Real estate in Mallorca. How to buy or rent cheap?

Mallorca is one of the most beloved holiday destinations in Europe. The biggest island of the Balearic Islands has a wonderful climate and an breathtaking Nature. All because of this, it is not weird that in the last years more and more people are interested in buying or renting real estate in Mallorca.

Buy property in Mallorca, Spain at its best

Mallorca has a population of approx. 23 percent that is not from the island itself. This region Of Spain is leading on the amount of foreign citizens. Thats why, when you decide that you want to buy or to rent a flat in Mallorca, a house or a villa, you do not want to feel like you are from another planet. On the island there are many Germans, English, French, Russians and other foreign nationalities. You always have someone to speak with in your native language.
The Island has an excellent infrastructure and other things:
  • 10 Primary schools who teach in almost every language you can think of;
  • 89 beautiful beaches
  • Many excellent restaurants, including 7 Michelin-Star restaurants
  • Over 300 Kilometer of cycle-roads
  • 24 Golf facilities;
  • 44 Harbours for yachts

Photo of yacht Parking in Mallorca

Photo of yacht Parking in Mallorca

The popularity of the island, and especially its wonderful resorts, has led to the fact that property prices in Mallorca are constantly creeping up. Therefore, in order to buy or rent a cheap housing, you need to first find the appropriate agency. We are proud to be able to offer you a purchase or rental on the most favorable conditions, whether it is an apartment in the center of Palma de Mallorca or a house by the sea.

At the moment, the average prices for villas are about $ 1 million. But such an acquisition is worth your money.

It should be noted that only 60% of the island’s territory is intended for construction - the remaining area is reserved for nature conservation zones. There are 10 national parks and reserves. There are lands on which new buildings are allowed only with certain reservations.

Real estate in Mallorca is both cheap and luxury - for any requests - from low-cost apartments to luxury villas. Most foreigners prefer to settle on the southwest coast. Their choice is based on the fact that it is in this part of the island that the infrastructure has reached its highest level. To get, for example, from Calvia or Santa Ponsa to the island capital - Palma de Mallorca - or to the airport, you will spend no more than 15 minutes.

In addition to the places listed above, in the south-west there are such famous resorts as:

  • Camp de Mar, Puerto de Andratx - municipality of Andratx;

  • Bendinat, Magaluf, Palma-Nova, Peguera - Municipality of Calvia;

  • Cala Mayor, Can Pastilla, Playa de Palma, Son Vida - Municipality of Palma.

In the east of Mallorca, Manacor, Can Picafort, Cala Ratjada and Cala Millor are especially popular, in the South - Cala d’Or and Santanyi.

Everyone dreams of living on this beautiful island. But what happens when you do not have the money to buy real estate in Mallorca, but you want to enjoy all the benefits of Mallorca?

Then you need to buy real estate at the bank. This offers you a big choice and the best prices.

Features of buying a property in Mallorca from the bank

This option of selling real estate in Mallorca by the sea allows you to seriously save everyone who wants to buy it with the maximum benefit. In this market segment, you can choose both new buildings and secondary housing. The range is very large, and the prices are the most attractive.

When a person acquires residential or commercial real estate on a mortgage, he, as it were, leaves his property as a deposit. This is a reliable guarantee that he gives the bank, pledging that he will return the loan taken from him. If, for some reason, the debtor is late in repaying the borrowed amount, his property will be up for sale. Becoming, on the basis of mutual written agreement, the full owner of the living space, the bank receives all the rights to further disposal of it.

The popularity of mortgage real estate is explained very simply:
- The cost of such housing is available. Confiscated real estate for non-payment of loans requires banks to pay taxes, and they are large enough, so the managers are trying to get rid of it as quick as possible. Usually you can buy this property at 30-50% cheaper than the market value.

- Purchase conditions are the most profitable. Selling commercial and residential space, Spanish banks offer luxury mortgage loans, reaching 80% of the estimated value of objects. Since the bank is interested in the early completion of the transaction, the registration of the sale and purchase and the loan granting procedure are greatly simplified.

