Arguably the Mediterranean's most exclusive capital — a Gothic cathedral, a historic old town and one of Europe's priciest property markets
Selling in Palma requires an agent with an international network — the German market is the largest, but Swedish, British and American buyers are also well represented. Homes in the old town or with sea views sell fastest.
Why Palma?
Sell property in Palma — the market for sellers
Considering selling property in Palma? Selling in Palma requires an agent with an international network — the German market is the largest, but Swedish, British and American buyers are also well represented. Homes in the old town or with sea views sell fastest.
As a seller in Palma, you typically face an international pool of buyers — that is an advantage, as it significantly widens your potential audience beyond the local Spanish market, but it also requires marketing that speaks to foreign buyers. Selling property in Palma requires a strategy aimed at international buyers.
What is your property worth in Palma?
The price level in Palma ranks as one of the most expensive and exclusive a markets compared with the rest of the Mallorca. An apartment typically sells in the range of 300,000-700,000 EUR, while a house sits around 450,000-900,000 EUR and a villa from 800,000 EUR and up to several million — but the exact right price naturally depends on condition, location and views.
We recommend getting an independent valuation from a local agent who knows Palma, as well as comparing with actual completed sales in the area — not just asking prices, which are often set high for negotiation purposes.
How to sell your property in Palma
Start by gathering the necessary paperwork: the title deed (título de propiedad), the most recent IBI receipts, the energy certificate and documentation of any community fees. Without these in place, a sale cannot be completed at the notary.
Then choose an agent with experience in Palma and ideally an international network — many buyers come from abroad and find the property via English-language or Scandinavian portals. Good photography and a realistic asking price are crucial for a quick sale.
Taxes and fees when selling in Palma
As a seller in the Balearic Islands you must pay plusvalía municipal — a local tax based on the increase in the cadastral value of the land since your purchase. In addition, Capital Gains Tax of 19% is paid on the actual profit for EU citizens, and 3% of the sale price is automatically withheld as advance tax if you are a non-resident.
Any gain from the sale may also need to be declared in your home country, but the double taxation treaty between Spain and most countries ensures that you do not pay full tax twice. Always seek advice from an accountant experienced in cross-border taxation before the sale.
Tips for selling property in Palma quickly and at the best price
To sell property in Palma as quickly as possible, you should highlight what is unique about your property: the la seu cathedral and a world-class old town is something many foreign buyers are specifically looking for in Palma.
Professional photography and home staging are essential for selling property in Palma at the best price — international buyers often decide based on photos alone. A good agent with experience in selling property in Palma is your most important partner.
What raises your sale price in Palma
Palma's biggest selling point is the combination of capital-city status, one of the Mediterranean's best-preserved old towns and an international airport connecting to all of Europe. Limited new-build in the historic centre keeps supply tight, which supports price growth.
Homes in Santa Catalina, the old town or with sea views over the bay typically achieve the highest price per square metre. The international, particularly German, buyer base makes Palma one of Spain's most liquid property markets for affluent buyers.
Frequently asked questions about selling in Palma
What tax do I pay when I sell my property in Palma?
You must pay plusvalía municipal to the town hall, as well as Capital Gains Tax of 19% on your profit as an EU citizen. If you are a non-resident, 3% of the sale price is automatically withheld as advance tax at completion.
How long does it take to sell a property in Palma?
With a realistic price and good marketing, properties in Palma typically sell within 3-6 months. Particularly sought-after homes with sea views or in popular areas can sell faster.
Do I need an agent to sell in Palma?
It is not a legal requirement, but it is strongly recommended — especially since a large share of buyers come from abroad. A local agent with an international network significantly increases your visibility and knows the local price level.
Can I sell my property in Palma without being in Spain?
Yes. You can grant power of attorney (poder notarial) to your lawyer, who can then represent you throughout the process, including signing at the notary, without you needing to travel to Spain.
What is plusvalía and do I have to pay it in Palma?
Plusvalía municipal is a local tax on the increase in value of the land under your property since your purchase. It is paid by the seller in all property transactions in Spain, including in Palma, and the amount is set by the local town hall.
Need help selling your property in Palma?
Contact us for a no-obligation chat about your options in Palma. We give impartial advice and help you move forward — whether you're just starting your research or ready to take the next step.
Contact us about Palma