Increase in Property Investment in Mallorca

Sept 27, 2018

Spain is a country with so much to offer whether it is from their sunny beaches, scrumptious Spanish cuisine and not to mention their unique style of properties.According to the Spanish National Institute of Statistics the home sales and purchases increased by 16% in August 2017 compared to last year figures.

During the worst years of the financial crisis in Spain there was an enormous amount of residential properties being abandoned thus leaving the infrastructure to be on a standstill, but due to the recovery of the housing market more buildings are being completed thus painting a brighter picture in the property industry.

Mallorca is by far one of the top places to contribute the rise in property investments during the years, due to its balance between being a cosmopolitan city while still preserving the Spanish culture.Over the years Mallorca has been an ideal location for people to purchase properties for retirement purposes or summer houses but in recent years there has been a more permanent relocation of the younger generation to start new adventures. It is a place where people come to mend a broken heart or find love or just start a new life no matter what the reason is the land is magical and has ways to ensure you get what you desire. Here are some factors as to why-

Lifestyle

With a migration of such diverse nationalities over the years Mallorca has turned out to be an oasis of infused cultures along with the Spanish traditions. Due to many International schools, Michelin star restaurants and activities to do on the island it has increased the interests of many nationalities to make Mallorca their home. It provides families or couples who move here a better quality of life, a different upbringing for their children and most importantly a safe environment. The environment of living on an island with both sea and mountains embraces your life with the best energy, you wake up in the morning and take a 1 hour powerwalk by the sea with a stop for breakfast. On the weekends you go up in the mountains to hike and end up in a small local restaurant overlooking the mountains or the sea and in that very second you immediately feel a sense of freedom, the stress-free sensation begins as soon as your planes touches the island. The quality of food and wine is also a great surprise, the people almost never leave the island because they believe they are living in Paradise, and after spending a couple of years we understand them completely. Mallorca can also be your Paradise and last destination- we found our treasure island.

Real Estate

Despite complicated ownership structures in Mallorca we have one of the highest sales of second hand homes which has risen by 14.9% year after year, hence the number of homes purchased in the Balearic Islands are 153 homes per 100,000 inhabitants. These numbers are predicted to rise as the GOLDEN VISA for non-EU citizens gives way for foreign investment also the migration from Scandinavian countries, British and the Germans of course. The Golden Visa is a law which offers residency permits to non-EU nationals in return of investment of 500,000 euros or more in Spanish property. This law is made to attract foreign investments to help create job opportunities and real estate. With such diversity of nationalities, the homes being bought today has evolved and become a perfect blend of the architecture, interior design and art collections of different nationalities which paints Mallorca to be a brighter place to live in.

So here is one of the perfect example of a property where the fusion of Scandinavian style interiors meets with the facade of Spanish architecture.

Location: Santa Catalina, Palma de Mallorca.

This dream home from the late 1800 century with a lot of character and charm, close to the sea. The ground floor consists of 196m2 distributed over a large living room and kitchen, a terrace overlooking the pool and bay, two spacious bedrooms and two bathrooms, The basement consists of 81m2 distributed over one bedroom, one bathroom, a dressing room and an old bodega turned into a modern wine cellar.

If there is an interest know more about this property or you are curious about the latest trends of the interior or the art world contact us.

 

Palma Markets' philosophy is to bring together real estate, interior design, visual arts and « art de vivre » as seen through the same lens.

Contact Us

   Carrer de la Protectora, 1.

07012. Palma. Mallorca. España

    +34 608 124 301

   info@palmamarkets.com

 
© 2018 Palmamarkets  |  All Rights Reserved