Mallorca is an island paradise in the heart of Europe. It has 262 beaches totaling 50 kilometers, with dreamlike landscapes. Air connections with the main European cities. A large community of foreigners that turn the island into a cosmopolitan enclave. Not to mention all the benefits of living in a country like Spain: social security, legal security, democratic country, integration with Europe, etc.
Why buy a villa or property in Mallorca? Because, you can buy in a paradisiacal enclave in one of the main countries of the European Union. Which makes it an ideal place to invest. Making it difficult for prices to devalue in the long term.
However, there are several things to consider before buying in Mallorca. Apart from all the usual things to consider when buying in Spain, you also have to think about:
The real estate market on the island is very aggressive.
The real estate market in Spain is liberalized. This means that there is little control and often little legal and technical security in certain phases of the sale or purchase process. For example, there is no obligation for a real estate agent to be professionally registered. Being many times the “Agent” with whom you contact, not a real estate agent, but a mere representative.
This can lead to real problems, caused by people who really want to help but don’t know how, even real frauds. At other times, problems may arise that we cannot detect with reasonable diligence. However, they must be addressed and an attempt must be made to remedy them, as in the case of hidden defects. All this is always more complicated in a very aggressive market such as that of the islands. Because, whenever you can win a lot, you can also lose a lot.
In Spain, beaches are always public.
On the Spanish coast, there may be offers of Villas or urbanizations with private beaches. This does not exist. There are no private beaches in Spain and no one can prevent anyone from accessing a beach. Even so, there are always special cases. In matter of fact, there are notorious cases of private urbanizations obliged to let the public access to beaches.
Mallorca has suffered several phases of uncontrolled urbanization in the past.
Mallorca has suffered several phases of uncontrolled construction in the past. As a result, there are a greater number of real estate irregularities on the island. Irregularities that can be innocuous for the buyer or that can be a real nightmare once the purchase is made. Therefore, if it is already necessary to check certain things when buying a villa or detached house, in certain areas it is even more important. For that reason, it is necessary to do in any sale and purchase in Mallorca:
- Review possible urbanistic affectations.
- Technical investigation by an independent architect.
- Compare prices and make an independent valuation.
- Legal analysis of the situation of the property in the Property Registry.
- Review the adequacy of the construction in the Cadastre and in the Land Registry.
- Hire an independent lawyer to assess risks and secure the investment.
Existence of illegal construction sites and illegal buildings.
On the island of Mallorca it is necessary to verify the buildings and their legality since it is usual to find works carried out illegally. This means that you can find parts of a property, not registered in the Land Registry. Some of these works can be legalized and for others it will be more difficult. It is also possible to find completely illegal buildings, which do not comply with the town planning regulations. It is even possible to find parts of a house or villa legalized in a different way to its real use, for different reasons.
In any case, it is important that the buyer knows the real situation of what he is going to buy. That is why it is the aim of any responsible lawyer and a deontological obligation, that his client has all the possible and real information. This is essential for the client to be able to make an informed decision.
Finally, it is not an impossible mission to buy in Mallorca. A lot of transactions take place every day. However, besides to the natural risk of any purchase and sale, we must take into account the particularities of the area. This ranges from checking that a fantastic villa in an idyllic location does not have termites, to making sure that what is being sold is legal. That is why it is always essential to have an independent professional looking out for your interests.
