“The Mallorca property market is the most stable in Spain, and one of the most stable in all of Europe” – Spanish Hot Properties. High-end properties and services have been developed on the island over years around an already existing beautiful and easily accessible location.
El Mago - One of the many beautiful coves scattered around the coast
What makes the island so inviting to exclusive property hunters?
Starting with the physical attraction of the jewel of the Balearics - Mallorca boasts countless stunning beaches with white sands and turqoise blue waters along with small, quiet, picturesque coves.
Dotted along the coast are numerous marinas including the infamous Puerto Portals that harbors the very sleekest yachts around. Its 2 Michelin Star restaurant - Tristans, several other up-market restaurants of various cuisines and fine collection of bars, cafes and shops give the port a lively, distinguished vibe.
Palma de Mallorca - the island’s capital and primary port is rapidly becoming more attractive to younger buyers and Euro commuters. The city is a chic, safe city with everything to offer. From its abundance of unique nightlife along the Paseo Maritimo, to the medieval quarter complete with cathedral and labyrinth of small streets containing small boutique shops, cafes and restaurants - to Jaime Tercero, Palma’s high street – home to countless exclusive designer outlets.
With over 53,000 EU residents (of which 19,000 are British), there are services available to satisfy almost all our home-comforts. From British Food Stores to
English Schools to fish and chips – there are endless remedies should you ever encounter the slightest sense of homesickness. Nevertheless, if all else fails - remember Palma International Airport is just a couple of hours away from home.
This is just a taster of what Mallorca has to offer but if you would like to find out more, please do not hesitate to visit The Other Mallorca after you have read our brief property report.
Some of the facts
Brits are still, after records started in 1970, the primary overseas buyers. Followed by Germany, France, Italy and South America.
Unlike other popular areas in Spain for buyers, Mallorca has resisted the urge to over develop the island. Instead, existing laws regarding planning approvals and property inspections have become stricter resulting in a limited supply of quality properties in heavily demanded locations. This guarantees any purchase of high end properties will prove to be a valuable investment in the future. Properties in some areas are even said to increase by 7 – 10% over the coming year. This is due to increased demand on new builds and massive current and future investments by the council in road, marina and golf infrastructure.
Having said that, quarterly statistics released by the Spanish Ministry of Housing indicate developments throughout Spain have fallen on average by 33 – 35% in 2007. In Andalucia, development fell by as much as 64%. However, planning approvals in Mallorca increased
Ending on a personal note
Having lived in Mallorca for 6 months now, I can definitely say I have caught the “Mallorca Bug”. I was told that it wouldn’t take long for me to get attached to the island and now I can certainly relate to that! The concoction of beautiful scenery, friendly atmosphere and Mediterranean climate is certainly spell bounding.
San Agustin Marina at dusk
Embraces Change, Challenges Traditions