Mallorca Olive Press Property Magazine - issue 1

Property www.theolivepress.es

Mallorca Olive Press

www.theolivepress.es

May 25th - June 8th 2017

VISITORS: Cruise, Nicholson and Pfeiffer all stayed here

Issue 1

May 25th Palma - June 8th 2017 New Shop Beach

11

Your Leading Real Estate Expert on Mallorca

Tel. +34 971 23 85 84 www.engelvoelkers.com/mallorca

How to live like a Hollywood legend... oh, you’ll need a few million to start with

Brace yourselves

Busy summer ahead page II

Stringy sells Mirrored ceilings and all

pa see ge 3

page III

P

ROPERTY sales in Mallorca are at their highest for nearly a decade.

An incredible 1,355 sales were registered in March, which is an increase of 39.4% over 2016.

The second highest increase in Spain, British buyers make up 26% of the foreign sales, while Germans account for 40%.

On fire

Spain overall also had a fantastic year on year increase of 26.9%, recording

DEMAND for property in Mallorca is the highest in ten years, explains property expert Marc Pritchard.

The Taylor Wimpey Sales and Marketing Director has seen prices leap by up to 25% in some parts of the island since last year.

“Prices have gone up in Mallorca possibly even more than on the mainland,” Marc told the Olive Press.

“Demand is the best in ten years. It’s been going up since early 2016.”

One of the company’s developments in a ‘non-

touristy, traditional area’ near Alcudia has seen starting prices rise from €180,000 for a two-bed property to €220,000 in just one year.

Three-bed units started at €235,000 in May 2016 and are now at €300,000.

“The German market remains very strong, with the Swiss, Austrian and Swedish markets are also experiencing good growth.”

The company is working on half a dozen active sites and is the key developer on the island.

History hotels page IV

Mallorca market booming with 1,355 homes sold in March, while Spain sees growth of 27%

a massive 40,461 sales in March, the highest number since February 2011.

‘Some prices have leapt by 25% in a year’ - homebuilder

Where Di and Audrey stayed

Malaga saw an increase of 37% with 2,925 properties sold and also saw a 121% growth in new builds over the first quarter of the year.

The Andalucia region INVESTMENT by foreign buyers in the Bale- overall had excellent arics leapt by 30% in 2016, new figures growth figures of 28% reveal.

The data published by Spain’s Institute of above last year’s Registrars shows the islands having the rate, with 7,976 propbiggest growth of anywhere in the coun- erties sold, while Valencia registered try.

Around 2,700 of the 13,000 sales were for 5,854 sales and new properties, with the largest number Catalonia had 6,832 sales. Madrid regisof buyers coming from Switzerland. tered 5,684.

Foreign sales up a third

New Shop Palma Beach Now 17 Property Shops on the Island

Tel. +34 971 23 85 84 www.engelvoelkers.com/mallorca

Spain wins top award Pritzker prize page VI

xxxxxxx xxxxx

xxxxxxxxxxx page VIII

X 12

Property www.theolivepress.es

MORTGAGE PropertyTHINK January 18th - January 31st 2017

by mortgage broker Tancrede de Pola

Ready, steady, mortgage

M

UCH like its economy, Spain’s property market is on the up, and it has become the best time to buy in years.

But before approaching lenders or banks to finance your Spanish dream, read Finance Bureau’s Tancrede de Pola’s top ten must-do’s.

Hire a broker - Much better deals are to be had with someone who knows the business inside out fighting your corner.

Keep a low profile - Don’t apply for new credit around the time you are trying to get a mortgage, you may be considered a greater credit risk if you do.

Have your finances in order – When applying for a mortgage it is imperative that you can clearly demonstrate that you have the funds (typically 30% + closing costs) available for completion.

Be prepared - Make sure you have all the relevant documents you need, bank statements, NIE, proofs of income, credit report, the works, the Spanish love their documents.

Look the part - Start running your bank account as if you already have a mortgage at least three months before you apply - Avoid excessive spending, cut out subscriptions and memberships that aren’t essential and don’t splash the cash on betting or gambling.

Lawyer up - You need a good team behind you to avoid being cheated, this includes a good estate agent and a lawyer.

Reputation - Try to improve your credit score before applying, one tip: put all expenditures on a credit card and pay it off in full each month, ensure you are on the electoral roll.

Best product – Have in mind the type of mortgage you want. Your broker will advise as to the most suitable, given your circumstances.

Know your limits - Determine how long you want your mortgage term to be. You will pay less each month the longer it is, but bear in mind you will be paying more interest.

Be ready - Get a copy of your credit report to make sure it is correct and correct any errors, and to make sure you are not unpleasantly surprised if it’s bad news.

To contact Tancrede for all your mortgaging needs call: 666 709 743 or for insurance queries call: 951 203 540 Email: tdp@ thefinanacebureau.com

May 25th - June 2017 May 25th - June 8th 8th 2017

Keys Isl nd to the

By Amanda Butler

Brace yourselves!

M

AY in Mallorca has given us some fabulously sunny weather, and as the mercury rises visitor numbers seem to be matching the predicted upward trend for this year.

