Page 54

MARKET REVIEW

An insider’s perspective on the housing sector The Mallorca experts at Balearic Hideaways have put together a quick overview of the property market in Mallorca for first time buyers. Find out where to look for a rural or an urban lifestyle, and where to find the best value for money. According to the prestigious real estate agency’s forecast for 2017, the future of the property market in the Balearic Islands is better than rosy. Despite the crisis and the resulting scepticism from investors, the past three years have seen a constant demand for both primary residences and holiday homes. There are many different reasons for wanting a home in Mallorca. For a start, there is the beauty of the Island that offers an unparalleled quality of life and a wide range of opportunities, and there is also the excellent infrastructure that attracts foreign investors. Good direct flights all year round, the number of international schools, the capital, Palma, with its wide ranging cultural activities, first-class restaurants, and sporting and leisure opportunities all play a decisive role. Neither Marbella, the Côte d’Azur or Sardinia come close. The most popular stretch of coast is the South-West, from Palma to Illetas, Puerto Portals and Costa d’en Blanes through to Puerto de Andratx. Son Vida, not far from Palma, remains the most prestigious location on the Island. Prices there range from 1.5 to 30 million euros.

54 DELUXE

Older properties are cheaper, but the cost of renovation must be taken into account. Cas Catalá, Bendinat and Illetas are all close to the centre of the city, and to Puerto Portals marina and a number of golf courses. Villas here go for between 1.5 and 5 million euros. Properties with sea views are real gems. Illetas offers predominantly apartments, and for 100m² with a sea view you will have to fork out 650,000 euros. In Puerto Portals, there is very little on the market. Apartments near the harbour start at 800,000 euros and are guaranteed to hold their value. Costa d’en Blanes, which is situated above Portals harbour has villas with panoramic views of the coast – from 1.3 million euros. Santa Ponsa is very popular because of its realistic prices and value for money. Villas with four to six bedrooms, garden, pool and first-class fittings can be found from 3.5 million euros. A 100m² apartment in a complex starts at 500,000 euros. Puerto de Andratx has a very international clientele. The price per square metre starts at 2,500 and goes up to 6,500 euros. In Palma, the Santa Catalina quarter and the historic Old Town are seen as good invest-

ments. Portixol, Molinar and Ciudad Jardín are very popular with Scandinavians. The reason for this is its original and at times Bohemian atmosphere, with small restaurants and shops in quaint surroundings. The price per square metre varies from 2,500 euros in Santa Catalina to 8,500 euros for coastal properties in Portixol and Molinar. Refurbished town houses in the Old Town can command 10,000 euros per m². There is a large range of traditional local houses to be found. In Puerto de Sóller, Santa Maria, Alaró, Binissalem, Pollença, Alcúdia, Artá, Son Servera, Cala D’Or and Santanyí to Llucmajor, the coastal region offers views over the Bay of Palma. Fincas in good condition are available from 500,000 euros. A manor house with land can set you back more than 10 million euros. Villas in the coastal region of Llucmajor go for between 1.2 and 5 million euros. What should you do if you want to settle down on the Island, either permanently or temporarily? First of all you need expert advice. Attractive, high-gloss photos and property descriptions are only one part of the puzzle. When advising clients we go over with them their style of living and check the desired property before they view it themselves. How well a property will hold its value, the infrastructure of a particular location, schools, medical facilities, tax advice and the provision of services like cleaning, and garden and pool maintenance all play their part. “This is where we excel,” says Jörg Stepputat, sales consultant at Balearic Hideaways. “Acting on behalf of our clients and in cooperation with selected, professional agencies, we commit ourselves to negotiating the best possible price for a property and following it through to the right conclusion in every respect. We work exclusively for the purchaser and act only in their best interests. Our provision of services for owners of a property in Mallorca builds on the successful relationship we have formed during the purchasing process. Ownership Assistance is the logical continuation of our shared journey. We have found the property, secured it together, and now the client should be able to enjoy it care free. To that end we help you with all questions and requests related to owning property and life in Mallorca and the Balearics.” As seen At bAleAric-hideAwAys.com

Deluxe Mallorca summer 2016  
Deluxe Mallorca summer 2016  

Featuring exclusive interviews with Bernd Kussmaul, Norbert Dobeleit, Timo Glock and fashion blogger Laura, new hotels, beach bars and resta...