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5 things to know about buying property in Mallorca

5 things to know about buying property in Mallorca

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The market is stable but changing

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Property in Port Andratx

The Balearic island of Mallorca offers a sunny escape at the heart of the Mediterranean. Easy to get to, notoriously safe, culturally vibrant and enjoying a high-end tourism boom, Elizabeth Finney discovers what you should know about buying property in Mallorca.

Traditionally an island popular with Germans and the British, the island’s growth into a more luxury destination has gained interest from a number of different markets.

“From a macro point of view, seeing it from a global perspective, we’ve seen that Mallorca and the greater Balearic Islands have shown a great increase in international buyers,” says Michael Valdes, global vice president of Sotheby’s International Realty.

In the last five to ten years, it seems a new breed of buyer has started to take notice of the stunning surroundings, the exciting new build properties that perfectly blend traditional Mediterranean and modern design and the plentiful superyacht marinas peppered around the coastlines. While Mallorca offers plenty of rental opportunities, the island boasts a sense of community that international visitors return to regularly, especially in Port Andratx on the south-western side.

“Before, it was a very German market in Port Andratx, but it’s completely changing now,” says Mallorca Sotheby’s International Realty (SIR) sales manager Simon Bugge Jensen. “In previous years there have been a lot of British buyers – that went on hold a little after Brexit but now they’re coming back again. A lot of Swiss people are buying here and there is also a whole Danish and Scandinavian hub growing.”

“Mallorca is a destination that has grown in popularity and has grown in everything it has to offer,” adds Valdes. “It’s incredibly cosmopolitan and its gastronomic scene has increased exponentially. All that really attracts a very sophisticated international buyer looking for a secondary or even tertiary home. You start seeing the stability of this market on a luxury scale and it’s impressive.”

Picture courtesy of Mallorca SIR

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Know what makes your ideal property

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Mallorca high end lifestyle

For yachties, there is no more appropriate holiday home that this house in Port Andratx, which is as luxurious as a superyacht. Contemporary interiors with modern amenities balance out a Mediterranean, stone-clad exterior, while a 25 metre berth lies at the end of the staircase-like gardens. Characterful and spacious with six en suite bedrooms to accommodate guests, this incredible waterfront property is not to be missed.

Current owner Graham Wellesley says he bought the property having only seen a picture of it. “When we decided to buy a home, I wanted somewhere without a busy commute from Palma, not too German and not too English. We looked at several properties, then this property came onto the market,” he says. “I’m very into sailing and yachting, and I also didn’t see the point of going to a Mediterranean island where you didn’t have access to the sea. I said we have to take advantage of this opportunity now. So I started the purchasing process before I even came back to Europe.”

While the properties available in Mallorca are extremely varied, surprisingly few have immediate access to the water. Wellesley, who has recently placed his unique estate on the market and has been holidaying in Mallorca for more than 35 years, explains the importance of knowing what you want from a holiday home.

“The reason I bought it knowing the island was its pure rarity. I knew the port for sailing – it’s really quiet here and Port Andratx is its own micro-community. Most people come back every year so everyone knows each other and it’s very friendly,” Wellesley says. “For the children it’s very sociable and I don’t have to drive them everywhere, they can walk down to see their friends and walk home completely independently and it’s totally safe.”

Picture courtesy of Mallorca SIR

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There are some idyllic cruising grounds

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Bay of Cala Pi Mallorca

For those chartering in Mallorca, the restrictions are milder than in the rest of Spain. Recent legislation states that yachts registered in non-EU countries are permitted to charter in the Balearics, an allowance that doesn’t extend to the rest of Spain. Additionally, as of January 1, 2018, the Balearic Government Licence required for charters will be valid for two years instead of just one. This, in addition to the flourishing Copa del Rey regatta that was sponsored this year by Mallorca SIR and grows in popularity each year, makes Mallorca an enticing spot for yachting.

“There are so many little coves that you can pull inside and anchor up,” says Wellesley. “There are a lot of little hidden ones that you wouldn’t even know were there – the island from the sea is completely different than inland. When you go up the west coast there are only beautiful little fishing villages, otherwise all you see is open pine tree forests, goats walking around and the towns are spread out immensely so it’s not as populated as people imagine.

“Go to Dragonera, which is on the south-western corner of the island,” Wellesley continues. “Then go up the west coast where it’s all national parkland. The penultimate top north-western corner is Soller and before that is the famous town of Deia, the artists’ community who's most famous resident was the poet laureate Robert Graves.”

Aside from the stunning anchorages scattered around the Balearics, Mallorca is home to a number of marinas with superyacht facilities, including the Stark Marina at Port Adriano, which can host yachts up to 100 metres and was designed by Phillipe himself. Additionally, Club de Vela caters to yachts up to 60 metres while Port de Mallorca can berth yachts up to 50 metres. With seemingly endless options, it’s understandable why the island is becoming more popular with the yachting community.

Picture courtesy of Shutterstock.com / Allard One

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