- The selection of objects is incredibly rich. In the shortest possible time, you get a wonderful opportunity to become the owner of an inexpensive bungalow, a cozy flat, beautiful apartments or a luxurious villa by the sea.

Photo of Villa with sea view. Majorca

Photo of Villa with sea view. Majorca

For more information about collateral facilities currently available, as well as to get acquainted with the terms of their acquisition, you need to contact a consultant of our agency. We will be happy to help you buy residential or commercial property in Mallorca with a minimum of financial costs and without loss of precious time.

Cheap Real estate in Mallorca. Rent is a great option

The instability of the economic situation has led to the fact that some owners have problems with the sale of property in Mallorca. Moreover, the state of affairs is not affected in any way by its focus - it is difficult to sell both residential and commercial. Today, most buyers prefer to rent.

Residential property in Mallorca

Residential property in Mallorca

Especially popular began to use this option, how to rent a property with option to buy. This is an ideal way out for those who want to live in Mallorca, but do not yet have enough money to immediately pay off the full cost of housing. In addition, long-term lease with a buyout is beneficial to the owners themselves.

All commercial and residential real estate offered on the island’s market always meets the highest European quality standards. You will definitely receive the premises in excellent condition and with the most comfortable environment. In this view from the window will certainly be just gorgeous. No problems with plumbing, air conditioning, television or the Internet - everything works flawlessly.

Gradually paying a certain percentage of the cost to the owner of an apartment or villa, over time you can become the full owner of real estate in Mallorca by the sea or in the city center, whether it is cheap or elite. You can learn about all the features of the purchase through the design of a long-term lease by contacting our agency. Our consultant will competently answer all your questions and help you find the most suitable option.

It is very important if you are going to rent a property in Mallorca, to enlist the support of experienced professionals. The situation on the market is constantly changing and only specialists who are engaged in its constant monitoring are able, as soon as possible, to find the best offer that will suit you both in price and in comfort.

But if you have money and you are ready to buy residential or commercial property in Mallorca right now, you will certainly be asked the question: “Where exactly do this best of all?”. Consider several of the most attractive cities on the island with their capabilities and features. This will allow you to make a preliminary opinion and approximately understand which prices dominate in different parts of Mallorca. Let's start with the southwestern municipalities.

Elite real estate in Mallorca: business and leisure

On the territory of the municipality of Andratx is located the city of Puerto de Andratx, one of the TOP-25 most prestigious populated areas in the world. The average cost of one square meter of living space here is 6 (apartment) and 10 (house) thousand Euros. And this is at 2015 prices.

The harbor has an excellent marina, which can take over 450 yachts, and the view from it is truly fantastic. Marina Puerto de Andratx is recognized as one of the best in Mallorca.

A small minus of the city is that it does not really dispose to a quality beach holiday. However, very close - 5 minutes by car - you will find luxurious beaches covered with clean sand. Nearby is the picturesque island of Dragonera, so named for its outlines, similar to the dormant dragon. It houses a national park, the pride of which is the nesting grounds of unique species of birds.

The capital of administrative education - the city of Andratx - also has high housing prices. If you are interested in luxury real estate in Mallorca, the apartments here will cost you about 300 thousand Euros, you will have to pay at least a million for a villa, and an estate overlooking the sea will cost from 10 million Euros. Local villas with large plots of land are especially popular between  buyers. From the windows of these buildings is visible beautiful harbor with yachts.

Buying a home in this city, you can find a home with bonuses such as:

  • personal cinema;

  • own SPA salon;

  • private wine room;

  • underground parking.

Luxury real estate in Mallorca

Luxury real estate in Mallorca

There is a lot of luxury housing in the city. He is often visited by world famous stars. There are many gourmet restaurants and boutiques. Andratx is also proud of its elite golf club, modern art gallery and the culture center of Sa-Taronia.

