Selling a house in Mallorca is a process that requires strategic planning and a thorough understanding of the real estate market to achieve the best possible outcome.
This is because Mallorca is one of the most sought-after regions in Spain, with a market that combines local and international buyers. Therefore, to get the best price for your home and avoid complications, it is essential to prepare the property well, know the necessary documentation, and understand the specifics of the area.
To help you along the way, we've written this article, which will guide you step-by-step through the process of successfully organizing the sale of your home in Mallorca. We'll highlight the most important aspects of the Mallorcan market and how to leverage them to your advantage. Let's get started!
Key steps to selling a house in Mallorca
When selling a house in Mallorca, it's important to follow a series of steps to ensure the process runs smoothly. Skipping any of them could complicate the transaction or even cause the sale to fail. So, here's what you should keep in mind:
Preparing the property for sale
The first impression is crucial when it comes to selling a home in Mallorca, so you should make sure your property is in the best possible condition.
It's essential to thoroughly clean every corner of the property and make any necessary repairs, such as fixing leaky faucets, repairing cracks in the walls, or replacing burned-out light bulbs. Good decor will also make a difference.
This is what is known as home staging, a technique that seeks to present your home in an attractive way to buyers.
This approach includes rearranging furniture, adding decorative elements, and maximizing natural light to make spaces feel larger and more inviting. Investing in professional photography is also highly recommended, as most buyers first view properties through online listings.
Documentation required to sell a house in Mallorca
If you want to successfully sell your house, you can't forget to gather the following mandatory documentation:
- Property deed
- Energy efficiency certificate
- Certificate of occupancy
- Latest local tax receipts (IBI, garbage, etc.)
If you don't have any of these documents or they need to be updated, we recommend contacting a local agent or notary. Planning ahead will save you time and potential delays during the purchase and sale process.
Assess the value of the property
Determining the right price for your home is key. Although you can use online valuation tools, it's best to seek the advice of a real estate professional who is familiar with the Mallorcan market.
A price that's too high could scare off buyers, while a price that's too low can lead to financial losses. A real estate agent or professional appraiser will help you set a competitive price, taking into account the property's condition, location, and current demand.
The real estate market in Mallorca
None of the above steps will be effective if you don't know the island's real estate market. If you don't know who your potential buyer is, how will you design a sales strategy? Don't worry, here we explain the key elements of the Mallorcan real estate market:
Factors that influence the price of houses in Mallorca
The price of a property is influenced by several factors, including:
- Location
- Surface area and condition of the property
- Local and international demand level
Additionally, market trends, such as increased new construction or regulatory changes, can also affect prices.
Most popular areas to buy a home in Mallorca
Among the most sought-after areas are Palma, Sóller, Pollensa, and coastal towns like Cala d'Or. These areas are especially attractive for both residents and foreigners looking for a second home.
Options for selling a house in Mallorca
To sell a house in Mallorca, you can choose two options: do it yourself or enlist the help of professionals. Below, we explain the advantages of each option:
Is it better to sell a house on your own or through an agency?
Selling on your own can save you the agency fee, but it requires more effort and time. You'll have to handle everything: advertising, visits, documentation, and negotiation.
On the other hand, if you work with professionals, they'll handle the process of attracting buyers, handling legal paperwork, and negotiating on your behalf, reducing stress and increasing the chances of closing a successful sale.
Advantages of hiring a local real estate agent
A local real estate agent has a thorough understanding of the specifics of the Mallorcan market. Thanks to their experience, they will be able to set an appropriate price, reach international buyers, and implement effective marketing strategies, such as listing on specialized portals or using home staging tools.
What taxes are paid when selling a house in Mallorca?
Among the main taxes you should take into account are:
- Municipal capital gains tax: It is calculated based on the increase in the value of the land.
- Income Tax (IRPF): Applies to profits obtained from the sale.
- Taxes for non-residentsIf you do not reside in Spain, you will have to pay a fixed percentage of taxes on your earnings.
How long does it take to sell a property in Mallorca?
The average time to sell a home depends on price, location, and demand. Generally, well-located and reasonably priced properties can sell within a month, although in high-demand areas this time may be even shorter.
What is the best time of year to sell a house in Mallorca?
Spring and summer are generally the best times to sell. They coincide with increased tourism and interest from foreign buyers, which can help you close the sale faster and at a better price.
At Top Mallorca we are specialists in selling houses in Mallorca.
Thinking about selling your house in Mallorca? You've come to the right place. At Top Mallorca, your real estate in Mallorca, we have years of experience helping homeowners like you sell their homes quickly and at the best price.
Our local team is intimately familiar with the Mallorcan market and offers a comprehensive service that includes professional appraisals, customized marketing strategies, and access to a broad network of national and international buyers.
If you want to sell your property hassle-free and with full guarantees, contact us! We're here to help.
