{"id":62914,"date":"2025-08-13T08:52:00","date_gmt":"2025-08-13T08:52:00","guid":{"rendered":"https:\/\/emprendix.com\/?p=62914"},"modified":"2025-08-13T08:52:00","modified_gmt":"2025-08-13T08:52:00","slug":"taxes-when-buying-a-property-in-mallorca-a-clear-guide-for-buyers","status":"publish","type":"post","link":"https:\/\/emprendix.com\/en\/taxes-when-buying-a-property-in-mallorca-a-clear-guide-for-buyers\/","title":{"rendered":"Taxes When Buying a Property in Mallorca: A Clear Guide for Buyers"},"content":{"rendered":"
If you are thinking about buying a house or apartment in the Balearic Islands, it\u2019s important to understand exactly what taxes you will pay when purchasing a property<\/strong>. Below, we summarise the key taxes (depending on whether it\u2019s a new build or a resale), practical examples, and the main available deductions. Working with a gestor\u00eda in Palma de Mallorca<\/strong><\/a> or a tax advisor in Palma de Mallorca<\/strong><\/a> can help you optimise the total cost and avoid mistakes.<\/p>\n Official reference: ATIB (form 600 \u2013 code DN4) indicates a 1.5%<\/strong> rate for deeds of sale subject to VAT.<\/p>\n Purchasing a resale property in the Balearic Islands is subject to Transfer Tax (ITP)<\/strong> with progressive rates<\/strong> applied to the deeded or market value (whichever is higher):<\/p>\n Official source for Balearic ITP brackets: ATIB.<\/p>\n The deed of sale<\/strong> for a resale property (subject to ITP) generally does not incur the variable rate<\/em> of Stamp Duty. Stamp Duty does apply<\/strong> to the mortgage deed<\/strong> if you finance the purchase, with a standard rate of 1.5%<\/strong> on the mortgage liability in the Balearic Islands.<\/p>\n Total ITP<\/strong>: \u20ac41,000<\/p>\n<\/div>\n1) New build property<\/h2>\n
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2) Resale property<\/h2>\n
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What about Stamp Duty on resale properties?<\/h3>\n
Reduced ITP rates and deductions (subject to requirements)<\/h3>\n
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3) Tax summary by property type<\/h2>\n