The centre of Palma was seriously busy this weekend with restaurants fit to burst and car parks overflowing... and we’re still only in Spring!

A reported 30,000 extra hire cars are due on the island's roads this year. Apparently they are needed, so we are all holding our breath for what is being predicted to be an even busier season than last year, which saw 13 million tourists visiting the Balearics.

To say I am concerned about the impact on the island’s infrastructure is an understatement!

As visitor numbers increase, it would be natural to anticipate increased numbers of property sales.

Well, according to the latest official statistics - after a slight dip in February of 3.4% (perhaps due to a rather wet and chilly month – but at least the empty reservoirs were replenished), the Balearics had the second highest number of sales in Spain for March, showing an increase of 39.4% of sales compared to 2016.

And, best of all, despite Brexit and currency fluctuations, etc, etc British buyers are still making up approximately

This summer is going to be a busy one, writes OP columnist Amanda Butler

26% of foreign sales, with the German market still the largest, accounting for 40%, with Scandinavians sneaking up from behind.

It is understandable, of course, that there may be some procrastination among the Brits due to the UK election in the coming weeks, but with the result currently looking like a foregone conclusion, it is thought the increased strengthening pound will not be affected too much.

Need a hotel So what’s been happening on the ground property wise? Well it’s been an interesting few weeks for MJC Associates.

We have been working on several requests for hotels in the Old Town of Palma, as well as the southwest with sea views – little change there!

With the current popularity of the island, anything of a substantial size is now being priced with wholly unrealistic optimism or has ‘just been’

snapped up by deep-pocketed Scandinavian investors it seems!

The last overpriced property we saw in the centre of Palma needed completely gutting and was being offered at €20m for only 3000 sqm! Hmmm dream on ...

So it's not an easy brief at this present moment, which is a shame since several international hotel groups have finally realised that Mallorca is THE place to be (perhaps too late?) – so if there's anyone with either an existing or potential hotel they have for sale, in a decent location, please let me know!

PS. Looking for stars Another interesting project of ours is trying to find a buyer for the Mallorca Observatory (see page 3) which has recently gone into liquidation.

We understand it would be possible to upgrade or convert it to add accommodation in order to attract international buyers. But it would be a terrible tragedy though for the island to lose such an important facility - so if you know anyone with an interest in the stars please do get in touch.

It is offered at a bargain price in the interest of maintaining it for our future use - offers in the region of €1.8m would be considered, covering only the debt.

Contact Amanda Butler at +34 690075169 or by email: ajb@mjcassociates.net

Holiday Let - 40% Discount for May and June

SANTA PONSA FAMILY VILLA – Holiday Rental

Superb 5 bedroom, 4 bathroom family home with private pool and beau8ful secluded landscaped gardens. Close to golf courses and fashionable Port Adriano.

Holiday Let – New special price for May and June If you own one or more properties, perhaps ‘for sale’, fully furnished and well maintained with a pool, and currently unoccupied, whilst still costing you money? Why not turn the situation around and start making money between visits or until sold?

You can earn in 3 or 4 months by weekly rentals what you would earn in a year by a long-term rental, without impeding a possible sale.

We are a professional team and will take care of your home whilst meeting all the cost of promoting and marketing your property.

We find you the guests, make the reservations, prepare the contracts and all legal paperwork necessary but the best of all is,

IT WON’T COST YOU A PENNY!

Our comprehensive service includes ‘in house’ cleaners, electricians, plumbers, etc.

‘Meet and Greet’ service, key handover and collection, cleaning, laundry and garden and pool maintenance.

PUERTO ANDRATX – Fabulous Loca8on 6 Bed Villa

Just a short stroll to shops, restaurants and cafes is this immaculate and sophis8cated home. Beau8fully presented throughout with sea and mountain views.

We speak Spanish, English, German and Dutch

We speak Spanish, English, German and Dutch +34-871 551 307 +34-693 516 446 homeandlifestyle@realtyagent.com tel: +34 871 551 307 tel: +34 693 516 446 Gremi Sabaters 21, 2nd Floor 24, Pol. Son Castelló, 07009 Palma de Mallorca

homeandlifestyle@realtyagent.com

Gremi Sabaters 21, 2nd Floor 24, Pol. Son Castelló, 07009 Palma de Mallorca

www.theolivepress.es Property

May 25th June- June 8th 8th 20172017 May-25th

Showboating!

HIS team has just come second in the English Premiership for the first time since 1963.

So Tottenham Hotspur owner Joe Lewis (inset) has every right to be showboating around the Med in his 68-metre superyacht, Aviva.

The €126 million stunner has been seen in Gibraltar and Malaga this month and is believed to be en route to the Balearic Islands.

From €50m...

... to €36.5m

Leopard print walls, mirrored ceilings and all!

NIGHTCLUB impresario Peter Stringfellow has admitted leaving Mallorca ‘would be a life changer’ as he puts his villa on the market for €3.5million.

