Guide: How to Buy Property in Mallorca as a Foreigner
Picture this: you’ve spent your holidays falling in love with Mallorca’s turquoise bays, charming villages, and sunny terraces. Now you’re ready to turn that dream into reality and own a piece of the island yourself.
The good news? Foreigners can freely buy property in Mallorca. From luxury villas with sea views to rustic countryside fincas, the island offers endless opportunities. But navigating the Spanish property system can feel overwhelming if you’re not familiar with the steps.
That’s where this guide comes in. At Isla Homes, we work with international buyers every day. Below we’ve outlined the essential steps to buying property in Mallorca as a foreigner in 2025, so you can focus on enjoying the journey instead of worrying about the paperwork.
1. Can foreigners buy property in Mallorca?
The short answer is yes. There are no restrictions for EU or non-EU citizens to buy property in Spain. Whether you want a holiday home, a permanent residence or an investment property, Mallorca is open to international buyers.
2. Get your NIE-number
Before you can buy, you’ll need an NIE (Número de Identificación de Extranjero). This is a tax identification number for foreigners in Spain required for all legal and financial transactions.
Apply at the Spanish consulate in your country or at a police station in Mallorca.
It usually takes a few weeks, so start early.
At Isla Homes we take away the hassle. Thanks to our trusted partners, we can help you arrange your NIE quickly and smoothly, so you don’t lose valuable time in the buying process.
3. Open a Spanish bank account
Most property purchases require a Spanish bank account. This will be used for payments, utilities and to manage taxes related to your property.
EU residents: straightforward process with passport + NIE.
Non-EU residents: additional documents like proof of income may be required.
4. Secure financing (if needed)
Foreigners can obtain a Spanish mortgage, but banks usually finance 60–70% of the property value for non-residents. Proof of income, credit history and tax declarations are required.
Tip: Work with a local mortgage broker who understands the requirements for international buyers.
5. Find the right property (with the right guidance)
This is where Isla Homes comes in. Mallorca’s real estate market is diverse, from Palma city apartments to sea-view villas in Santa Ponsa, fincas in Alaró, or luxury estates in Andratx.
And as exciting and diverse Mallorca’s real estate market is, it’s also very complex sometimes. Not every property on the market is as straightforward as it seems.
This is where we truly make the difference. With our legal background and years of experience in the property sector, we help international buyers avoid costly mistakes.
Legal security: In Mallorca, there are still properties with irregularities, from missing building permits to unregistered extensions. We carefully screen every property to ensure it complies with all regulations, so your investment is 100% safe.
Skilled negotiations: Thanks to our in-depth knowledge of the local market and cultural nuances, we negotiate the best price and conditions on your behalf.
Professional expertise: With a strong foundation in law and real estate, we understand contracts, licenses, and procedures better than most. This allows us to anticipate risks and protect your interests.
International buyers in mind: We speak your language and guide you through every step, translating the local system into clear, actionable advice.
At Isla Homes, we don’t just show you properties. We act as your trusted advisor, ensuring that your dream home in Mallorca is not only beautiful, but also a secure and profitable investment.
6. Hire a lawyer and notary
It’s strongly recommended to hire an independent lawyer to protect your interests. Your lawyer will:
Check property ownership and debts.
Ensure the property has the right licenses.
Draft and review contracts.
A notary formalizes the transaction on the day of signing.
7. Sign the contract and pay the deposit
Once you’ve agreed on a property, you sign a preliminary contract (Contrato de Arras) and pay a 10% deposit. This takes the property off the market.
8. Final signing and title deed
The final step is signing the Escritura de Compraventa (title deed) at the notary. You pay the balance, taxes and fees and receive your keys.
9. Understand taxes and costs
When buying property in Mallorca as a foreigner, expect:
Transfer Tax (ITP): 8–11% (for resale properties).
VAT (IVA) + Stamp Duty: 10% + 1.5% (for new builds).
Notary & registry fees: ±1–2%.
Legal fees: ±1%.
Our final thoughts
Buying property in Mallorca as a foreigner is a straightforward process, as long as you know the steps. With the right guidance, you can secure not just a home, but a lifestyle upgrade on one of the Mediterranean’s most beautiful islands.
At Isla Homes, we don’t just help you buy a property. We help you design your dream life in Mallorca, whether that means a luxury villa by the sea, a modern Palma apartment or a countryside finca.
Contact us today to start your property journey in Mallorca.
