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Mallorca Property Market News

Mallorca Property Market Autumn 2010 - The Sunday Times
"German investors are now buying back property in their favourite haunts, such as Mallorca, so what does this mean? Is now the time for smart British investors to follow German buyers back, at least in preferred strongholds such as Mallorca? Of course, prices may continue falling, but do not expect prime properties to be given away.

"British people making offers 50% below the asking price are going home empty-handed, Germans know they will not get bargains, but they think now is a good time to invest, and better and safer than having their money in the bank." In prime areas such as Mallorca, the window of opportunity may shut sooner than people think. Vendors are still open to offers, and its far easier to negotiate with them just before prices start rising than just after, but for the first time in 18 months, Agents are actively having to look for property, so the supply of properties priced to sell is getting tighter again." Pinpoint Property Mallorca

Welcome to
Property for Sale by the Owner in Mallorca (Majorca), Menorca (Minorca), Ibiza (Eivissa) & Formentera (Balearic Islands).

Property for Sale - Port Andratx, Mallorca
Exclusive semi-detached house in Puerto de Andraitx, Mallorca. Exclusive semi-detached house in Puerto de Andraitx, Mallorca.

Exclusive semi-detached house in Puerto de Andraitx (Port Andratx). The house is set in an exclusive, quiet, walled and gated community of eight houses, which is only moments away from the nearby Club de Vela Yacht Club.
price: €1,280,000

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Properties for Sale - Menorca & Mallorca
Newly refurbished 3 bedroom villa - Binisafua, Menorca. New construction semi-detached villa - Cala Romantica, Mallorca.

Charming single storey newly refurbished 3 bedroom, 2 new bathroom villa on 550sq.m plot in Binisafua, Menorca
price: €445,000

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Beautiful new construction semi-detached villa within a new development in Cala Romantica, Mallorca
price: €205,000

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Properties for Sale - South West Mallorca
Front line apartment in Magaluf, Mallorca. Top floor apartment in Santa Ponsa, Mallorca.

1 bedroom furnished front line apartment (sleeps 4), in Magaluf, Mallorca.
price: €210,000

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2 bedroom top floor apartment in the popular residential area of Santa Ponsa, Mallorca.
price: €169,000

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Mallorca [Majorca] has a good mix of modern and more traditional housing, with properties that range from small apartments, new builds, fincas, villas and houses to large country estates. Mallorca [Majorca] Real Estate.

* A sole agency agreement does not affect your right to sell your property privately. Your Estate Agent is only entitled to commission if they sell your property or if a buyer is introduced by another Estate Agent during the period of Sole Agency.

Disclaimer: The above information is believed to be accurate but not warranted.

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Property Buyers Guide

When a suitable property has been found and a purchase price agreed you then appoint a notary [lawyer] preferably English speaking. The notary will then conduct any appropriate searches and draw up a terms of purchase usually accompanied by a non refundable deposit of anything up to €6000 to take the property off the market.

Contracts are normally drawn up within 3 months and the sale is formally completed when the title deeds of purchase [escritura publica] are signed in front of the notary together with final balance transfer.

Your notary will then inform the local land register of the transfer of ownership. As a general rule you need to add approximately 10% to your agreed purchase price to cover all essential fees and taxes.

TAXES :- Property Transfer Tax [ITP] : Usually 7% of the property value as expressed in the deed of conveyance. Stamp Duty [AJD] : Can be up to 1% of the property value. Annual Property Tax [ Impuesto Bienes Inmuebles] : local property tax usually less than in the UK. VAT [IVA] : 7% of the value of a new build instead of transfer tax. Capital Gains : If the vendor is a non resident, the buyer is obliged to withhold 3% of the agreed purchase price and to pay this amount to the Spanish Tax Authorities on behalf of the vendor. Contribucion Territorial Rustica : This is same as IBI but for properties located in rural areas. Rubbish Collection Tax : [Tasas y Cargas] collected locally.

Disasters can easily be avoided by using a little common sense and locating a good independent Spanish lawyer who speaks fluent English.

Disclaimer: The above information is intended only as a basic guide without representations or warranties of any kind. All clients should seek their own independent advice when purchasing or selling property abroad.

Eigentum für Verkauf Mallorca. "German buyers now account for 50% of the market and British buyers around 20%". Spanish Property Insight

Property for Sale by the Owner in Mallorca (Majorca), Menorca (Minorca), Ibiza (Eivissa) & Formentera