 Pollensa and Puerto Pollensa 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
Pollensa Property
Generations of visitors have been enjoying
the delights of Pollensa and Puerto Pollensa
for many years. The first hotel to
open on the island in 1907 still stands today in
Pollensa’s town square, where there is life all
year round and particularly on Sundays when the
market is in full swing.
This area has a rich history, culture and architecture
of its own, which is celebrated annually with its
music festival held in the Cloisters of the Santo
Domingo church and the famous traditional
Moors & Christians “fiesta” held every August.
The surrounding area includes Cala San Vicente,
and villages down to Campanet.
Puerto Pollensa is a popular family resort with its
famous pinewalk promenade and beautiful views
across the Bay and to the mountains. It has excellent
sailing and watersports facilities and offers a
good social calendar alongside these activities.
The Buyer
The market is dominated by the British in
Puerto Pollensa, which accounts for 80% of
the sales, with Germans (15%) and the Spanish
(5%). These clients are generally looking for
a holiday property and will, on average, spend
approximately two weeks of the year there. The
most requested properties are apartments, fincas,
villas and plots.
In Pollensa there is a market shift with the British
accounting for approximately 45% of the market,
Spanish make up 25%, Germans 18% and the rest
is split between Scandinavians, Irish, Belgians,
Russians and French. The most requested
properties are villas, fincas and plots.
Property Values
In Puerto Pollensa the price range is from around
€200,000 to 2.5 million and increases last year
were about 12%.
In the area around Pollensa town prices start
from approximately €220.000 to 2.2 million
which increased last year by around 12-17% and
anything up to 23% for plots.
In the town and the port the demand for property
has increased considerably since the completion
of the new motorway, which has halved the
journey time from Palma and this in turn has
pushed up prices by approximately 12%.
Rental Market
The rental market in this area is one of the
largest on the island and certainly very lucrative.
Approximately 50-70% of all clients are
interested in letting their property. In high season
rental yields for a top villa can average €4,000
euros per month. However, clients wishing to
rent out their property for short term holiday
lets must seek the advice of a lawyer as the local
government has recently changed legislation and
all holiday rentals must be licensed.
Tip for Investors in 2007
Property around Campanet represents good value.
The new motorway and new rail link to Sa Pobla
means much easier access and will open up the
market. In the Port area, apartments in the centre
are still well priced, villas in Siller and Gommar
(just outside the Port) are also worth investigating.
Plots in Gommar still represent good value.
The beautiful peninsula of Formentor will
also experience a revival when its famous
Hotel Formentor re-opens after a complete
refurbishment. |
