The Formula 1 legend, 49, was placed in a medically-induced coma following the horrific accident in December 2013 in the French Alps.
He has been receiving around-the-clock treatment at his family home on the shores of Switzerland’s Lake Geneva since September 2014.
But the German star is now expected to be moved to a luxurious gated estate on the Spanish island of Mallorca, according to local media.
The exclusive property on the upmarket estate of Las Brisa, in Mallorca’s Andratx region, boasts two large gardens and two swimming pools.
Village mayor Katia Rouarch said: “I can confirm officially that Michael Schumacher will come to settle in our town.”
The plush mansion is believed to have been bought by Mr Schumacher’s wife for nearly £27 million (€30 million) last month.
It was put on sale by Real Madrid president Florentino Perez after the death of his wife Mari Angeles Sandoval.
Official updates from the Schumacher family have been few and far between since the accident.
It has been reported he is looked after by a 15-strong medical team, with his care costing £115,000 per week.
Additional reporting by Gerard Couzens
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