Buying an apartament in Mallorca: The most important tips
Buying an apartament in Mallorca is an exciting decision, but one that needs to be well prepared. The island offers a wide range of property options, but before you decide on your dream home, you should consider a few important aspects. In addition to the right location and solid budget planning, legal protection plays a particularly important role.
Important considerations before buying
Before you embark on the purchase process, you should make a few basic considerations. These include the question of whether the apartament is to be used as a holiday home, permanent residence or investment. It is also advisable to be aware of the long-term costs such as taxes, maintenance and possible renovations. The availability of services such as supermarkets, restaurants and medical care in the neighbourhood also plays a decisive role.
Find the best location
Location is one of the most important factors when buying an apartament in Mallorca. Consider whether you prefer to be close to the beach, tourist hotspots or a quiet neighbourhood. Popular regions such as Palma, Santa Ponsa or Port d'Andratx each offer different advantages. Make a prioritised list to determine which factors are most important to you when choosing a location. Also consider the infrastructure and transport links.
Check the legal aspects
When buying a property in Mallorca, the legal framework should not be underestimated. It is important to find out about all the necessary licences and to have the property checked for any building law problems or contaminated sites. It is advisable to consult a local lawyer who is familiar with Spanish law and can ensure that the purchase process runs smoothly. A look at the land register is also essential to ensure that there are no debts on the property.
Budget planning and financing
Thorough budget planning is the key to a successful property purchase in Mallorca. In addition to the purchase price, make sure you take into account all additional costs such as notary fees, taxes and any estate agent fees. If you need financing, you should find out about loans from Spanish or international banks in good time. It is advisable to get an overview of the interest rates and conditions at an early stage in order to find the best financing solution.
Choosing the right estate agent
An experienced and trustworthy real estate agent in Mallorca can make the buying process much easier for you. An agent who specialises in the property market in Mallorca can give you valuable insight into the local conditions. They will not only support you in your search for the ideal apartament, but also help you negotiate and finalise the purchase. Our property experts at KENSINGTON Artá are the right people to talk to. Our team of experts stands for professionalism and reliability. You can find more information here.
The different types of apartaments in Mallorca
Mallorca offers an impressive variety of apartaments to suit a wide range of requirements and budgets. Whether you are looking for a modern flat in the city centre, a traditional property in a charming village or a luxurious property with sea views, the island has something for everyone. To make the right choice, it is important to know the different types of flats on offer in Mallorca.
Modern apartaments
Modern apartaments in Mallorca are characterised by contemporary architecture, clean lines and high-quality materials. They are mostly found in newer residential complexes and offer amenities such as open-plan living spaces, large window fronts and often smart home technologies. These apartaments are often located in central locations, such as in Palma or in newly developed residential areas, and offer a first-class infrastructure with cafés, restaurants and shops in the immediate vicinity. These apartaments are ideal for buyers who value modern design and comfort.
Traditional apartaments
Traditional apartaments in Mallorca reflect the charm of Mediterranean architecture. You will often find this type of property in historic buildings that have been carefully renovated to preserve their original character. Characteristic elements such as exposed wooden beams, terracotta tiles and rustic stone walls give these apartaments an authentic flair. These apartaments are often located in picturesque villages such as Valldemossa or Artá, where traditional Mallorcan life is palpable. For lovers of history and culture, traditional apartaments in a quiet location are an excellent choice.
Luxury apartaments
Luxury apartaments in Mallorca offer an upscale lifestyle with first-class features. From spacious penthouses with private pools to residences in exclusive residential complexes with security and concierge services, these properties fulfil the highest demands. They often offer spectacular views of the sea or the mountains and are located in premium locations such as Port d'Andratx or Bendinat. For buyers who place the highest value on luxury and comfort, these apartaments offer everything your heart desires.
Flats near the beach
For many, proximity to the sea is a decisive factor when buying an apartament in Mallorca. Flats close to the beach not only offer fantastic views of the Mediterranean, but also the advantage of being able to reach the island's beaches in just a few minutes. These apartaments are often located in attractive tourist areas such as Playa de Palma, Alcúdia or Cala Millor. They are ideal for anyone who wants to enjoy the beach and the sea right on their doorstep, whether as a holiday home or as an investment to rent out to holidaymakers.
Which areas of Mallorca are particularly popular for buying flats?
Mallorca offers a variety of attractive locations for buying an apartament, from lively towns to quiet coastal resorts and charming villages. Each region of the island has its own character and unique advantages. Choosing the right region therefore depends on your individual preferences.
Palma de Mallorca
The capital of Mallorca is the hotspot for those who want to combine city life with Mediterranean flair. Palma offers an impressive mix of historic architecture, first-class restaurants, boutiques and a vibrant nightlife. Here you will find modern and luxurious apartaments, often with views of the famous La Seu Cathedral or the marina. Palma is ideal for buyers who love urban life while enjoying the amenities of a coastal city.
Andratx
Andratx in the south-west of Mallorca offers a mixture of luxury and nature. Port d'Andratx in particular, the exclusive harbour district, is extremely popular with buyers of luxury apartaments. The region offers breathtaking views of the sea and the mountains, coupled with a first-class infrastructure and renowned restaurants. Here you will find luxury apartaments and penthouses that meet the highest standards. Andratx is ideal for those seeking exclusivity and tranquillity.
Santa Ponsa
Santa Ponsa is a lively coastal town in the south-west of the island, popular with both locals and international buyers. The town offers a mix of modern apartaments, which are often part of residential complexes with communal pools and gardens. Santa Ponsa is known for its family-friendly atmosphere, proximity to beautiful beaches and golf courses and excellent infrastructure. An ideal destination for buyers who appreciate both beach life and proximity to leisure facilities.
