Real Estate Lawyer Specialist in Mallorca

When buying a second-hand property, the Property Transfer Tax (ITP) is paid, which ranges from 6% to 13% depending on the autonomous community. For new homes, VAT (10%) is applied. In the sale, the seller faces the Municipal Capital Gains Tax (Plusvalía Municipal) and, if there is a gain, the Income Tax (IRPF).

Limited-price housing is a property subject to sales and rental price restrictions imposed by the government to facilitate access to housing. Typically, these properties are intended for lower-income groups and usually have specific conditions for use and sale during a defined period.

The Balearic Islands real estate agents registry is a mandatory register that certifies that professionals in the sector meet legal requirements, training, and liability insurance. Its purpose is to protect consumers by ensuring that real estate transactions are conducted with safety and transparency.

To sell a property, the required documents include the property deed, a simple property registry certificate (nota simple registral), the energy efficiency certificate, the latest property tax receipt (IBI), the certificate of debts with the homeowners association (if applicable), and the certificate of habitability, among others.

It is not mandatory to register a property in the Property Registry, but it is highly recommended. Registration guarantees the legal security of the property and protects the owner against third parties. Additionally, it facilitates obtaining financing and prevents legal issues in case of a sale or inheritance.