Cost calculator for the construction or purchase of a vacation home - Calculate Now
With the real estate cost calculator to the simple house purchase in Mallorca
Meanwhile, Spain - and especially the Balearic island of Mallorca - is one of the most popular investment cases in terms of real estate. Whether it is vacation real estate, residential real estate or commercial real estate: for many Germans Mallorca in terms of real estate investment is currently almost as interesting as for the beach vacation. And thus each year zigtausende, the approximately 4 million annual, German Mallorca visitors decide also directly for its own domicile on the island.
This circumstance should make themselves clever real estate investors now absolutely use. Especially for this topic, we of Mein-Onlinerechner provide you with the free Mallorca real estate online calcul ator, which we would like to explain to you in more detail below.
What types of Mallorca real estate are there?
The sun-drenched Mediterranean island of Mallorca captivates especially by a generous offer of fincas - so called the Mediterranean and in the original charm preserved country houses on the island. Those offer to the buyer often an attached, agricultural property as well as pools. Another form of real estate in Mallorca are apartments, which are 1- to 4-room apartments. Furthermore, you will find in Mallorca also row and village houses and commercial properties in the form of stores and warehouses.
What you should look for when buying real estate in Mallorca
On the following things you should pay attention in the context of a real estate investment in Mallorca absolutely:
- You need a Spanish tax number (the so-called N.I.E. or also: Número de Identificación de Extranjero
- set up a Spanish bank account
- Financing via Spanish banks currently costs around 3.00 percent mortgage interest and around 40 percent equity capital must be contributed to the financing.
- You need a German-speaking, Spanish lawyer for real estate law (Spanish: Abogado)
- Incidental purchase costs of around 10 percent must be included in the calculation.
- Real estate transfer tax is staggered (up to 400,000 euros investment you pay 8 percent, from 1 million euros investment you pay 11 percent trade tax)
The cost of a real estate investment in Mallorca
Depending on the type and size of the planned real estate investment, income properties in Mallorca are currently available from about 50,000 euros upwards. Smaller stores for rent are available from about this amount. Apartments and smaller terraced houses cost on the island at least 100,000 euros - for fincas and larger country villas are currently around 250,000 to partly over 1 million euros due.
To the costs mentioned the real estate purchase are to be added the purchase additional expenses at a value of approximately 10 per cent. These consist of the notary costs, the trade tax as well as the change of the land register entry.
For some properties, there are also brokerage fees and costs for your own lawyer for real estate law. It is also important to plan a certain reserve for unforeseen costs. Also, the search for the right tenant in Mallorca is sometimes costly - a small advertising budget should therefore also be planned.
How our free real estate calculator for Mallorca real estate can help you
With the free Mallorca real estate calculator you can calculate your individual costs for real estate investments on the Balearic island. For this purpose, the calculator tool provides you with the following parameters, which are used to calculate the actual costs:
- Purchase price of the real estate in Euro
- Incidental purchase costs (business tax, notary fees, etc.)
- Equity share
- Mortgage interest rate
- Financing type (annuity loan, amortizing loan or bullet loan)
- Size of the property in square meters plus adjoining property
- Expected cold rent in euros per square meter
- expected rent increases within the next few years
- renovation and maintenance costs to be planned
The free real estate calculator for Mallorca real estate will ultimately help you to find out to what extent your individual investments in Mallorca is profitable for you. Use the practical calculator tool, for example, to calculate the free cash flow after taxed rental, which can result from your real estate investment. However, please do not make any purchase or investment decisions based on the cost and return calculator, this calculator only serves as a first estimate of the real estate costs.
Where to find further contacts regarding Mallorca real estate
Use for example but also the following contacts for the planning, implementation and management of real estate in Mallorca:
- Immobilienscout24 (also on Mallorca one of the most popular real estate portals)
- Immobilien Portal Mallorca (largest real estate agent and real estate rental portal from Mallorca)
- Mallorca Zeitung (advertise your individual real estate investments for rent here)
- VACATION HOME BOOKING TOOL AND CALCULATOR WITH BOOKING CALENDAR
Similar Calculator Topics: Real estate, asset, investment, foreign country, capital investment, vacation Homes, vacation apartment, vacation