The self-made millionaire, famous for his London nightclub Stringfellows, is swapping island life for a

Falling Down

Basic Instinct star slashes price of his Mallorca mansion to €36.5 million EXCLUSIVE

By Joe Duggan

EXTINCT: Village makes a comeback

I

T could probably best be termed a slasher!

Michael Douglas’s palatial Mallorca mansion has come back on the market with a third snipped from the price.

Originally on the market for €50 million, the mid-19th century villa - where the likes of Tom Cruise, Jack Nicholson and Michelle Pfeiffer have stayed - has now come down to €36.5 million.

“The property was originally €50 million, so it’s now a very good price for the uniqueness of the property and position,” said MJC Associates director Amanda Butler, who is marketing the property.

She added: “It is an amazing property in one of the most beautiful parts of the island.

I am sure there will be no problem in selling it now.”

Rising from the ashes

HIDDEN: Unique estate of Michael Douglas (pictured with Catherine Zeta Jones) in Mallorca Basic Instinct star Douglas has been a long-term homeowner on the island, snapping up the 247-acre estate for an undisclosed sum in 1989 with ex-wife Diandra Luker.

As well as stunning gardens, the stylish pad holds a gym-

IF Michael Douglas’s pad (above) doesn’t float your boat then how about this jawdropping Camp de Mar mansion, on the market for a cool €48.5 million. With stunning sea views, 10 ensuite bedrooms and a huge outdoor swimming pool, it ticks plenty of boxes.

Surrounded by fruit trees and nestling beneath mountains, the 400,000 m2 estate is a 20-minute drive to Palma.

The property is divided into three houses. It´s for sale through Mallorca Sothebys.

nasium, games room, jacuzzi, library and wine cellar and cinema.

Nestled in the Unesco World Heritage-protected Tramuntana mountains, it boasts seven separate buildings, including five individual apartments with 10 bed-

Camp de Mar-vellous

POLYWOOD OUTDOOR FURNITURE

rooms and two cottages.

Its stunning setting, in 247 acres of rolling Valldemossa countryside, offers glorious vistas of the sea and surrounding countryside.

Douglas, who scooped an Oscar for 1987 film Wall Street, used to tend to the vineyards on the property, which offers crystal-clear sea views of the Mediterranean.

Douglas, who is married to British actress Catherine Zeta Jones, originally put it up for sale in 2015 but took it off the market last year.

The property was built in 1867 by the Austrian Archduke Ludwig Salvator after he fell in love with Mallorca.

Douglas’ films include Basic Instinct, Falling Down, Disclosure and Wall Street.

Email Amanda at amanda. btlr@gmail.com for more information.

13 III

A RADICAL mayor is celebrating success in his campaign to save a village from extinction.

Pedro de Verona has more than doubled the population of Chumillas in Cuenca from 21 to 44 in less than 10 years, while reducing the population’s average age from 75 to 40. It is hoped his initiative, which focuses around re-opening a school and encouraging small businesses to base themselves there, could be used to help turn around the fortunes of villages also at threat from extinction across Spain.

“It had been closed for 28 years but now there are 15 pupils at the school,” said Verona.

Verona said that the encouragement of small businesses to the village was revitalising its economy without having to rely on the presence of big businesses.

taste of Italy, eyeing up a pad in the glitzy Italian region Puglia.

But the legendary lothario admits it will be a wrench to leave his pad overlooking Puerto Portals.

“If somebody comes along that makes it easy and meets my price then I will possibly sell it, but to let Mallorca go would be a major life-changer,” he said.

“We still love Mallorca we just don’t have the time to go. I used to be on a plane every couple of weeks, but when you’ve got babies you can’t do that,” added Stringfellow, who is a dad of two.

MOVING Stringfellow’s OUT: Stringfour-bedroom villa boasts fellow four ensuites, a fabulous pool with some rooms kitted out in his trademark leopard print.

The home, for sale through Balearic Properties, also has mirrored ceilings in the main bedroom, as revealed by the Olive Press last issue.

DREAM´S OVER: Banderas

Zorro Sorrow

ANTONIO Banderas has pulled out of a cultural project he hoped would revolutionise the city centre of Malaga.

The 56-year-old Hollywood star, from Malaga, has withdrawn from the scheme at the site of the old Astoria and Victoria cinemas.

It came after opposition councillors criticised the bidding process, which his team won, leading to allegations of irregularities and fraud on social media.

“The chorus of voices against our project, inside and outside local politics, which didn’t just criticise it, but entered into sarcasm and nastiness, made me wonder if it was really worth risking so much,” said Banderas.

CEILING FANS FOR OUTDOOR AND INDOOR

70 models on display more than 120 models in many variations available from stock

IV 14

Property www.theolivepress.es

May 25th - June 8th 8th 2017 May 25th - June 2017

The Alfonso XIII, Sevilla This Andalusian institution was opened for the Sevilla Expo of 1929 and nothing much has changed. The noble arches and columns are still here, and the corridors gleaming with iridescent tiles in Moorish tones, the fluted ceiling mouldings and gold-trimmed lifts. And guests still sip fino in the patio, as they always did.

The hotel was a favourite with the current king’s mother, Doña Maria de las Mercedes de Borbón y Orleáns, as well as Sevilla’s most glamorous and celebrated visitors including Princess Grace of Monaco, Rita Hayworth (whose father was Sevillano), Orson Welles, Audrey Hepburn (above), Sofia Loren, Jackie Kennedy and Princess Diana, right. Some scenes from the 1962 epic Lawrence of Arabia were also filmed here.

Abadia Retuerta LeDomaine, Valladolid This stunning spa hotel is 900 years old.

The former abbey in the wine-producing area of Ribera del Duero in Valladolid is one of the most luxurious hotels in the country.

One of the former stables is now the Santuario Wellness & Spa, where a dedicated spa sommelier offers guests a glass of wine before advising on suitable vinotherapy treatments, then running a wine bath in your room, so you can gaze across vineyards to the mountains beyond. The abbey is a celebrated Romanesque building founded in 1146 by the Premonstratensian Order - a Roman Catholic monastic sect founded in 1120 by St Norbert (1080-1134), a German bishop. Much of the original structure has been respected - the monks’ former cells are now smart rooms and the abbey’s grand refectory is now an acclaimed restaurant where chef Marc Segarra Saune uses the estate’s produce to inspire his menus.

Castillo hotel, Mallorca A LUXURY 13th century hotel offers some of Mallorca’s best views of Palma.

The five-star Castillo Hotel is a ten-minute drive from the capital and close to two three golf courses, including Arabella Golf Son Vida.

Its impressive glass dome was designed by German artist Nils Burwitz with art by local Mallorcan artist Richard Anckermann adorning its walls.

The 164-room hotel boasts two restaurants, two outdoor pools, four tennis courts, a whirlpool tub and a spa.

Hotels with history Spain has some of the oldest lodgings in the world

S

PAIN is littered with postcards from the past.

From the Romans to the Vandals, almost every civilisation has set up shop on its shores.

And to this day, some of their palaces, castles and magnificent villas remain intact and are available to stay in.

For a romantic weekend away or a time travel trip through history, these heavenly hostelries have the coolest of back stories.

La Torre del Visco, Aragon This 15th century former farmhouse is set in 100 hectares of olive and almond trees.

It was bought by a British couple - Jemma Markham and Piers Dutton - in 1995 and turned into a stunning luxury retreat. Fashion icon Karl Lagerfeld, right, once nominated it as one of the three most romantic hotels in Spain, and fell under the spell of its wonderful breakfasts of breads, hams, cheeses and homemade quince jam.

The 17-room dwelling has a big library stocked with 3,000 books and a gleaming Bechstein piano.

Guests, who include the former king and queen, above, of Spain, also have the option of arriving by helicopter.

Gran Hotel Montesol, Ibiza THE oldest hotel founded in Ibiza reopened last year after extensive refurbishments.

The five-star Gran Hotel Montesol Ibiza, which first opened its doors in 1933, is listed as a Place of Historic Interest by Spain’s Ministry of Culture.

Housing 33 rooms in the heart of Ibiza Town, it is Spain’s only Hilton-owned hotel, with celebrities like Orson Welles and Pink Floyd enjoying stays in its Colonial splendour.

The iconic establishment is a short walk from the area’s beaches and elegant cobbled streets.

Parador de Jaen, Jaen Parador de Santiago de Compostela, Galicia This Galician luxury hotel is one of the oldest continually running lodgings in the world. The parador was founded

by King Ferdinand and Queen Isabella at the end of the 15th century as a refuge for pilgrims. It was designed to allow them to rest their feet after walking across Spain to pay homage to St James, who is buried in the cathedral on Obradoiro square. The most impressive guestrooms overlook the square and feature four-poster beds and antique Castilian furniture.

The massive granite building in gothic, Renaissance and baroque styles is set around four cloisters.

This spectacular restored castle hotel was built as a 12th-century Moorish fortress, connected to the city by hidden tunnels. During Arab rule the castle kept the city at peace, until it was captured by Ferdinand III in 1246. He extended the castle, which held out against the repeated attacks by the Moors over the next two hundred years, until all the Moors were expelled from Spain. Soaring vaulted ceilings, wooden beams and tiled floors add to the majestic splendour but the decadent comforts of its 45 bedrooms are far from medieval.

www.theolivepress.es

May 25th - June 8th 2017

15

Finest Real Estate Mallorca

Son Vida: Elegant villa in delightful setting in the most exclusive area of Palma. The sunny south facing villa features 6 bedrooms and 7 bathrooms, a separate guest apartment, a swimming pool, air conditioning h/c, fireplace, garage and alarm system. E&V ID: W-00CH8N · Price € 2,850,000

Sóller: Spacious house with stunning views surrounded by gardens.

It has a large entrance, living room, dining room, study, open-plan kitchen with pantry, 6 bed. and 3 bath. Furthermore an outdoor kitchen, large fish pond and parking space. E&V ID: W-023L93 · €1,750,000

Palma: Luxurious 171 sqm apartment in the centre of Palma’s Old Town.

Bright living room with fireplace, 17 sqm terrace. Fully equipped american kitchen. 3 Bedrooms and 2 bathooms Underfloor heating, gas fireplace, airconditioning and parking. E&V ID: W-028VPG · € 1,590,000

E X W CL IT U H SI E VE & V

Illetas: Unique penthouse with spectacular panoramic sea views. Incredibly spacious terrace, summer BBQ kitchen with bar, relaxing lounge area, infinity plunge pool. 3 bedrooms, 4 en-suite bathrooms, bright living/dining room, 2 garage parkings. E&V ID: W-00AE1A · € 2,250,000

Santa María: Stunning and private country residence. The house has U-shape with a patio in the middle with olive trees. Mediterranean garden.

Four bedrooms with bathrooms en suite, open plan kitchen and wine cellar.

Large pool, own well, terraces. E&V ID: W-028Q71 · €2.950.000

Puerto de Pollensa: Big and beautiful! Just 300 meters from the seafront, a fabulous seven bedroom, high tech villa with large pool, loads of room to chill and a fantastic, full size roof terrace with Jacuzzi, summer kitchen and a whole lot more. E&V ID: W-022G85 · € 2,650,000

Engel & Völkers Mallorca · Tel.: +34 971 23 85 84 Mallorca@engelvoelkers.com · www.engelvoelkers.com/mallorca

VI 16

Property www.theolivepress.es

May 25th - June 8th 8th 2017 May 25th - June 2017

World class A Spanish architecture firm has won the coveted Pritzker prize for only the second time in history

T SLICK: Vilartagues school, Girona, and (above) other designs

he Pritzker - It’s an accolade desired by many but won by a select few, and up until this year, the recipients of the acclaimed award tended to be solo architects. The rewards of such a prize have been modelled on those granted to Nobel Prize winners – a $100,000 grant, formal citation certificate and a bronze medallion.

In 2017, this prize will be shared by a trio of architects hailing from Girona. Their firm, RCR Architectes, the second in Spain to win it in its 39-year history.

Founded by Jay A. Pritzker and his wife, Cindy who were based in the birthplace of the skyscraper, Chicago, the aim of the award is to encourage more creativity within the architectural field. It makes sense, then, when you see the vast eclecticism of the work of Rafael Aranda, Carme Pigem and Ramon Vilalta, that it would go to the Olot-based trio.

Born in 1987, their firm, RCR Architectes’ first major recognition came in 1988 in a competition sponsored by the Spanish Ministry of Public Work and Urbanism. They won first prize for a lighthouse in Punta Aldea, after which they secured a number of commissions in Catalunya. Since then they have since spread their portfolio to neighbouring European countries.

Having given countless lectures in Spain and abroad, they set up an international summer workshop in 2011 at their Barberi Laboratory studio, a converted early 20th century foundry. Their works range from public and private spaces to cultural and educational venues and include a winery, and swimming pool. Of their win Pigem said "It is a great joy and a great responsibility. We are thrilled that this year three professionals, who work closely together in everything we do, are recognised.”

South Beach baby Engel & Volkers open a new office in the rapidly rising Platja de Palma area

THEY have now got the whole island covered.

Mallorca property experts Engel & Volkers have opened the doors on a brand new agency.

The German real estate giant has opened its first Playa de Palma venture between Can Pastilla and El Arenal.

And with Palma booming, director Terence Panton believes the area has ‘po-

tential’ to become ‘a quality city beach area’.

Can Pastilla has already started to come up a lot over the last two years, while Arenal is starting to see similar signs.

The 5km coastline of Playa de Palma is currently being renovated with millions of euros of upgrading from the Palma Beach Consortium.

Boom

NEW BRANCH: Engel & Volkers staff

bank battle continues

The battle for the consumers’ rights against banks’ abuses in Spain continues.

The government has recently passed a decree which tries to force the negotiation of the complaints about the so-called ‘floor clauses’ (technically ‘minimum rate clauses’) which the banks had been forcing on the mortgage deeds over the last 15 years, so that any consumer has to follow a preliminary complaint process at the bank.

Failure to do this implies at the very least losing the award of costs and, in some cases, it may result in the clients losing the case at court, therefore it is

highly advisable to follow the steps. As to how this process works, it is still too soon but the experience shows that for many people this is just a waste of time since the banks usually try to make alternative offers of rate reduction instead of refunding the moneys.

However there is a new battlefield on mortgage costs, since the Spanish Supreme court has recently maintained that most mortgage expenses – Notary, Stamp duty, land registry - are to be paid by the bank and not by the consumer.

At the end of the day, most clients are filing requests for refund of the extra moneys paid on mortgage costs along with minimum rate clauses.

“This project could turn Playa de Palma into an urban beach like Miami South Beach,” said Panton.

“It will trigger a real boom here and we forecast prices will rise significantly over the next three years. It is a good time to invest.”

Property prices in the area go from €1,500 euros per square metre for renovated apartments in need of renovation.

