I have just returned from a family holiday in Mallorca (Majorca) and, as usual, looked at prices, taxes, etc., for the type of property we were renting. It is useful to know that, if you buy a property there, you need to consider the following fees and taxes: notary fees and charges of the property register; 10% VAT on the purchase of new properties, known as Impuesto sobre el Valor Añadido; a purchase tax (Impuesto sobre Transmisiones Patrimoniales) which applies to an existing property (8% to 11.5% depending on value); ......
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