Expansive Rustic Land with Finca in Magaluf
€4,800,000€4,943/m²
Magaluf, Magaluf, Spain
4
bedrooms
4
bathrooms
971 m²
interior
115 m²
plot
Farm
property type
2 weeks ago
listed
The Habio take
AI summaryThis expansive 114,507 m² rustic land features an existing four-bedroom finca, ideal for redevelopment or investment. Situated in Magaluf, a vibrant tourist hotspot in Mallorca, this property offers significant potential in a sought-after location.
- investment
- renovation
- coastal
- tourist
- family
Highlights
- Over 114,000 m² of land
- Existing four-bedroom finca
- Located in a popular tourist area
- Potential for redevelopment
- Proximity to amenities and attractions
Worth knowing
- May require extensive renovation
- Land classification might limit development options
Good fit for: Ideal for investors or those seeking a large parcel of land in a lively area.
Lifestyle scores
- Beach
- 70
- Walkable
- 60
- Remote work
- 40
- Family
- 60
- Retirement
- 50
- Airport access
- 80
- Investment
- 85
- Luxury
- 55
- Value
- 70
About this place
We present a unique opportunity to acquire over 114,000 m² of rustic land classified as SR4-ATH, located directly in front of the former Aqua Park in Magaluf, one of the most popular and tourist-driven areas of Mallorca.
Buying property in Spain
Spain welcomes foreign buyers with no nationality restrictions. The buyer needs an NIE (Número de Identidad de Extranjero) before completion, and most buyers open a Spanish bank account to handle the deposit and ongoing charges. An independent lawyer (abogado) is strongly recommended — the notario only checks the deed, not the wider title.
- 1
Get an NIE
Apply for the foreign-resident tax number at a Spanish consulate, police station, or via a representative with power of attorney.
- 2
Open a Spanish bank account
Needed for the deposit, taxes, mortgage payments, and utilities.
- 3
Engage an independent lawyer
Lawyer runs title, debts, planning, and community-of-owners checks — the notario will not.
- 4
Reservation contract
Small deposit (€3,000–€10,000) takes the property off the market while due diligence runs.
- 5
Sign the contrato de arras
Private purchase contract with a 10% deposit. If the buyer pulls out they lose it; if the seller pulls out they pay double.
- 6
Sign the escritura pública
Final public deed signed before a notario; balance and taxes paid; keys handed over.
- 7
Register the property
Lawyer registers the deed at the Registro de la Propiedad and arranges utility and IBI transfers.
Spain ended its Golden Visa property route in April 2025. Non-resident mortgages are widely available, typically 60–70% LTV. Non-resident sellers face a 3% withholding from the sale price (retención), claimable against capital gains tax. Always check community-of-owners (comunidad) debts and outstanding IBI before completion — they transfer with the property.
General guidance only — confirm specifics with a qualified local lawyer or tax adviser. Reference
