Urban Plot of 485m² with Expired Project in Santa Margalida
€230,000
Santa Margalida, Santa Margalida, Spain
485 m²
plot
Land
property type
2 weeks ago
listed
The Habio take
AI summaryThis urban plot spans 485m² and comes with an expired project, presenting a unique opportunity for development in Santa Margalida. The location is known for its charming rural landscape and proximity to the stunning beaches of Mallorca.
- investment
- walkable
- quiet
- coastal
Highlights
- 485m² urban plot
- Expired project available
- Potential for new development
- Close to rural scenery
- Near Mallorca's coast
Worth knowing
- Expired project needs reassessment
- Requires planning permissions before construction
Good fit for: Ideal for developers or investors looking for a project in a tranquil area.
Lifestyle scores
- Beach
- 80
- Walkable
- 70
- Remote work
- 50
- Family
- 40
- Retirement
- 60
- Airport access
- 60
- Investment
- 70
- Luxury
- 50
- Value
- 75
About this place
Urban plot of 500m2 with expired project in Santa Margalida.
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