Apartments with sea views fetch €5,000 per square metre and villas upwards of €500,000.

“Playa de Palma is one of the few areas of coastline on Mallorca where property prices remain moderate, in spite of the close proximity to the sea, the international airport and the capital,” Panton added.

Visit www.engelvoelkers. com/palma for more information

Swede sensation

SALES of Mallorca property to Scandinavians have risen 13% in three years.

The majority of Swedes snapping up homes on the island are aged 50 or over and looking to escape the cold north European winters, according to a local property expert.

Vivian Grunblatt said that Mallorca and, in particular, Palma are now seen as ‘the place to be’.

“When we started 12 years ago there were three estate agents dedicated to Swedish clients and now there are 30,” said Grunblatt from Mallorca Fastigheter.

“They aren’t just looking for good weather, because they can find that at a cheaper price on mainland Spain.

“They are looking for a lifestyle, the cafes, terraces and shops of Palma, it’s culture.”

Fair deal MORE than 6,000 homes were on show at this month’s Mallorca Property Fair.

The Palma Arena expo drew together leading property companies offering apartments and houses to rent or buy.

Solar-powered homes and fincas were also on display at the weekend-long event.

Companies that had stalls on display included Palmer Inmobiliaria, Grupo Carreras, IPS Imo, Gregal Property Group and Fincas Fiol.

HOMESELLERS REPORT

Imperial's mint condition

I

T has been an exciting 30-year journey.

Now Imperial Properties, founded in 1985, counts on a 12-strong team operating out of Santa Ponsa and Palmanova, with a strong focus also around Palma, Portals and Puerto Andratx.

And with some 780 properties, ranging in price from €80,000 to €48.5 million there is something for every budget.

“We know the market very well,” explains boss Paul Edwards, originally from Cardiff. “Although we have nearly 800 properties for sale, normally we can say to someone, 'You want to see that one and that one'. We can pinpoint very quickly what will fit.”

“People can get tired, bored and overawed by being dragged from property to property.” he continues.

With four of the team coming from the same family, Imperial prides itself on its friendly, down-to-earth approach.

“We get to know our clients very well,” adds Paul. “Our clients tend to become long-term friends and are in and out of the office more than our own friends and family.

“We also don't employ showy sales people, we employ genuine, honest people who can help clients people find what they are looking for.”

Over the past two years, Paul explains, the most fast moving sector on the island has been in the €650,000 to €1.2 million-priced villa bought for redevelopment.

"Due to the significant price rises we have seen in the last two years, we have carved a niche in terms of finding unreformed gems," said Paul.

Our core market remains British buyers, but with a vastly experienced team able to speak Swedish, German, Russian, Catalan, Spanish, Welsh and some Italian and French, Imperial Properties is well positioned for buyers and sellers of most nationalities.

“I am a family guy, and we are not here to dominate the world," says Paul. “We keep our feet on the ground.”

Email info@imperial-properties.com or 971 692 434

HELPING CLIENTS: Imperial boss Paul Edwards

www.theolivepress.es Property

May 25th June- June 8th 8th 20172017 May-25th

Silverpoint Puerto Portals Frontline Apartment—Direct Port Access 3 Bedrooms—Large Terrace—Parking—945.000€ - IP2-9140

Palma bright apartment in La Llonja very close to Borne and Port 2 bed, 2 bath, 70 sqm—495.000€ -reference IP2-9074

Santa Ponsa chalet with incredible sea views—3 bed, 3 bath, 155sqm—1.050.000€ -reference IP2-9125

Imperial Properties +34 971 692 434 - Email: info@imperial-properties.com - www.imperial-properties.com

17 VII

VIII 18

Property www.theolivepress.es

Hotel heaven

A STUNNING five-star boutique hotel is set to open its doors in Mallorca in June.

The Jaime III in the heart of elegant Palma offers access to the city’s stylish shops and trendy bars.

Its lavish interior boasts art installations, while rooms will have views over the city.

Meanwhile the new H10 hotel has opened its doors in Mallorca.

The completely refurbished, four-star H10 Playas de Mallorca was bought by the luxury hotel chain in 2015.

Its seafront location on Santa Ponsa beach gives idyllic views.

H

OMEOWNERS must prove they are renting their properties legally in a government crackdown on tourist rental accommodation.

Until now, it was up to the authorities to prove a flat was being rented illegally, but now the burden of proof will fall on owners who could be slapped with fines of up to €40,000.

The authorities are currently examining 313 cases of suspected illegal tourist rental from 2012 to 2016 in Mal-

May 25th - June 2017 May 25th - June 8th 8th 2017

Rent row

Landlords must prove they are legally renting in new crackdown lorca.

The numbers have risen steeply year on year, with 42

in 2013, 50 in 2014, 52 in 2015 and 121 in 2016.

During the same period, 1,124

We’re setting the limits

LANDLORDS in Palma are set to be limited to renting four holiday homes each.

The legislation put forward by the PSOE and Mes government would also restrict the number of days homes can be rented from 60 or 75.

Podemos have also asked the government to define what an ‘emergency’ rental ban in areas with high tourist rental, like central Palma, would mean.

