COUNTRY LIFE PROMOTION
Buyers are back in business on Mallorca. According to figures released by the research team of Engel & Völkers, the number of houses and apartments bought by German and British buyers so far this year has already exceeded levels set at the height of the boom in 2007. All 16 offices on the island are reporting strong sales with an overall increase of 63% during the first quarter. And German buyers are being joined on the bidding process by Scandinavian, British firepower with some Russian interest and initial requests from Chinese investors coming through.
While the average house price purchased through the South West office is currently €1.4 million, the apartment market is taking off with the big success story of the year so far being the sales of Bendinat Mar in San Augustin where 40% of the apartments in the fully serviced seafront block were sold to Swedish buyers off plan.
But not all the action is in the south west: apartments in Palma Old Town which have outside space and which are located close to El Born, known locally as Palma’s Golden Mile where all the big name boutiques are opening, are flying as outside investors cotton on to the increasingly trendy scene opening up in the island’s pretty capital city.
Other hotspots include the Son Vida golf resort which is focused on Mallorca’s top end real estate market and where sales have doubled over the same period last year as well as the centre of the island where, according to Christina Deutsch: ‘We are currently seeing more demand for modern fincas built in the traditional style and with contemporary interiors, high ceilings, large windows and light-coloured furnishings. Buyers want privacy but with village amenities close by.’
Turning to the west, the mountain village of Deià remains a favourite for British buyers. But it doesn’t end there. Townhouses in Sóller and Fornalutx are now in demand, as are apartments in the Port Sóller.
Meanwhile, British, German and Scandinavian buyers are also looking north around the attractive town of Pollensa where the local office of Engel & Völkers are currently marketing the attractive six-bedroom country estate Can Oliver for €3.2 million.
The house, which is just outside the centre of the town, was bought by Sarah-Jane and Chris Moore 11 years ago as a holiday home for their growing family. ‘My husband jokes that we went out to buy a loaf of bread and ended up with a house,’ says Mrs Moore from their main home in Oxfordshire. ‘We chose the area because we wanted somewhere quiet and with space-the house has 6 acres but at home in the UK we have 300 acres-and also somewhere that was family friendly.’
For more information please visit the Engel & Volkers Mallorca website.
