Why Foreigners Love Buying in Palma de Mallorca
Palma de Mallorca, the Balearic capital, is a magnet for international buyers thanks to:
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🌊 Mediterranean views and beach lifestyle
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🛩️ Direct flights across Europe year-round
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🏛️ Historic architecture and charming Old Town
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🏡 Villas, apartments, and fincas for every budget
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💼 Popularity among retirees, digital nomads, and investors
Palma attracts buyers from Germany, the UK, Sweden, France, the Netherlands, and beyond — with strong year-round demand for rentals and resale value.
🇪🇸 Can Foreigners Buy Property in Palma?
✅ Yes. Foreigners, whether EU or non-EU, can legally and freely purchase property anywhere in Mallorca — including urban, rural, or coastal zones.
No residency is required.
To buy securely, you’ll need a NIE (Foreigner ID) and an independent Spanish lawyer to protect your interests.
🧾 What You’ll Need to Buy in Palma de Mallorca
| Requirement | Purpose |
|---|---|
| Passport or ID | Legal identification |
| NIE Number | Required to buy, register, and pay property taxes |
| Spanish bank account | To pay purchase price and receive receipts |
| Power of Attorney (optional) | Allows remote purchase through your lawyer |
| Independent legal advisor | Ensures legality, contract fairness, tax clarity |
💼 Borderless Lawyers handles everything for remote clients, including NIEs and POA setup.
📑 Legal Steps to Buy Property in Palma
| Step | Action |
|---|---|
| 1️⃣ Get NIE | Apply locally or remotely |
| 2️⃣ Open Spanish bank account | Needed for transaction |
| 3️⃣ Sign arras contract | Reservation agreement (~10% deposit) |
| 4️⃣ Conduct due diligence | Check title, debts, licenses, zoning |
| 5️⃣ Sign escritura at notary | Legal deed of sale |
| 6️⃣ Register property | Land Registry + Catastro |
| 7️⃣ Pay taxes | Transfer tax or VAT + fees |
📍 Best Areas to Buy in Palma
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Old Town (Casco Antiguo) – Historic charm, boutique apartments
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Santa Catalina – Trendy expat-friendly area
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Portixol & El Molinar – Sea-view homes near city center
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Son Vida – Exclusive hillside villas, golf views
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Establiments & Genova – Tranquil countryside near city
✅ We help clients secure property both inside Palma and throughout Mallorca.
💶 What Are the Total Costs?
| Cost Type | Approx. % or Range |
|---|---|
| Purchase Tax (ITP) | 8%–11.5% (resale) |
| VAT + Stamp Duty | 10% + 1.5% (new build) |
| Notary + Land Registry | €1,000–€2,000 |
| Lawyer Fees | Flat fee or 0.8%–1.5% |
| Bank/mortgage costs | If financing from Spain |
We provide a custom total cost estimate before you commit to any contract.
✈️ Buying Remotely? We’ve Got You Covered.
You do not need to travel to Spain to buy property.
We provide:
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Power of Attorney setup
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Digital NIE processing
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Virtual due diligence & video walk-throughs
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Remote notary signing (via proxy)
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Complete post-sale registration and tax filing
🌍 Trusted by buyers from the UK, Germany, the US, Canada, and the Nordics.
🧑⚖️ Why Choose Borderless Lawyers?
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Independent, bilingual legal team
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Based in Spain — with experience in Balearic property law
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Remote and in-person purchase support
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End-to-end protection from contract to registration
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Transparent flat-fee legal packages
We ensure every contract and step meets legal standards — and your personal goals.
📞 Ready to Buy in Palma de Mallorca?
Avoid costly mistakes and ensure a smooth experience. Let our Spanish property lawyers guide you from start to finish.