Prefer secluded beaches and lower rates? Then you will certainly be interested in cheaper real estate in Mallorca in the resort village of Camp de Mar.

A peculiar highlight of the municipality of Calvia is the resort of Santa Ponsa. The beaches of the purest sand spread out in the bay. The city is simply created for a good rest, no matter how exquisite your hobbies are:

  • Do you like to eat? For you a variety of restaurants with varied cuisine.

  • Like to cut the azure waves under sail? Yacht clubs will open their doors for you.

  • Want to learn to ride? At your disposal horse clubs.

  • Are you going to live on the island so that you can conveniently run your business? You can always rent or buy an apartment in two steps from the bank.

This city is chosen by those who are looking for cheap real estate in Mallorca - the elderly and large families, so Santa Ponsa is quiet and comfortable.

Can not do without entertainment from evening to morning? So, you are interested in buying a home in Magaluf. It is the real entertainment capital of the island. For adults, there are many pubs and the famous BCM Planet Dance Disco Club. Children in the city will not be bored either. They can visit the aquarium, water parks, dolphinarium, amusement park "Kathmandu". In addition, there is an ultra-modern karting track in Magaluf.

Those who love to have fun, but prefers to live in more quiet places, we recommend to consider the option of purchasing or renting housing in the town of Palmanova. One of the advantages of this choice is that it is very close to Magaluf.

Summing up the south-west of the island, it should be noted that if you want to buy or rent property for:

  • families, choose Cala Mayor, Palmanova, Santa Ponsa, Playa de Palma, Peguera, Can Pastilla;

  • year-round stay - Palma;

  • skiing on your own yacht - Puerto de Andratx or Palma;

  • maximize the pleasure of entertainment - Magaluf.

To those who are completely unlimited in their financial capabilities, we recommend villas in Son Vida, Bendinat and Andratx

Cheap property in Mallorca. Prices from east to south

The advantage of the eastern and southern coasts of the island is that their resorts are far from the capital and the densely populated north-west. Real estate in these areas are interested in those who love solitude.

Photos of inexpensive real estate in Mallorca

Photos of inexpensive real estate in Mallorca

Amazing contrasts await you in the east of Mallorca - from modern new buildings to perfectly well-maintained resorts to ancient cities. And buying a property in Mallorca in these areas will cost you much less. Villas, for example, cost about 500 thousand Euros.

Can Picafort is famous for its advanced infrastructure. To live without problems, everything is here:

  • cafe;

  • bars;

  • restaurants;

  • attractive residential areas along the coast;

  • supermarkets.

The local beach, whose length is 9 kilometers, is marked with a blue flag, which confirms its impeccable cleanliness and comfort. The sea is shallow off the coast, which is why the city is great for living and recreation with children. Asking price for apartments about 200 thousand Euros.

Cala Ratjada is a major fishing center on the island. It will be the perfect place for lovers of fresh seafood. In the winter season, housing prices are significantly lower. Apartments, for example, are already from 100 thousand Euros.

Manacor is a city that is second only to the capital of the island. It is famous for its artificial pearls, which are very popular among tourists. In addition, the famous tennis player Rafael Nadal, who was born here, brought fame to Manacor. Among foreigners, housing located by the sea is in special demand.

The south of the island has a hotter and drier climate. Here are the best beaches of Mallorca - Es Trenc and Cala Mondrago, located in cozy coves. Foreigners do not like to settle in these quiet places, so prices in the south are not so high. A rural house, for example in Cala d’Or, can be bought for only 200-300 thousand Euros. The city of Cala d’Or itself is clean and tidy.

So, if you love family vacations, we recommend Can Picafort, Cala Millor and Cala Ratjada, young people are advised to Cala Millor, and for those who love nature and peace - Manacor, Cala d’Or and Santanyi.

In one article, it is simply impossible to tell about all the resorts of this beautiful corner of Spain. Our real estate agency in Mallorca will always help you. Contact us!

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