Home » Property in Palma de Mallorca (Majorca) 2008

Property in Palma de Mallorca (Majorca) 2008

2008 Report (index)

This report on property in Mallorca has been written by Jan Westwood of The Property Finders Mallorca. The Property Finders are buying agents who represent the buyer, not the vendor. For Jan Westwood’s contact details see The Property Finders.

Property in Palma de Mallorca (Majorca)

Palma is a chic, safe city with a medieval quarter. Only ten minutes from the airport, it’s fast moving upmarket and attracting younger buyers and Euro commuters – 19.7% of its population are non Spanish.

It’s extremely easy to find your way around and to park though many city buyers happily dispense with a car and rely on public transport and the taxi services.  Palma city council is soon to introduce a bicycle lending scheme too.

Palma de Mallorca is going green

There are now more green and pedestrian areas, but as these are created, so are hi-tech underground car parks which guide you to vacant spaces with green lights.

A state-of-the-art underground vacuum system whisks away city rubbish, and with the introduction of heavy fines for littering, the city has become altogether a cleaner place to live.

Infrastructure upgrades in Palma de Mallorca

Work continues on the first phase of the island’s new metro system, expected to be fully operational in April 2008, connecting the main railway station in Plaza España to the university, and a third lane is to be added to the Via Cintura ring road on the stretch from Valldemossa to Genova.

Property redevelopment in Palma de Mallorca

Costly renovation programmes in the old city are still in evidence, with facadism often favoured (a compromise between demolishing and rebuilding, retaining the front elevation) sometimes incorporating the typical Mallorquin, glazed “winter balcony”. In this case, developers take the opportunity to install a lift.

Traditional features such as terracotta tiling,wooden beams and Santanyi stone window surrounds bump up the price of property.  Outside space and open views are not easy to find so lofts and penthouses are costly as are apartments in palacio type buildings with courtyards.  Prices range from €2500 to €6500 per sq metre.

Key districts of Palma de Mallorca

– Calatrava is a historical area of labyrinthine streets surrounding the cathedral.  Residents can apply for cards to barriers (hydraulic bollards) if they’re lucky enough to be part of the 5% who have a parking space in the old city.
– La Lonja, formerly part of the harbour side scene is a lively, trendy district with lots of bars and restaurants.
– Santa Catalina surrounding Catalina market has become hugely in demand, with its café culture and bistros.
– Prices have risen sharply in Portixol on the eastern fringe of the city.  Frontline fishermens’ cottages command top prices if they ever reach the market.  Molinar and Ciudad Jardin just along the coast offer an alternative though parking is still restricted.

Across from Portixol harbour, a very ambitious project gets underway in 2008.  Palma’s congress centre will change the look of the waterfront and establish the city as a competitive business destination.  It will provide a central auditorium, several conference halls housing over 2,000 people, a café and hanging gardens overlooking the bay of Palma.  Alongside this will be a five star hotel, gym, spa, bars and restaurants.  The winning design, awarded to spanish architect Francisco Mangado, resembles a gigantic fish on the shore, with laminated glass panels like shimmering scales.

© Jan Westwood (The Property Finders)


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