What a Balearic property actually costs

What's in the calculation

• ITP (Impuesto de Transmisiones Patrimoniales) — tiered Balearic transfer tax, 8% to 13% depending on the band. Computed slab-by-slab — see the dedicated ITP calculator for the breakdown.
• Notary fees — sliding scale set by national arancel, typically 0.3-0.5% of price with a €600 floor. We estimate 0.4%.
• Property registry — fees for registering the new owner in the Registro de la Propiedad. Typically 0.1-0.3% with a €400 floor; we estimate 0.2%.
• Legal / gestor — your lawyer or gestor for due diligence, contract review, NIE handling, and tax filing. Typical 1% + IVA, with €1,500 minimum.
• Buyer's agency fees — usually 0% in Spain (the seller pays the agency). Adjustable above for the rare buyer-side commission case.

What's not included

• Mortgage costs — appraisal (€400-600), arrangement fee (0.5-1%), and AJD stamp duty on the mortgage deed. If you're financing, add ~1.5-2% of the loan amount.
• NIE / power of attorney — €100-500 if your gestor handles it for you.
• Currency exchange — if you're funding in GBP, USD, etc., bank wire spreads can cost 1-3% vs. an FX broker like Wise or Currencies Direct.
• Annual taxes — IBI (municipal property tax), basura (waste), and (for Italian residents) IVIE. Use the IVIE calculator for the Italian wealth-tax piece.
• Snagging, furniture, renovation — outside scope here. For renovation budgeting on Mallorca, factor €1,500-3,500/m² for full reform depending on finish.

Typical totals

For a second-hand purchase in the Balearics, expect total fees and taxes of 10-12% on top of the purchase price for properties under €1M, rising to 13-14% on the €2M+ band where the top ITP rate kicks in. Cash buyers without a mortgage stay at the lower end of those ranges.