financing

Renting out & investment

Living in Mallorca

Working with REMAX Calm