How to Buy a Property in Menorca, Spain: A Foreigner's Guide
Buying property in Menorca, Spain, is an exceptional life investment. Owning a house on this beautiful Balearic Island – with its stunning beaches and relaxed lifestyle – is an opportunity that’s worth experiencing.
You qualify for long-term residency when you make a minimum investment of €500,000 in any property.
Like the rest of Spain, the property market in Menorca also had its ups and downs. While the economy makes sales fluctuate, the long-term appreciation is always steady, thanks to the permanent attractiveness of the island.
In this guide, we will lead you through the following:
Why Purchase a Home in Menorca?
See why Menorca differs from its larger Balearic cousins, like Mallorca and Ibiza:
- Beautiful Mediterranean Climate
- Over 300 Sunny Days in the Whole Year
- Mild Winters
- Warm Breezy Summers
Can Foreigners Buy Property in Menorca?
The answer is yes, Brits, along with all foreigners, can purchase property in Menorca, and there are no restrictions. Spanish law is friendly toward foreign ownership, including a Golden Visa.
Many British buyers are drawn to Menorca for the following reasons:
- Slower Pace of Life
- Scenic Coastal Towns
- Welcoming Culture
The process is straightforward: you’ll need to obtain a Spanish NIE (tax identification number) and open a local bank account to handle transactions. Although mortgages are available to non-residents, securing one typically requires a larger deposit compared to Spanish residents.
Finding a House in Menorca
The Menorcan property market can boast everything from rustic country houses to villas on the waterfront in the most exclusive locations. Be it a holiday retreat or primary residence, whatever the need there will be a property in tune with every taste.
Preferred areas include Mahón, with its lively harbour capital; Ciutadella, for historic ambiance; and more.
Top websites to search for Menorcan real estate:
