Mallorca as a Second Home: Benefits & Pitfalls

Why Mallorca?

Mallorca, the pearl of the Mediterranean, has long been a magnet for second-home seekers. With its year-round mild climate, beautiful beaches, and excellent infrastructure, the island offers an ideal balance between tranquility and accessibility.

The Benefits of a Second Home in Mallorca

  • Quality of Life: Enjoy mild winters and a relaxed Mediterranean lifestyle.
  • Good Connectivity: Palma’s airport connects you to most major European cities within a few hours.
  • Investment Potential: Real estate on the island remains a stable investment with long-term value growth.
  • Health and Safety: High-quality medical services and a low crime rate.

Common Pitfalls and How to Avoid Them

  • Underestimating Costs: In addition to the purchase price, consider taxes, maintenance, and possible renovation costs.
  • Language Barriers: Legal documents in Spanish can be complex—work with bilingual experts.
  • Regulatory Challenges: Zoning laws and rental licenses must be understood before purchase.

If you plan to stay more than 183 days a year, you may be considered a tax resident of Spain. This can impact your income and wealth taxes. EU citizens have easier access, while non-EU citizens must comply with visa and Golden Visa rules.

Taxes, Fees & Ownership Models

Expect around 10–13% additional purchase costs depending on the property. Ownership can be direct or via a company—each with different tax implications. Always consult a local tax advisor before buying.

Conclusion

Owning a second home in Mallorca offers a dream lifestyle—but success depends on preparation. From legal clarity to cost transparency, make informed decisions to fully enjoy your slice of island paradise.