Buying in Mallorca as a foreigner: 2026 guide
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Are you a foreigner planning to buy in Mallorca? Good news: Spain places no restrictions on non-resident buyers. Here is the full 2026 roadmap.
1. Define your project
Main residence, holiday home, rental investment, retirement — each choice implies different taxation and location. Palma for city life, Andratx and Deià for luxury by the sea, Pollença and Alcúdia for nature, Santanyà for unspoilt coves.
2. Get your NIE
The NIE (foreigner ID number) is mandatory for any transaction. Apply at a Spanish consulate abroad or directly in Spain. Allow 2–6 weeks. No NIE, no notary signature.
3. Open a Spanish bank account
Required to pay the deposit, taxes and running costs. Banks ask for NIE, passport, income proof and sometimes an initial deposit.
4. Financing
Non-residents commonly obtain Spanish financing of a maximum of 50% of the property's fiscal value. Minimum 50% down + 12–14% costs. 2026 rates: 3.5–4.5%. Allow 6–8 weeks for approval.
5. Offer and deposit
Once you've chosen a property, sign a private contract (contrato de arras) with a 10% deposit. Seller must refund double if they back out; buyer loses the deposit if they abandon.
6. Notary and escritura
Final signing (escritura pública) at the notary: balance paid, keys handed over, registration at the Land Registry. Count 4–8 weeks from offer to escritura.
7. After the purchase
Switch utility contracts, declare to Spanish tax authorities, take out home insurance. MCA Casas Mallorca handles it all for you.
FAQ
Do I need Spanish residency to buy?
No. Any foreigner can buy in Spain without restriction, with or without residency.
How long does a purchase take?
Typically 2 to 3 months between accepted offer and handover.
Can I buy remotely?
Yes, through a notarised power of attorney. MCA Casas Mallorca manages the full process.