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Buy To Let In Mallorca - Advice
Before buying anything it is extremely important
that the general location should have been visited
on a few occasions since there is no substitute
for first-hand knowledge. Consider whether the property
is served by an adequate infrastructure, such as
airport, roads, utility supplies, shops and medical
facilities. In Mallorca of course none of these things
are generally a problem, as on an Island you are
never very far away from anything.
Should the property be a villa, chalet or
apartment? Should it be coastal or inland, in a
busy location or secluded? Consider the amount
of personal occupancy and what happens to the
property when not lived in (
Mallorca Property Management can help here ).
What is the attraction of the property in the eyes
of the tenant? Is there a tenant market for the
property? What funding is required? Can the property
be bought for cash? If not it may be appropriate
to take out a loan.
Remember that before you buy any property or carry
out any fiscal business or administration in Mallorca
or Spain, you need your NIE number, this is a personal
identification number assigned to only you. Once
you have your number you can then open a normal
bank account, get a contract for your Spanish mobile
phone, get utilities connected, buy your property,
car etc., etc. All of which we can help you
with if necessary. Please contact us for more information
and our charges using the form on this page.