What do you think of this villa in Mallorca?

Spanish Property Insight Forums Spanish Property Forums Real Estate Topics, News & Discussion​ What do you think of this villa in Mallorca?

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    • #55263
      Anonymous
      Participant

      I get sent a lot of property sheets, but this one caught my eye. Albeit not having visited to see for myself, it struck me as quite a reasonable asking prices for a new build of this size in Mallorca.

      Mallorca villa asking price reduced by 40pc to Euros 895k

      Just curious what others think.

      Mark

    • #94770
      logan
      Participant

      Price reductions in this context are marketing hype and fairly meaningless because the original price was quite unrealistic. Property developers in the past thought the market would stand anything they threw at it. 500K would be still expensive for this property. The world has changed.

    • #94803
      Anonymous
      Participant

      It looks nice. 500,000 euro is a lot of money though!

    • #94805
      Fuengi (Andrew)
      Participant

      I agree with logan.

      the latest TINSA report states that for the islands the sqm comes out at 1672 euros.

      So a property of 345sqm would value at 576840 euros
      of course there is a very large plot of land as well (15,484 sqm), so that should help the valuation.
      But is it is a ‘country’ villa, ie a finca, so the banks would only give a 50% mortgage in 99% of cases and the sqm would not value like urban plot/builds.

      furthermore from the photos there is no way that property is 345sqm unless the basement equals or is close to the size of the ground floor. And you cannot give the basement the same value per sqm as the above ground floors.

      My opinion only though

      EDIT: I don’t know the islands that well. maybe this property is in a very exclusive area that helps bump up the price?

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