Buyer’s guide
Buying in Mallorca from abroad
Everything an international buyer needs to know to purchase a new-build home in Santanyí with confidence: paperwork, timings, taxes, and how El Mirador makes it straightforward.
The NIE: your identification number
Essential for signing any contract, opening a bank account or paying taxes in Spain. Apply at the Spanish consulate in your country or at a police station in Spain; your lawyer or agent can also obtain it with a power of attorney. Usual timing: one to four weeks.
A Spanish bank account
Makes stage payments, utilities, community fees and property tax straightforward, and is required for a mortgage. Most banks open accounts for non-residents with a passport, NIE and proof of income.
Reservation, private contract and deed
At El Mirador the process is the standard one for new builds: a reservation deposit that takes the home off the market, a private purchase contract with a payment schedule, and the public deed before a notary with handover of keys on completion. All stage payments are guaranteed under Spain’s Building Act (LOE).
Financing for non-residents
Spanish banks lend to non-residents, typically up to 60–70 % of the appraised value over terms of up to 20–25 years. Usual documents: passport and NIE, home-country tax return, payslips or company accounts, bank statements and a credit report. We can introduce you to banks used to working with international buyers.
Taxes and costs on a new build
On the price of a new home, as a guide:
| VAT (new build) | 10 % |
| Stamp duty (AJD) · Balearic Islands, general rate | 1.2 % |
| Notary, land registry and gestoría | ≈ 1 % |
Indicative figures at the time of publication; rates may vary with value and current legislation. Transfer tax (ITP) does not apply to new builds. Always confirm with your tax adviser.
Power of attorney and remote signing
If you cannot travel, you can grant a power of attorney to your lawyer or a trusted person to sign on your behalf. A power signed outside Spain must be apostilled and translated by a sworn translator. An interpreter may attend the signing if you wish.
After the purchase
Utility contracts, owners’ community, annual property tax (IBI) and refuse charge, home insurance and, if you will live here, local registration. As a non-resident you file the annual Non-Resident Income Tax for the property. We help you set everything up.
How we support you
Selling a home is only the beginning. A serious developer is measured by what happens after the reservation.
Spanish, English and German. Video call to walk through the home and answer questions before you travel.
Notary, gestoría, bank and utilities. One point of contact throughout.
Payment schedule, guarantees, floor plans and specifications always available on your home’s page.
Every cost explained before you reserve. What we don’t know, we ask those who do.
Shall we begin?
This guide is for information only and does not constitute legal or tax advice. Every personal situation is different: we recommend checking the information with an independent lawyer or tax adviser before signing.