Luxury on Mallorca has many faces - from stylish natural stone fincas to modern architect-designed villas with sea views. But what does such a property actually cost? In addition to the purchase price itself, many factors play a role that buyers should be aware of from the outset. After all, those who are clear about the total costs will make better decisions.
1. the purchase price - location determines the value
The range is wide:
In addition to the area and architecture, the location is the decisive factor - sea views, privacy and proximity to infrastructure have a strong price-determining effect.
2. ancillary purchase costs in Spain
Anyone buying a property in Mallorca should expect additional costs of around 10-13 % of the purchase price. These are made up of:
3. ongoing costs after the purchase
Luxury properties also entail maintenance costs, such as for:
4. refurbishment, furnishing, modernisation
Older fincas or unfurnished new builds in particular incur additional expenses. High-quality furnishings, interior design and smart home equipment can quickly run into six figures - well worth it for comfort and value retention.
5. tax aspects & letting
Special tax regulations apply to non-resident owners. Anyone who wants to rent out the property for tourism also needs a licence - which is currently restricted. Tax advice before buying is essential.
Conclusion
Buying a luxury property on Mallorca is a worthwhile investment - but also comes with responsibilities. Those who plan holistically from the outset, realistically assess the ancillary costs and seek good advice will ensure that the investment brings lasting pleasure.