NIE, notary, tax: the real cost of buying property in Mallorca
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Beyond the sticker price, buying in Mallorca adds 11–14% in costs. Here is the exact breakdown.
ITP (transfer tax)
Resale property, Balearic scale: 8% up to €400k, 9% €400k–600k, 10% €600k–1m, 11.5% up to €2m, 12% above. New builds: 10% VAT + 1.2% stamp duty.
Notary fees
0.3–0.5% of the price. State-set scale. For a €1m property: about €3,000–5,000.
Land Registry
0.2–0.4%. Mandatory for legal enforceability.
Lawyer
Optional but strongly recommended: 1% of price, usually capped. MCA Casas Mallorca works with trilingual specialist lawyers.
NIE
NIE cost with assistance: €150–300.
Example: €800,000 resale property
ITP: €68,000. Notary: €3,500. Registry: €2,500. Lawyer: €8,000. NIE + admin: €500. Total costs: ~€82,500 (10.3%).
Annual taxes
IBI (property tax): 0.4–1.1% of cadastral value. Waste tax: €100–300. Non-resident income tax: 1.1% of cadastral value × 19% (EU) or 24% (non-EU).