The rules have changed — but the opportunity in Mallorca has not
You had been planning your investment in Mallorca for months, and now Spain’s Golden Visa no longer exists. Does the opportunity disappear with it? Absolutely not.
On 3 April 2025, the Spanish government officially ended the Golden Visa programme, closing the route that since 2013 had allowed non-EU citizens to obtain residency in exchange for a real estate investment of €500,000 or more. But — and this is crucial — buying property in Spain remains completely legal for any foreigner.
At My Blue Mallorca, with nearly 20 years of experience advising international buyers, we have guided many clients through this process. This guide clearly explains what has changed, what has not, and how to move forward with your investment in Mallorca.
What was the Golden Visa and why did it end?
Launched in 2013 as a post-crisis measure to attract foreign investment, the Golden Visa programme allowed non-EU citizens to obtain Spanish residency by investing a minimum of €500,000 in real estate. According to data from Spain’s Ministry of Inclusion, 22,430 visas were issued up to early 2025, of which 94% were linked to real estate investments.
The government closed it arguing that the programme turned housing into a speculative business rather than a fundamental right, generating price pressure particularly in major cities such as Madrid and Barcelona.
An important nuance: the Golden Visa’s impact on the Mallorcan market was far more limited than in major cities. The luxury market in southwest Mallorca responds to its own structural dynamics that go well beyond any residency programme.
What has not changed: foreigners can still buy freely
This point is fundamental: the abolition of the Golden Visa does not in any way restrict the right of foreigners to buy property in Spain.
Both EU and non-EU nationals can purchase properties in Mallorca without any legal restriction. The only change is that such a purchase no longer automatically grants a residency permit to non-EU buyers.
- Property transactions remain 100% legal for any foreigner
- There is no restriction on the number of properties that can be owned
- Mortgage conditions for non-residents remain accessible
- International demand in Mallorca remains at very high levels in 2025 and 2026
Residency alternatives for international buyers
Non-Lucrative Residency Visa
Ideal for retirees or those with sufficient passive income (pensions, rental income, dividends). Requires demonstrating minimum income of approximately €2,400/month and does not permit working in Spain. The most common route for European and North American buyers.
Digital Nomad Visa
For remote workers generating income outside Spain. The minimum threshold is approximately €2,763/month from foreign clients or employers. Perfect for those combining remote work with life in Mallorca.
Entrepreneur Visa
Aimed at those who want to develop a business project in Spain. Requires a viable business plan and can be an excellent option for investors also seeking professional activity on the island.
Family Reunification Residency
If a direct family member is legally resident in Spain, this may be the simplest route to obtaining residency without needing to meet other financial requirements.
The Golden Visa was a fast-track, but it was never the only path. At My Blue Mallorca, we have spent years helping international buyers find their home in Mallorca with or without special residency programmes.
Expert Advice: what you need to know before buying in Mallorca as a non-resident
1. The NIE is essential
The Foreigner Identification Number (NIE) is the essential document for any real estate transaction in Spain. It can be applied for at the Spanish consulate in your home country or directly in Spain. We recommend arranging this well in advance.
2. Factor in purchase taxes
Buying a property in Mallorca carries additional costs of approximately 10–13% of the purchase price, including Transfer Tax (ITP) or VAT for new builds, plus notary and registration fees.
3. Local legal advice makes the difference
Working with a local lawyer specialising in real estate law is an investment that always pays off. At My Blue Mallorca, we work with a trusted network of professionals who can advise you throughout the entire process.
FAQ — Frequently asked questions after the Golden Visa ended
Can I still buy in Mallorca as a non-EU citizen?
Yes, absolutely. Buying property in Spain has no restrictions for foreign nationals, whether EU or non-EU. The only change is that the purchase no longer automatically grants a residency permit.
Is investing in Mallorca still worthwhile without the Golden Visa?
Of course. Mallorca’s investment appeal — especially the luxury market in the southwest — did not depend on the Golden Visa but on structural factors: limited supply, sustained international demand, exceptional quality of life and market stability.
Are buyers who held a Golden Visa still protected?
Yes. Those who submitted applications before 3 April 2025 can continue with normal processing. Current Golden Visa holders maintain their rights and can renew their permits under the same original conditions.
Mallorca remains the same outstanding opportunity
The end of the Golden Visa is a regulatory change, not a change in Mallorca’s fundamental appeal as a luxury real estate investment destination. Foreign demand remains at historic levels, supply is structurally limited, and the southwest of the island — our specialty — remains one of the most resilient markets in the Mediterranean.
If you have questions about how to proceed with your investment, or simply want to explore the properties available in Port d’Andratx, Calvià or any area of the southwest, the My Blue Mallorca team is at your disposal.
The end of one programme is the beginning of new opportunities. In Mallorca, there is always a path for those who know how to find it.