Spain places no restrictions on foreign nationals purchasing property, whether they are EU citizens or not. Mallorca is one of the most sought-after destinations for international buyers, particularly Germans, British, Scandinavians and French looking for permanent residences or holiday homes.
The first administrative requirement is obtaining a NIE (Numero de Identificacion de Extranjero), a fiscal identification number mandatory for any property transaction in Spain. It can be applied for at a local police station in Spain or at a Spanish consulate abroad, and the process typically takes a few weeks.
The purchase follows a well-defined sequence: property selection, legal due diligence on encumbrances and registry status, signing a reservation contract with a deposit (usually 10% of the price), and completion before a public notary. Registration at the Land Registry formalises legal ownership.
Associated costs include ITP (Transfer Tax, between 8% and 11% in the Balearics for resale properties), notary fees, registry fees, legal administration and, if applicable, mortgage-related expenses. Buyers should budget an additional 10% to 13% on top of the purchase price.
At RE/MAX Drac, we guide international buyers through every stage: from a tailored property search to coordination with lawyers, notaries and financial institutions. Our multilingual team ensures every decision is made with clear information and without language barriers.