Buying a property in Spain

Buying a property in Spain is very different from buying a property in the rest of Europe. We have put together a list of the most important points for purchasing a property in Mallorca in a legally and secure fashion. Please note that this is not legal advice but for information purposes only. Depending on the individual case in question, it is always recommended to consult a lawyer in Mallorca before buying. Platin Immobilien AG in Mallorca works together with renowned law firms tailored to German-speaking clientele and will be happy to help you get in touch with them.

As a buyer, Platin Immobilien staff will help you with any questions you may have. In this way, we are able to clarify the following points for our customers by working together with authorities and solicitors.

Important considerations before buying a property

  • Is it possible or permitted to build on the plot?

  • Is the building legalized or under protection?

  • Is the seller registered in the property register? Does the property have any encumbrances?

  • Are there limited real rights to the property (liens and land charges)?

  • The application for an NIE number (Spanish tax number), which non-resident buyers and sellers must have at the meeting with the notary.

  • Once all outstanding issues have been clarified, nothing will stand in the way of you buying your dream home in Mallorca.

  • Taxes and fees will be due during and after the purchase of a property.

Property tax has been tiered as follows since 01.01.2013:

Purchase pricePercentage
up to 400,000 EUR8 %
from 400,000 – 600,000 EUR9 %
from 600,000 EUR10 %

Additional purchase costs will be due in addition to taxes

  • Notary fees (about 1% of the purchase price)

  • Property register costs for the registering the purchase deed (about 0.1 – 0.2% of the purchase price)

  • Notary and property register costs when ordering and registering a mortgage

  • Legal consultation expenses

  • Legal fees

Platin Immobilien AG

Fällmisstrasse 12

8832 Wilen bei Wollerau

Tel. 055 220 20 60

Fax. 055 220 20 67

Platin Immobilien AG

Calle Marbella 15, Local 13

07610 Playa de Palma

Mallorca

Tel.+34 626 150 670