Overview
As we head into the end of 2011 what sort of year has it been for property for sale in Mallorca and what is the future in 2012 for Mallorca property?
The truth is it has been a fantastic year for luxury property sales in Mallorca but a really bad year for those property buyers looking for a deal. In 2010 our company had our best ever year for our Property Finder service as we were able to bring buyers and sellers together. However those who didn’t buy in 2010 were left cursing themselves as 2011 turned back into a proper real estate market where the vendors were back in control. This has meant the property sales in Mallorca in 2011 have been based on the luxury end of the market with price being less of an issue. As we all know when it comes to luxury property in Spain Mallorca takes a lot of beating.
So the reality is in 2012 if you want to buy a Mallorca property don’t expect to find a bargain property or distressed sale. All you have to do is go onto Banco Santander bank repossessions website and you will see for yourself that there are no bank repossessions in Mallorca with the possible exception of flats in Palma de Mallorca which are really for the local Spanish market. The reason for this is Mallorca is the London of the Spanish Real Estate market with one of the highest percentages of international property owners in Western Europe with a lot of these owners being high net worth individuals.
However the fact you won’t get the same discount in Mallorca than in the rest of Spain shouldn’t worry you. It’s actually a good thing and the same principals apply about buying prime location real estate anywhere in the world. If it’s a good investment then you should be comparing your purchase to the market you’re buying in. If someone is buying in London do they compare prices in Birmingham, of course they don’t and the same principal could be applied in Germany when buying in Berlin and comparing prices in Dortmund. So 2011 we really did hit the bottom of the market in Mallorca and some might say we hit it at the end of 2010. What this means for 2012 is this is without doubt we are at the bottom of the market and now is the right time to invest in Mallorca Property
Port Adriano Mallorca
Is Mallorca property a good investment?
Well without doubt it’s the best place to invest in Spain for three very strong reasons. The first being the fact that you just do not have the oversupply of property you have in Spain due to the strict planning laws on the island with strong enforcement. The second being the huge demand from the international community to buy property here as well as strong demand from the wealthy Spanish from Madrid and Barcelona. Lastly it’s prime location and diserable property that most people want to own.
2012 Mallorca property choices
So if you want to invest in Mallorca property in 2012 where is the best place to invest and what type of property can you buy? Below I have picked what I consider to be the best locations with a brief overview.
Sol de Mallorca
Situated just above Magaluf Sol de Mallorca property for sale falls into two major types as does most property in the coastal locations of Mallorca. The first are luxury apartments with stunning views across the south west bay of Mallorca. Apartments will range from 500,000 to 1 Million Euros. Secondly are all levels of luxury Vilas from 1 Million to well over 10 million Euros.
Santa Ponsa
One of the most desirable areas for property buyers in Mallorca with property for sale in Santa Ponsa falling into two major types as does most property in the coastal locations of Mallorca. The first are luxury apartments with stunning views across the south west bay of Mallorca. Apartments will range from 400,000 to 1 Million Euros. Secondly there are all levels of luxury Vilas from 800,000 to well over 10 million Euros.
Santa Ponsa in Mallorca
Puerto Portals
One of the most desirable areas in Mallorca with the port itself being a major attraction for property buyers alike. Property for sale in Puerto Portals falls into two major types as does most property in the coastal locations of Mallorca. The first are luxury apartments with stunning views across the port. Apartments will range from 400,000 to well over1 Million Euros. Secondly there are all levels of luxury Vilas from 1.5 Million to well over 10 million Euros.
ion
Llucmajor
One of the most desirable inland areas of Mallorca with lovely coun try house Fincas and amazingly beautiful Villas. Property for sale in Llucmajor can start from as little as 600,000 to fantastic 6 Million Euros kick off villas. Llucmajor the area aslo covers the south Mallorca coastline from Arenal and Colonia San Jordi and here again property is similar to the other places mentioned in this blog
Calvia
Calvia has something for everyone as Calvia is not only a town but an area as well, so in Calvia you will find both country style fincas and the areas where Calvia area forms part of the coast you will find luxury apartments and prices start from 400,000 to over 10 Million Euros depending on what you’re looking for. Property for sale in Calvia is probably another blog all on its own.
Bendinat
One of the most desirable areas of Mallorca and really the start of Mallorca west. Bendinat property for sale falls into two major types as does most property in the coastal locations of Mallorca. The first are luxury apartments with stunning views across the south west bay of Mallorca. Apartments will range from 500,000 to 1 Million Euros. Secondly are all levels of luxury Vilas from 1 Million to well over 10 million Euros.
Puerto Andratx in Mallorca
Puerto Andratx
Probably the number one destination for all Mallorca property buyers in the far west of the Island with the most expensive and best property on the island. Property for sale in Port Andratx falls into two major types as does most property in the coastal locations of Mallorca. The first are luxury apartments with stunning views across the port. Apartments will range from 600,000 to well over1 Million Euros. Secondly there are all levels of luxury Vilas from 2 Million to well over 20 million Euros.
I hope this has given you some help and indication of what to expect if you come to look at villas for sale in Mallorca in 2012. If you have any further specific questions about the Mallorca property market please feel free to contact me directly.
