The Real Cost of Buying Luxury Property in Mallorca (2026 Guide)
Buying luxury real estate in Mallorca involves more than the purchase price. Understanding the full cost structure is essential to avoid surprises.
Key Costs to Consider
•Property Transfer Tax (Resale): 8–11%
•VAT (New-Build): 10% + 1.5% stamp duty
•Legal Fees: ~1–1.5%
•Notary & Registry: ~0.5–1%
Ongoing Ownership Costs
•IBI (annual property tax)
•Community fees (if applicable)
•Maintenance, staff, security
•Non-resident tax (for non-Spanish residents)
Realistic Budget Planning
Most luxury buyers should allow:
10–14% above the purchase price
This ensures a smooth transaction and proper due diligence.
Transparency is a core part of how Prince Estates operates — because confidence comes from clarity.
