How to buy property in Mallorca

how-to-buy-property-in-mallorca

Buying your dream house in Mallorca

To buy property in Mallorca has been your longtime dream but how does one go about it? You have window shopped in the many estate agency windows, imagined yourself in one of those beautiful villas for sale and thought you could buy a second residence in Mallorca or even a new home. So far so good.

The property market in Mallorca is waking up again

The offer on property for sale has remained healthy in Mallorca but so has the market.

A combination of great property, from town houses to farm houses, private villas, apartments and seaside bungalows, there is the mild year round climate with distinct seasons and the fact that Mallorca is after all the most popular island in the med, has meant house prices have not dropped far and the crisis has been fairly well weathered.

Now it looks like its picking up again, and so it would seem that if you are going to buy property in Mallorca you are just in time to catch a deal before house prices rocket again.

To buy property in Mallorca can be complicated however. There is the language for a start. You will need a good estate agent on your side to help you through the lengthy bureaucratic and legal process of buying property in Mallorca.

Choosing a property agent you can trust

Property agencies are not tightly regulated in Spain so choosing the right inmobiliaria, as they are known here, is crucial.

To buy property in Mallorca you will need a property agent that is both professional and knowledgeable and if you are going to buy a house find out beforehand what their fees involve.

Most agencies will include their commission in the advertised property price so you needn´t worry about added costs. Factor this in too when calculating taxes as you should only pay tax on the price of the property you buy minus the agency fees.  A good estate agent will be able to take you through the entire property buying process in English.

The agent will also help organise house viewings so it is worth being quite clear as to what kind of property you are looking for. Mallorca´s houses can be quite varied, whitewashed houses in the coastal villages bear little resemblance to the rustic country homes of the interior, or the restored private villas, modern apartments and surprisingly spacious townhouses you find tucked down cobbled streets with pools in the garden and wonderful terraces with views of the rooftops and mountains beyond.

Lists and more lists

To ensure you buy the right property in Mallorca make a list of what you need and what you are looking for. List the kind of property you want to buy, whether a villa, luxury beach side pad or rustic finca, the amenities you require, the area you want the property to be in, and all the things you think are important.

How close is the nearest hospital, how good are the schools? Shops, beaches and public transport… and make sure you buy the property of your dreams.

To buy property in Mallorca as an investment

Mallorca is attractive to investors for a number of reasons. First of all, Mallorca is fun, beautiful and super easy to get to. It is no small feat that it has remained consistently popular since its first tourists landed on the island´s beaches back in the 50s. It has weathered its awful reputation as a British playground for drinking and debauchery, and continues to do so.

From its halcyon days of the 60s to the package holidays of mass tourism in the 80s, Mallorca has retained its charm and beauty, cleaned up its act a bit and revamped its property market, making it a highly attractive place to visit and a great place to buy property.

Property prices have remained resolutely high on the island, dropping only slightly during the massive property crisis of recent years, so the time to buy property in Mallorca has never been better. You stand a good chance of finding a property to buy within your budget, and a second home in Mallorca or a whole new life in the bargain.

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Buy a Property

We can provide assistance and recommend legal professionals who can advise you throughout the whole process of buying and selling a property.

Please take a look at our buyers guide to consult all the key steps of the process.

Sell a Property in Mallorca

If you want to sell your property, you are at the right place. At SolMallorca we have been working in real estate for 30 years and have gained vast experience and local know-how, establishing ourselves as one of the most important and best-known real estate agencies in the north of the island. 

 

 

Sell a propertyyin Mallorca

 

From our blog
 7 Dec
    12 things your real estate agent in Mallorca can and should do for you   A professional real estate agent's role is to find you the right house, in the right area, at the right price.   Find a [+]