How to Buy Property in Mallorca as a Foreigner
How do you buy property in Mallorca as a foreigner?
Foreigners can buy freely in Spain — there is no nationality restriction on residential property. The process runs: get your NIE and a Spanish bank account, appoint an independent lawyer, sign a reservation and arras deposit, complete due diligence, sign the deed at the notary, then pay taxes and register.
The buying process, step by step
- NIE and bank account — the foreigner's tax number is required to buy, pay taxes and sign the deed; a Spanish account eases payments.
- Independent lawyer — one who acts only for you, not the seller or agent.
- Reservation and arras — a private contract with a deposit of about 10%; under arras penitenciales, a buyer who withdraws forfeits it and a seller who withdraws repays double.
- Due diligence — the nota simple, any debts or charges, planning and licences, the cédula de habitabilidad, and buildability for rural land.
- Notary completion — sign the escritura pública, pay the balance and receive the keys.
- Taxes and Land Registry — pay ITP or IVA within 30 days, then register the deed in your name.
Can foreigners buy property in Mallorca?
Yes, with no nationality restriction. A separate military permit can apply only to rural land in a few sensitive coastal or border zones; your lawyer will flag it.
How long does it take, and can I get a mortgage?
A purchase typically completes in about 6–12 weeks from accepted offer, depending on due diligence and financing. Non-resident mortgages are usually up to about 70% of value.
Related guides
See the cost of buying and where to buy guides.