Property in South 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

South East Mallorca Properties

This area of the island is still holds many surprises for the visitor. The new motorway from Palma has improved access with a journey time of around 35 minutes to Palma Airport. Here there are many lovely beaches, quiet coves, traditional fishing harbours, gently rolling landscape and picturesque villages where Mallorcan traditions and culture are still alive.

In the south east 2007 was a good year with a positive increase in property values in most categories up to 20% for plots of land which are much in demand. The most requested properties are contemporary design houses, fincas and properties that need renovation.

A well appointed villa averages €1 million increasing to €2 million for a contemporary designer house. Townhouses can be picked up for around €400,000 and apartments at around €300.000. The market is buoyant and most property under a €1 million sells within 6 months. Property over a € 1 million plus will take around 12 months and if correctly priced the local office reports that vendors are achieving good returns.

The main markets here are German (60%) and British (20%) followed by Spanish, Scandinavian, Swiss, Austrians etc… Most are buying a second/holiday home. It is a mature market with the majority of buyers in the 40 to 50 plus age category. The average spend by foreigners is also substantial; around €1 million for Germans and €850,000 for British buyers.

The villages and traditional fishing harbours such as Santanyi, Cas Conco, Porto Colom, Porto Petro, Cala Figuera and S’Horta tend to be the most popular areas. There are still many areas offering good value here including Son Macia, Fela-nitx, Porreres, Cala Murada and Sa Rapita. Our local office advises buyers to look at front line properties or hilltop locations with the best views, which are still the most requested and more affordable here in comparison to many other areas of the island.