Transfer tax (ITP) in Illes Balears (2026)
The taxes and costs of buying a home in Illes Balears, resale or new build, with examples and a calculator.
Reviewed on 7 October 2026
ITP bands in Illes Balears
| Value of the home | Rate |
|---|---|
| Up to €400,000 | 8% |
| From €400,000 to €600,000 | 9% |
| From €600,000 to €1,000,000 | 10% |
| From €1,000,000 to €2,000,000 | 12% |
| Over €2,000,000 | 13% |
Each band pays its own rate, as with income tax: only the part of the value above each threshold pays the next rate.
Examples
| Price | Resale (ITP) | New build (VAT + AJD) |
|---|---|---|
| €100,000 | €8,000 | €11,500 |
| €150,000 | €12,000 | €17,250 |
| €200,000 | €16,000 | €23,000 |
| €300,000 | €24,000 | €34,500 |
| €500,000 | €41,000 | €57,500 |
If you are buying to let
Reduced rates in Illes Balears (young buyers, large families, people with disabilities…) usually require the home to be your main residence. If you are buying to let, you will normally pay the general rate. The rental income is then taxed under income tax (IRPF).
Buying-costs calculator
Taxes, notary, land registry, conveyancing and valuation
| Item | Amount |
|---|---|
| Transfer tax (ITP) · Illes Balears | €16,000 |
| Notary | €900 |
| Land registry | €600 |
| Conveyancing agent | €400 |
| Valuation | €350 |
| Buying costs9.1% of the price | €18,250 |
| Price plus costs | €218,250 |
Notary, land registry, conveyancing and valuation are average estimates. Banks usually lend up to 80% of the price (less if it is not your main home): the costs and the rest come from your savings.
Work out the return on this flatWhat return would a flat in Palma give?
With the median price and rent in Palma and the taxes of Illes Balears, in the ROInmuebles calculator: cash flow, yield and the money you put in.
Frequently asked questions
ITP in the other regions
What is the ITP rate in Illes Balears in 2026?
In Illes Balears, ITP on resale homes is banded: 8% up to €400,000, 9% up to €600,000, 10% up to €1,000,000, 12% up to €2,000,000 and 13% above €2,000,000.
How much ITP do I pay on a €200,000 flat in Illes Balears?
€16,000 of ITP if it is a resale home. With notary, land registry, conveyancing and valuation, buying costs come to about €18,250 (9.1% of the price).
What taxes does a new home pay in Illes Balears?
No ITP: it pays VAT at 10% on the price and stamp duty (AJD) at 1.5% on the deed.
Is there a reduced ITP rate if I buy to let?
Usually not: the reduced rates in Illes Balears are for buying your main home. If you are buying to let, the general rate applies.
Sources
General rates under the law in force in Illes Balears, without special reductions, reviewed on 7 October 2026.
Notary, land registry, conveyancing and valuation: ROInmuebles average estimates; they vary with the price, the mortgage and the notary.
Indicative estimate. Not tax advice: confirm the amount with your notary or conveyancing agent.