The beautiful Balearic island of Mallorca is also one of the favorite travel destinations of Europeans this year. But why is it so attractive? The many beaches make it attractive for nature lovers and the mild Mediterranean climate ensures a pleasant stay in every season. The varied range of leisure activities is another important prerequisite for the growing interest. So it’s no wonder that more and more Germans, English and Scandinavians are going one step further and investing in real estate on Mallorca. For many, a lifelong dream comes true with a luxury villa or apartment.
Real estate in Mallorca – the market is experiencing an upswing
After the US real estate crisis, investors have become cautious – and even if the prices of single-family homes in Spain have fluctuated sharply as a result, the luxury segment hardly seems to have been affected. According to the, holiday properties in Mallorca have Real estate magazine Bellevue Not lost its charm and Mallorca remains one of the top vacation rental locations in Europe. The trend can be explained quickly – the plots on the island are limited / approx. 35-40% of the area is under nature protection /, at the same time very popular. The main reasons for this are:
– Good infrastructure: excellent transport links and flight connections
– Architectural sights and a rich cultural program
– Exciting night life
– Numerous leisure activities – water sports, golf courses, hiking and cycling trails for the active, wellness and spa salons for those seeking relaxation.
– International schools and hospitals
According to firstclass-estate.com, they are in demand mainly holiday homes and luxury apartments in Port d ‘Andratx, Santa Ponça, Pollença or Son Vida in the capital Palma de Mallorca. Plots with favorable locations can hardly be found any more, around 400 new construction projects / mostly terraced houses and single-family houses / are planned for this year.
Real estate in Mallorca – what needs to be considered when buying?
Anyone interested in real estate in Mallorca must plan the investment in detail and seek detailed advice from experts. The property value is determined by several criteria:
– Easily accessible real estate – they can basically be rented out or sold more quickly and are therefore expensive.
– Magnificent sea views – luxury villas with a convenient location cost up to 40 percent more on average.
– The number of bedrooms and bathrooms.
– The garden size and the pool area can also increase the overall value.
– Zoning policy and legal changes – these concern, for example, the controversial legalization of illegally built / extended country houses / on this the government still does not agree and the situation changes from day to day /, legal changes regarding transfer, inheritance and gift tax law of real estate of non-residents, important Rental regulations and many others.
– The size of the annual tax
Properties in Mallorca in the luxury segment offer additional extras such as pool facilities
Real estate in Mallorca – the better the view, the higher the price
The size of the garden can increase the value of the property