The holiday rental legislation is due to go before parliament by the end of June or July.

denuncias were reported to Mallorcan authorities over suspected illegal tourist rentals.

Director of Tourism Pilar Carbonell said part of the reason for the change was it was ‘illegal’ for the authorities to make fake online bookings in an attempt to catch offenders. But MP Josep Melia slammed the change in the law as ‘unconstitutional’.

“It’s as if I had to prove that this morning I hadn’t driven on the Inca highway at 140km/h without feet or my head,” he raged.

Loan rangers MORTGAGE volumes have increased by €10 billion in Spain since 2013.

It comes as a result of increased property transactions, which have risen from 300,000 in 2013 to just under 460,000 in 2016, according to bank BNP Paribas and UCI. The uplift in activity has led to renewed interest in Spain from abroad, with foreign buyers returning to the market in high numbers.

The numbers of overseas buyers has soared from just 6% in 2006 to 17% in 2016, with British buyers the largest group (19% of all foreign buyers).

New rules are now in place to help limit lending and make house buying a ‘safer process’ for lenders and buyers.

be CAREFUL OF THE CLOWNS Beware of property conman operating in Spain, warns leading analyst Mark Stucklin

R

EPUTABLE local agents warn that a fraudster is offering bargain properties in Spain to trick the unsuspecting out of their deposits.

The fraudster is offering ridiculously cheap property to trick victims into handing over deposits that will never be seen again.

The fraudster is someone who used to work for a local real estate agent, then legged it to Thailand with the client database, and is now hammering the

mailing list with astounding bargains that don’t exist.

“So far we have found three clients who have paid him approximately €22,000 in deposits,” I am told. Once he has got his hands on the money, the fraudster no longer responds.

An example of how he operates: He is hawking a villa for sale in Las Ramblas on the Costa Blanca – actual price €400,000 – as a bank repo with pool for just €99,995, which can be secured with a €10,000 deposit if you move fast and transfer him the money. Apparently the Police have been informed, and legal action is underway.

As reputable local agents point out: ” If something

looks too good to be true, it probably is”.

They also offer the following advice: 1. Ensure the agent has an established office 2. Check for AIPP membership 3. Do your research, if a property is at an unbelievable price, why is it still for sale?

4. Do your research on the agent The Spanish property market is plagued with incompetent clowns, cowboys, and crooks. Be careful who you deal with. www.spanishpropertyinsight.com

Love it!

THIS is the home set to become a hotbed of passion for this year’s series of Love Island.

The stunning villa, in Sant Llorenç des Cardassar, Mallorca, with sprawling terrace, outdoor pool and a barbecue area normally rents for €3,500 per month in summer.

The reality TV series, presented

by Caroline Flack, sees a group of single people installed in a luxury villa in the hope of finding love.

New development with sea views in Palma Casa Ferrari is located in the outskirts of Mallorca’s vibrant capital Palma, in the sought-after area of Cala Major. The brand-new luxury project consists of 2 buildings, „Sky“ and „Oasis“, both south-west facing towards the glistening sea and blending Mediterranean living with Scandinavian design.

Walking distance to sandy beach and only five minutes to Palma City.

Most of the apartments enjoy superb views over the sea, whilst the ground floor apartments have private gardens with pool. The apartments vary in sizes between 42 sqm and 145 sqm. The penthouses have generous private roof terraces and private pools with superb views across the sea and nearby capital. An iconic community pool on the roof of the Oasis building invites residents to chill and relax in a redefined urban landscape with a fresh and contemporary design.

E&V ID: W-0288PM · Prices from € 245,000 Engel & Völkers · Palma Southwest T. +34-971-22 23 23 · palmasouthwest@engelvoelkers.com engelvoelkers.com/casaferrari

www.theolivepress.es

May 25th - June 8th 2017

19

Currency savings are best enjoyed poolside.

Sit back and beat the banks from the comfort of your sun lounger.

Paul

• Fee-free transfers

Currencies Direct customer since 2013, Calpe, Spain

• No hidden charges

Watch his story at currenciesdirect.com/Paul

• Bank-beating exchange rates*

Contact us today, mentioning Olive Press, to obtain our most competitive exchange rates.

Get in touch - Mallorca Avenida Rey Jaime I no.104 07180 Santa Ponsa Calvia, Mallorca, 07180 +34 871 510 277 mallorca@currenciesdirect.com

currenciesdirect.com/mallorca

Transfer 24/7 on the move.

Download our app today.

© Currencies Direct Ltd, One Canada Square, Canary Wharf, London E14 5AA, United Kingdom. Registered in England & Wales, No.: 03041197. Currencies Direct Ltd is authorised by the Financial Conduct Authority as an Electronic Money Institution under the Electronic Money Regulations 2011. Our FCA Firm Reference number is 900669.

SP17400EN - OLIVE PRESS MALLORCA - AD MAY 17.indd 1

SP17400EN

*Fees and exchange rate data for banks taken from the International Money Transfer Index™ (IMTI™).

