Property in North East Mallorca

2008 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

North East Mallorca Properties

The north east of Mallorca has benefited from recent infrastructure developments to the road system from Palma to Manacor and onward to Artà and Cala Ratjada, which has reduced travelling times and increased ac- cess to many areas. In addition, the marina at Porto Cristo is to be expanded and the whole area is benefiting from a general “facelift”. At the same time, there have been some interesting new top end apartment developments at Port Verd.

This region features the combination of beautiful landscape and rugged mountain areas with great beaches and little coves. Artà is a popular typical Mallorcan town which retains its character and historic traditions. The region has four golf courses and plenty of activities for all the family.

Property values here have increased in 2007 at around 5-10% and most property under €1 million sells within 18 months. The most requested properties are apartments, country houses/fincas, villas and town houses and you would expect to pay around €200,000 for an apartment up to €500,000 for a townhouse and just under a €1 million for a villa. Frontline property here is still affordable compared to the south west Mallorca.

The main market here is German (60%) followed by British (15%) and Spanish (15%) with a mix of Swiss, Scandinavian, French, Dutch, Belgian and some Russians. The majority of buyers aged 40-50 and 70% are buying a second home and 25% are buying a first residence. The average spend for the majority of buyers is around €500,000 increasing to over €1 million for Swiss buyers.

The local office reports a great deal of confidence in this area and expects to see more buyers looking for frontline property, which is still affordable in areas such as Canyamel with frontline views for less than €1 million. Reasonably priced, elegant villas are still available in Costa de los Pinos. For townhouses look at Son Servera and Capdepera. Porto Cristo is expected to boom and Port Verd is also up and coming.