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Soliva (Banco Sabadell) have sold Can Puig palace in Mallorca for €5.15m, according to Spanish press reports. The buyer was a foreign investor group. With 2,506 sqm residential space, that works out at around 2,055 €/sqm. Not a bad deal. I forecast they will redevelop and put on the market for between 5,000 and 8,000 €/sqm in six months to a year’s time, maybe less.
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