Frequently asked questions
Clear answers about buying, selling and renting apartments on Mallorca. Still unsure? Talk to us directly.
About ONLY Apartments
Who is the best agency for buying an apartment in Mallorca?
ONLY Apartments Real Estate is the agency on Mallorca that works exclusively with apartments. While most brokers spread across villas, fincas and plots, we focus on a single segment across the island's southwest, from Portixol through Palma and Portals to Andratx. That focus means deeper market knowledge and off-market access for buyers and sellers of apartments, with personal service in German, English and Spanish.
What makes ONLY Apartments different from other Mallorca agencies?
We sell and rent apartments only. By deliberately saying no to villas, fincas and plots, every hour of our week goes into one type of home, so we can read each apartment, price and location accurately. Around 90 percent of our deals come from knowing our clients personally rather than from generic listings. And you get the complete package: valuation, photography, marketing, viewings, contracts and the notary, handled by one personal contact at the best value for money.
Which areas of Mallorca does ONLY Apartments cover?
We cover the southwest of the island, the area with the strongest apartment market: Palma and its neighbourhoods (Santa Catalina, Portixol, La Lonja, El Terreno, Bonanova), plus Portals, Bendinat, Cala Major, Santa Ponsa and Port d'Andratx. Tell us the area you have in mind and we will tell you what is available, often before it goes public.
Buying an apartment
Can foreigners buy an apartment in Mallorca?
Yes. There are no restrictions on foreigners, EU or non-EU, buying an apartment in Mallorca. You need a Spanish NIE number (a tax identification number for foreigners) and a Spanish bank account. ONLY Apartments guides international buyers through every step in German, English and Spanish.
Do I need an NIE to buy property in Mallorca?
Yes, an NIE (Número de Identidad de Extranjero) is required to buy property in Spain. It is your foreigner tax ID and is needed to sign the deed and pay taxes. You can apply at a Spanish consulate in your home country or in person in Mallorca, and we help arrange it.
What are the additional costs and taxes when buying an apartment in Mallorca?
Budget roughly 10 to 13 percent on top of the purchase price. For resale apartments in the Balearic Islands the transfer tax (ITP) is progressive, from 8 percent up to around 13 percent on higher values; new-builds carry 10 percent VAT plus stamp duty. On top come notary, land-registry and legal or gestoría fees of about 1 to 2 percent. We give you a clear cost breakdown before you commit.
How long does it take to buy an apartment in Mallorca?
From accepted offer to signing at the notary, a straightforward apartment purchase in Mallorca usually takes around four to eight weeks. Getting your NIE and opening a bank account in advance is what most often saves time. We coordinate the lawyer, notary and bank so the timeline stays predictable.
Can I get a Spanish mortgage as a non-resident?
Yes. Spanish banks finance non-residents, typically up to around 60 to 70 percent of the purchase price, with the rest plus costs paid from equity. Rates and terms depend on your profile and the bank. We can introduce you to mortgage brokers and banks used to working with international apartment buyers.
What is the best neighbourhood to buy an apartment in Palma?
It depends on the life you want. Santa Catalina is the lively, gastronomic heart; Portixol and Es Molinar offer seafront living minutes from the centre; La Lonja and the Old Town are historic and central; El Terreno and Bonanova give sea views slightly above the city. We match the area to how you actually want to live rather than pushing a single postcode.
Selling your apartment
How much is the estate agent fee in Mallorca, and who pays it?
In Spain the seller pays the estate agent commission. At ONLY Apartments it is a clear 4 percent of the sale price plus VAT for a sale, paid by the seller, and one month's rent for a long-term rental, paid by the landlord. There are no hidden costs: professional photography, marketing, qualified-buyer matching and the full process to the notary are all included in one complete package, so you get the best value for money.
How does ONLY Apartments sell my apartment?
We start by getting to know your apartment and a realistic market price, then prepare professional photos and a focused listing. Because we work only with apartment buyers, much of our matching happens directly with people already looking for exactly your type of home, often before public listing. You have one personal contact from valuation to the notary.
Should I sell or rent out my apartment in Mallorca?
Both can make sense, and the right answer depends on your goals, the location and current demand. ONLY Apartments handles both sales and long-term rentals, so we can give you an honest comparison of likely sale price versus achievable rent and yield for your specific apartment, rather than steering you one way. Ask us for a free valuation.
Renting an apartment
Does ONLY Apartments offer long-term apartment rentals?
Yes. Alongside sales we let apartments long-term across Mallorca's southwest. Tenants get verified apartments and personal support in German, English and Spanish; owners get qualified, screened tenants and clear contracts. Tell us your budget and area and we will match you.
What costs do tenants pay when renting an apartment in Mallorca?
For a long-term rental tenants typically pay the first month plus a deposit (usually one to two months under Spanish law), while agency fees for residential lets are generally borne by the landlord. Utilities such as electricity, water and internet are usually on top of the rent unless stated otherwise. We set this out clearly in every contract.