16/5/17 16:04

X 20

Property www.theolivepress.es

A

t Mallorca Best Homes, quality not quantity - is the name of the game.

The three-strong team of Martina Becker-Zahn, husband Stephan Zahn and Susanne Dietze offer expert real estate knowledge of Mallorca's stunning south-west coastline.

Both Martina and Susanne have been living in Santa Ponsa for more than 13 years and know the location very well.

Rather than offering properties all over Mallorca, they concentrate on the area they are at home with as their aim is to give thorough expert advice to their clients about the location of their future home.

Unlike some of the larger players in the market, the size of Mallorca Best Homes' team allows them to offer a more personal service to their clients.

May 25th - June 2017 May 25th - June 8th 8th 2017

South West is best

Mallorca Best Homes offers quality not quantity for the popular region, writes Joe Duggan

Trust

It's a successful business model. Since opening three years ago, the SantaPonsa-based company has gone from strength to strength, with the first five months of 2017 already surpassing previous year's sales.

‘Trust is the bedrock of this success’, and Mallorca Best Homes relationship with their clients doesn't end once you are handed your keys, as Martina explains.

"The first apartment I sold was to an 83-year-old lady," she says. "She wanted a place with somebody who could take care of her.

"She is still a good friend and regularly comes into the office. She recently needed help with her phone line because there was no proper signal. She also asked us to help sort out her will, which proves a trustworthiness that we are not just agents, but really help our clients.

"We had a British couple this morning whom we helped to open a bank account and advised how to get the best exchange rates when transferring money," she says.

"In fact, we help many of our old clients.

AP 149 | Nova Santa Ponsa | 499.000 €

H 200 | Nova Santa Ponsa | 1.950.000 €

AP 192 | Costa de la Calma | 745.000 €

Sea view apartment in sought-after complex in 1st sea line, 3 bedrooms, 3 bathrooms, fantastic sea view terrace. Residence with 2 pools, direct sea access, parking.

Renovated house with great garden in best villa location, 1.100 qm plot, 150 sqm, 3 bedrooms, 2 bathrooms, covered and uncovered terraces, pool, garage.

Penthouse with fantastic sea views, 150 sqm, 2 bedrooms, 1 office, 2 bathrooms, 280 sqm terrace space, community pool.

· Your estate agent for all budgets in the Southwest of the island ·

TEAMWORK: Martina and Susanne look after their clients

If they get a letter from the Town Hall we can show them where to go. Informing them so that they know about their obligations as property owners and can avoid problems.. . Our door is open for them."

She adds: "We can't compete with the big names so we need to offer something else. To make people more comfortable with us, offering a better, more comprehensive service far beyond what is considered to be an agent’s work."

Offering everything from studio flats costing €99,000 to luxury Andratx villas costing €9 million, there is something for every budget.

A regular visitor to Mallorca since the age of ten, Martina, who speaks perfect English, ensures that her clients have a full command of what is required when buying.

As Mallorca's popularity continues to soar - it was recently voted number six island in the world on Tripadvisor - the area around Santa Ponsa has become highly sought after by an ever-growing international clientele.

"You have an infrastructure in the south west which is designed for the main European languages," says Martina.

"You can get British or German dentists and there is an international medical centre. So there's no need to drive to Palma." Of course, investing in a Mallorca property, with prices continuing to rise, is not just the ideal way to ensure you have a dream holiday home in a beautiful location.

"In former times people bought property to use as a holiday home, but now people want to make a safe investment as they know the price will not decrease," says Martina. And of course, property owners who consider selling are welcomed to their office on Avenida Jaime I, to talk about possible sales prices and details of the sale process, including tax issues .

Email info@mallorca-best-homes. com or call 0034-971694055 or 0034 640 285997

AP 149 | Nova Santa Ponsa | 499.000 €

H 200 | Nova Santa Ponsa | 1.950.000 €

AP 192 | Costa de la Calma | 745.000 €

Sea view apartment in sought-after complex in 1st sea line, 3 bedrooms, 3 bathrooms, fantastic sea view terrace. Residence with 2 pools, direct sea access, parking.

Renovated house with great garden in best villa location, 1.100 qm plot, 150 sqm, 3 bedrooms, 2 bathrooms, covered and uncovered terraces, pool, garage.

Penthouse with fantastic sea views, 150 sqm, 2 bedrooms, 1 office, 2 bathrooms, 280 sqm terrace space, community pool.

· Your estate agent for all budgets in the Southwest of the island ·

www.theolivepress.es

May 25th - June 8th 2017

OVER 30 YEARS IN MALLORCA PROVIDING QUALITY SERVICE Quality Awnings, Sun Blinds, Windows, Doors and more…

OFFICIAL DISTRIBUTOR

Tel: (+34) 971 69 30 04 Fax: (+34) 971 69 15 05 info@tiptoptoldos.com Pasaje 19 de Marzo, 10 y 11, Poligono Son Bugadellas, Calvia, Mallorca

www.tiptopmallorca.com

21

22

www.theolivepress.es

May 25th - June 8th 2017