Real Estate Brokerage at the Highest Level

Summer in Mallorca is more than just a season - it's a way of life. The largest island in the Balearic Islands attracts thousands of tourists and potential property buyers every year, drawn by its Mediterranean climate, picturesque landscapes and rich culture. But what makes Mallorca so special and what should you look out for when searching for a property? Let's take a look at the advantages and disadvantages of a summer stay on this beautiful island and give you some valuable tips for your property search.Advantages of a summer in Mallorca1. Mediterranean climateMallorca enjoys a Mediterranean climate with hot, dry summers and mild winters. The average temperature in summer is a pleasant 30 degrees Celsius. This makes the island ideal for outdoor activities such as swimming, hiking and sailing.2. Nature and beachesThe island boasts some of the most beautiful beaches in Europe. From the white sandy beaches in Cala Millor to the hidden coves in Cala Figuera - everyone will find their perfect beach here. In addition, the Serra de Tramuntana and other natural parks offer breathtaking hiking routes.3. Rich culture and historyMallorca is rich in history and culture. The capital Palma impresses with its Gothic cathedral La Seu, the Almudaina Palace and a variety of museums and galleries. Local festivals and markets offer insights into the Mallorcan way of life.4. GastronomyMallorca's culinary scene is diverse and high-quality. From traditional tapas bars to Michelin-starred restaurants, the island offers something for every palate. The local wines and olive oils are particularly noteworthy.Drawbacks of summer in Mallorca1. Tourist crowdsIn the summer months, Mallorca can get very crowded, especially in popular tourist destinations such as Palma, Magaluf and Alcúdia. This can lead to crowded beaches and long waiting times in restaurants.2. Price increaseThe high demand during the summer season leads to an increase in prices for accommodation and services. Property prices are also often higher in the summer months.3. Traffic congestionTraffic on Mallorca can be a challenge in high season. Traffic jams and a lack of parking spaces are not uncommon in the tourist hotspots.Property search in Mallorca: tips and tricks1. Early planningStart your property search early. The best properties are often snapped up quickly, especially in sought-after locations.2. Location, location, locationLocation is crucial. Consider whether you prefer a property near the beach, in the city or in a rural setting. Each region has its own advantages.3. Legal adviceCompetent legal advice is essential. Make sure that all documents and contracts comply with Spanish law and have them checked by an expert.4. BudgetingSet yourself a realistic budget and stick to it. Also take into account additional costs such as taxes, notary fees and possible renovation costs.5. VisitsSchedule on-site visits and take the time to inspect the property and the surrounding area in detail. Pay attention to possible defects and the general condition of the property.6. Long-term perspectiveThink long-term. Consider whether the property is also attractive in the low season and how the investment could develop in the coming years.A summer in Mallorca offers many advantages and some challenges. However, with the right preparation and the right information, finding the perfect property can be a successful and rewarding endeavor. Our real estate agency is at your side with its many years of experience and extensive network to help you realize your dream of owning your own home in Mallorca.

Whether you're looking for a vacation home, a villa by the sea or an apartment in the city, Mallorca offers a wide range of property options to suit all tastes and budgets. Here are some tips to help you find your dream property in Mallorca:1. Define your requirements: Before you start your search, it's important to define your requirements and wishes. Think about what type of property you are looking for, what features are important and what area you would like to live in.2. Research online: Use real estate portals and real estate agency websites to get an overview of what is currently available in Mallorca. Filter the results according to your criteria to refine your search.3. Hire a local real estate agent: An experienced local real estate agent can help you find the best deals and make the buying process go smoothly. They have local market knowledge and can give you valuable advice.4. View different properties: Take time to view different properties in person. Take notes and make sure that the property meets your requirements.5. Clarify legal and financial issues: Before you buy a property, it is important to clarify all legal and financial issues. Find out about the local laws and regulations for buying property in Mallorca and make sure you have sufficient financial resources.6. Negotiate the price: Be prepared to negotiate the price of the property. A good real estate agent can help you negotiate a fair price that is acceptable to both you and the seller.7. Plan the move: Once you've found the perfect property and the purchase is finalized, it's time to plan the move. Organize the transport of your furniture and personal belongings and take care of all the necessary formalities.With these tips, your property search in Mallorca should be a complete success. Enjoy the beauty of the island and find your dream property in this Mediterranean paradise!

