For sale · Cala d'Or · Mallorca
Four villas with a tourist licence in Cala d'Or, already earning
Up to 9 % net yield (2027 projection) backed by real 2025–2026 operating figures. From €625,000 per villa, or the whole company with the four for €2.5M with no transfer tax.
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4
villas with ETV licence
625.000 €
per villa (€2.5M for the four)
202 k€
net operating income, 2026 (10 months)
7,5–8,1 %
actual net yield 2026
9–9,8 %
projected net yield 2027 (normalised)
680.000 €
a fifth identical unit already sold
Why these villas
A licence that can no longer be obtained
The four villas hold an ETV tourist licence from before the Balearic moratorium, which suspends new licences and their transfer. Whoever buys them buys a regulatory barrier that protects both the value and the rental income.
A business already running
Holiday rental on Booking.com, Bookiply, Airbnb and VRBO plus direct bookings. July and August 2026 closed at 93.5 % and 88.7 % occupancy with average rates of €556 and €654 per night. Every figure comes from the channel manager and utility invoices.
A price already validated
A fifth, identical unit in the same complex has been sold and paid for at €680,000. Market comparables in the area range from €670,000 to €725,000. The four are offered at €625,000 each.
Two ways to buy
Option A: buy the single-purpose company that owns the four villas for €2.5M, with no transfer tax (a saving of around €200,000) and the business intact. Option B: buy one or more villas directly at €625,000 each plus the usual 8 % transfer tax.
Real operating results
2025 covers April to October (first season). 2026 covers March to December, with bookings confirmed to year end. 2027 is the dossier's normalised projection (full year, +15 % revenue) and is labelled as such.
| 2025 (actual) | 2026 (actual) | 2027 (projected) | |
|---|---|---|---|
| Gross revenue | 234.698 € | 277.336 € | 328.850 € |
| Net revenue (after channel fees) | 193.987 € | 227.255 € | 269.467 € |
| Net operating income (NOI) | 169.293 € | 201.870 € | 244.083 € |
| NOI margin | 72,1 % | 72,8 % | 74,2 % |
| Nights sold · occupancy | 551 · 37,7 % | 597 · 40,9 % | — |
| Average rate per night | 426 € | 465 € | — |
| Net yield, direct purchase | — | 7,5 % | 9,0 % |
| Net yield, share deal | — | 8,1 % | 9,8 % |
Net yield = NOI / investment. Annual operating costs of the four villas in 2026: €25,385 (community fees, electricity, maintenance, IBI, waste, water, internet). Before staff and cleaning, insurance, financing and taxes.
The villas
Four detached villas with identical layouts in the private complex La Perla de Cala d'Or (Santanyí), with two communal pools and gardens. Each villa: about 125 m² built over two floors, five double bedrooms and two full bathrooms, living room, kitchen, laundry, wide terraces, own parking space and the option of a private garden.
- 125 m² over two floors
- 5 double bedrooms · 2 bathrooms
- Terraces and own parking
- 2 communal pools and gardens
- Free of occupants, full ownership
- Data room: bookings, invoices, editable calculator
Prefer to talk?
Alexandre Guardia · Invernova Real Estate. Visits to the villas and access to the data room under NDA.
Get the full dossier
Seven pages with the real profit and loss, the two purchase options and the tax detail. We send it to your email right away.
The 2025–2026 figures come from the channel manager (Smoobu) and utility invoices; the 2027 figures are a projection and are identified as such. This page is not a binding offer nor tax advice. Subject to due diligence and confidentiality agreement. The transfer tax (ITP) saving under option A is subject to the buyer's own tax analysis (art. 314 LMV).