Artá
Artà, located in the north-east of Mallorca, is an insider tip for anyone looking for authentic and traditional Mallorca. The town is surrounded by unspoilt nature, picturesque hills and historical sights. Here you will find charming, traditional apartaments in historic buildings that reflect the original charm of the island. Artà is ideal for buyers who prefer a quiet environment, away from the tourist centres, and want to enjoy life in a typical Mallorcan village. Its proximity to the beaches of the north-east coast and nature reserves makes Artà a unique location for anyone looking for culture, nature and tranquillity.
Costs and fees when buying a flat in Mallorca
When buying an apartament in Mallorca, there are not only the purchase price, but also various additional costs and fees. It is important to include these additional expenses in your budget planning at an early stage in order to avoid surprises.
Purchase price
The purchase price of an apartament in Mallorca varies greatly depending on the location, size and furnishings. In sought-after areas such as Palma or Port d'Andratx, prices can be significantly higher than in rural regions or smaller villages. On average, prices for an apartament in Mallorca range between 3,000 and 7,000 euros per square metre, although exclusive properties in prime locations can be significantly higher.
Additional costs
In addition to the actual purchase price, buyers should budget around 10-15% of the purchase price for ancillary costs. These include notary fees, land registry costs and any estate agent commissions. Development and connection costs may also be incurred, particularly for newer properties, if these have not yet been fully regulated. Ancillary costs may vary slightly depending on the type of property and region, but should be included in the budget from the outset.
Taxes
There are several types of tax when buying an apartament in Mallorca. The most important tax is the property transfer tax, which applies to resale properties and is between 8% and 11% of the purchase price, depending on the purchase amount. For new-build properties, value added tax (IVA) of 10% and stamp duty of 1.5% are payable instead. These taxes should not be overlooked when planning your finances.
Legal fees
It is highly recommended to consult a local lawyer when buying an apartament in Mallorca to ensure that all legal aspects are handled properly. Among other things, the lawyer will check that the property is free of encumbrances and that all the necessary licences have been obtained. The cost of a lawyer is usually between 1% and 1.5% of the purchase price, depending on the complexity of the purchase.
How much does a flat cost in Mallorca?
Prices for apartaments in Mallorca vary greatly depending on location, features and size. In sought-after areas such as Palma or Port d'Andratx, prices often start at 300,000 euros. For luxurious penthouses or apartaments with sea views, prices can easily reach several million euros. In quieter, rural areas such as Artà or Manacor, prices are often somewhat lower and start at around 150,000 to 200,000 euros for smaller flats. Buyers should bear in mind that in addition to the purchase price, there are also the aforementioned additional costs and fees, which can have a significant impact on the overall budget.
The advantages of buying a flat in Mallorca
Buying an apartament in Mallorca offers many attractive advantages that can be both financially and personally rewarding. The island has established itself as a popular investment destination in recent years and, in addition to the breathtaking scenery and pleasant climate, also offers long-term security and high earnings potential.
Earnings potential
The property market on Mallorca has been stable for years and continues to show great potential for growth. Apartaments in sought-after locations such as Palma, Port d'Andratx or Santa Ponsa can generate attractive rental income, especially in the high season. Demand for holiday flats and long-term rentals remains strong, providing owners with a reliable source of income. Thanks to the popularity of the island as a holiday destination, investors can count on regular income and thus use their capital profitably.
Holiday destination for the family
An apartament in Mallorca not only offers financial benefits, but also personal added value. The island is an ideal place for family holidays, with beautiful beaches, a safe environment and a wide range of leisure activities for all ages. If you own your own apartament in Mallorca, you and your family can enjoy a holiday in your personal holiday home at any time without having to worry about accommodation bookings. It also offers the opportunity to create unforgettable family moments and serves as a reliable retreat.
Long-term investment
Mallorca is not only a popular holiday destination, but also a safe location for long-term investments. The stability of property values on the island has proven itself over the years, and many properties have seen a continuous increase in value. The demand for property, especially in sought-after regions, remains consistently high. An apartament in Mallorca can therefore represent a solid investment that retains its value and is an attractive capital investment even in economically uncertain times.
Increase in equity
By buying an apartament in Mallorca, you can increase your equity in the long term. Property is considered a safe investment that increases in value over time. In addition, regular rental income can be used to pay off any loan you may have taken out, which means that your equity increases continuously. This makes buying a property in Mallorca a rewarding way to diversify your financial portfolio while benefiting from the appreciation of a sought-after property.
Are you interested? Let KENSINGTON advise you
Would you like to fulfil a long-cherished wish and buy an apartament in the north-east of Mallorca? KENSINGTON Artá offers you an exclusive, carefully compiled portfolio of high-quality apartaments that leaves nothing to be desired.
Our specialised team will accompany you with a comprehensive and competent service to ensure that you find exactly the apartament that perfectly suits your ideas and needs. Whether you are looking for a quiet holiday property, a luxurious flat with panoramic views or a modern flat in a central location - we will help you discover the ideal property.
Have we piqued your interest in an apartament in Mallorca? Or perhaps you already have a property in mind that you would like to buy? Then don't hesitate to get in touch with us. We will be happy to provide you with non-binding advice and invite you to visit our showroom in Artá in person. Our experienced experts are always ready to offer you the best possible support for your property purchase.
Contact us today and let's take the first step towards your dream home in Mallorca together. We look forward to showing you the most beautiful and exclusive apartaments on the sunny island - your satisfaction is our highest goal!