Celebrate St. John's Night 2024 in Mallorca: traditions, customs and festivitiesSt. John's Night, also known as 'Nit de Sant Joan' in Mallorca, is a fascinating festival that is celebrated every year on June 23 and offers a mix of Christian and pagan traditions. This year, St. John's night in Mallorca promises to be an unforgettable experience full of joy, music and fireworks. Here are some of the highlights you can expect during the celebrations:1. Fires: The centerpiece of the St. John's Eve celebrations are the traditional fires that are lit throughout the island. These fires, known as 'foguerons', have a long history and symbolize the victory of light over darkness. People gather around the fires, singing and dancing and enjoying the warm atmosphere.2. Fireworks: St. John's night is also known for its spectacular fireworks displays that light up the sky over Mallorca. From large municipal fireworks displays to small, private displays, there are breathtaking fireworks displays to admire all over the island. A particular highlight is the firework display on the beach, where the sparks dance across the sea and create a magical backdrop.3. Traditional customs: In addition to the fires and fireworks, there are also many traditional customs to discover during St. John's Eve. These include the burning of straw dolls, jumping over fires and the gathering of medicinal herbs, which have a special significance on this day.4. Music and dancing: St. John's Night is also a time for music and dancing. Concerts and live performances take place in the streets and squares of the island, where locals and visitors can celebrate and dance together. From traditional Mallorcan music to modern beats, there is something to suit every taste.5. Culinary delights: Of course, the St. John's Eve celebrations are not complete without culinary delights. Try local specialties such as 'coca de Sant Joan' (a traditional pastry), grilled fish or seafood and enjoy a refreshing gin and tonic or a traditional hierbas liqueur.St. John's Night in Mallorca is a unique opportunity to experience local culture and tradition and celebrate with locals and visitors alike. Don't miss out on this magical event that you will remember for a long time to come!

The first clarification of tax issues in connection with a property in Mallorca concerns the distinction between whether you are acting as a legal entity, e.g. on behalf of a company, or as a natural person. In addition, it is decisive whether you are registered as a resident in Spain or not. One-off taxes:Property transfer tax: From 01.01.2023, new regulations for property transfer tax will apply in Mallorca. The first €400,000 of the property purchase price is subject to a property transfer tax of 8%. For the amount from €400,001 to €600,000 of the purchase price, a real estate transfer tax of 9% will be charged. Between €600,001 and €1,000,000 of the purchase price, the real estate transfer tax is 10%. Between €1,000,001 and €2,000,000 of the purchase price, the land transfer tax is 12%. If the purchase price exceeds €2,000,001, a real estate transfer tax of 13% is payable.VAT: Real estate transfer tax is payable on the purchase of a second-hand property and value added tax (IVA) on the purchase of a property for first occupation. The applicable tax rate depends on the type of property. For residential properties including garage spaces (maximum 2 per residential unit), the IVA rate is 10% of the purchase price. For the purchase of land from a commercial business and the purchase of commercial property, the tax rate is 21%. Current taxes payable annually:Property tax (IBI): The property tax liability extends to the owner, leaseholder and usufructuary of the property. The municipalities determine the amount of property tax, which ranges between 0.4% and 1.1% for developed properties and between 0.3% and 0.9% for undeveloped properties throughout the country.Wealth tax: Wealth tax in Mallorca is a tax levied on a person's total assets. Both residents and non-residents must pay wealth tax in Spain. The amount of tax depends on the amount of assets held in Spain. Residents often have higher allowances than non-residents. Since 2024, these are currently EUR 3,000,000 per person. Wealth tax is usually due once a year and must be declared in the income tax return.Income tax (IRPF): In Spain, there are both regional and national income taxes payable by individuals and companies. For residents of Mallorca, special income tax rates apply depending on the amount of income. There are also various deductions and allowances that can be claimed individually. For non-residents who receive income from Spain, other tax rates and regulations generally apply. It is advisable to seek advice from a tax advisor to ensure that all tax obligations are met and possible benefits are utilized.If the seller of the property is a company, corporation tax of 25% or 30% must be paid on the profit made in addition to trade tax. However, if the owner is a natural person, the profit from the sale of the property is subject to income tax. Different tax rates apply for residents and non-residents. The profit is calculated from the difference between the original purchase price and the current sales price. As you can see, there are a number of tax aspects to consider when buying a property in Mallorca. We therefore recommend that you address this issue as part of the purchase process and consult a tax advisor. If you need a recommendation, please get in touch with your contact person. This will provide you with comprehensive information on Spanish real estate and tax law.