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Palma de Mallorca


Spain - Balearic Islands

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Palma de Mallorca - Balearic Islands

Palma de Mallorca is a resort city and the capital of the Balearic Islands. It is home to the majority of the inhabitants of Mallorca and has therefore kept its traditional atmosphere, where the hustle and bustle of tourists is not oppressive. In this idyllic city, the residents enjoy a quiet and peaceful environment where high-end hotels, luxury properties and old authentic districts are perfectly mixed up. Palma de Mallorca is renowned for its trendy nightlife but remains a calm haven of peace with an authentic street labyrinth, where a high quality of life is provided.

Listings in Palma de Mallorca
Market Overview

Les three main islands of the archipelago seduce even more buyers every year. Like in Spain, the Balearic real estate market has suffered from the international financial crisis. Prices were particularly cheap, even for luxury properties. Nowadays, the market is gaining strength and this is the perfect time to invest as the islands have a nice real estate offer in terms of upscale villas.

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Buying basics

Regarding the property purchasing process, the promise of sale is signed between a buyer and a vendor. an itemized list is attached to the promise of sale. This is a document of related transaction costs such as legal fee, property transfer tax, registration duty, notary fee and real estate agent's fee. Then, the buyer usually places a deposit of 10% of the property price on Notary account in order to guaranty the buyer's commitment. For the following step, the Notary must collect various documents such as the entitlement of the parties, the mortgage situation and even the property verification. He will draw up the deeds, the tax due and the registration of the names of the new owners in the Spanish property register and tax register. On completion of the sale of the real estate, the title deeds are registered with local land registry enabling the title to transfer to the new owner.
Before any purchase, it is encouraged to contact a professional of the real-estate market in the area to know the different steps of the buying process.

Agents in Palma de Mallorca

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Balearic Islands
Hotspots in Balearic Islands

The Balearic Islands is an archipelago in the Mediterranean see situated on the East side of Spain. There are eleven small islands and four main islands, which are Mallorca, Menorca, Ibiza and Formentera. The archipelago is situated at 88 kilometers away from the Iberian Peninsula. Since 1978, this set of islands is an autonomous community with more than one million inhabitants. The capital of the Balearic Islands is Palma de Mallorca, located on the main island. Famous for its sandy white beaches, its sunny days, its gastronomy as well as its unrivalled parties, these islands welcome every year millions of tourists. However, the Balearic Islands have succeeded in keeping its true identity. Away from upscale ...

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