 Llucmajor Property
2007 report
This report was prepared by Engel & Völkers, a real estate agency with offices in many of Spain’s most popular destinations. It is reproduced here with permission. More information on Englel & Völkers
Llucmajor Mallorca Properties
Llucmajor is one of Mallorca’s largest
regions located on the south coast. It
offers everything from the historic town
of Llucmajor to tourism resorts along its 43
kms of coastline with five main beaches and
beautiful countryside inland. Rural areas are
generally quite flat with large areas of fields
and open countryside free of buildings or
industrial developments mainly because there
are many large agricultural farms and fincas in
this area.
It is an excellent area for sports with two golf
courses, almost 200 kms of dedicated cycling
routes, sailing and watersports facilities and a
wide variety of walks through the mountain
areas such as Randa or along the coast.
This region provides excellent value for money
considering its proximity to Palma - now even
closer because of the newly opened motorway.
The local Engel & Völkers representative
estimates that this factor has increased sales
by approximately 10%.
The Buyer
The German market has been buying here for
some time and accounts for 30% of all sales.
However, the British only account for 10% of
sales although interest from British clients is
increasing. The rest of the market is made of
Spanish, Scandinavian, Irish, Swiss etc…
The most requested urban areas tend to be
on the coast: Son Veri Nou, Cala Blava and
Maioris Decima. Popular rustic areas include:
Vista Alegre, Son Monserrat and Puig de
Randa.
Property Values
In the last five years as this area has been
“discovered”, prices have shot up by as much
as 110%. In 2006 prices steadily increased at
around 6-10% with the greatest increases for
apartments particularly frontline or with good
sea views.
Recently clients have started to show more
interest in the area mainly because here
frontline property to the sea is still affordable
in comparison to other areas of the island. The
average price of an apartment costs around
€295,000 and a substantial finca around the €1
million mark.
Tips for Investors in 2007
The region is wide open for property investment
as practically everywhere still represents good
value in comparison with other established
residential areas of Mallorca. Frontline property
is always a good investment and on this coastline
you have the added benefit of excellent views of
Palma Bay, particularly by night.
Old town houses in the centre of Llucmajor,
especially the area around the town hall, are also
well primed for investment. Our local Engel
& Völkers representative predicts a similar
situation as existed in Palma 15 years ago
when there was little demand for these types of
properties and now prices have shot up. |
