Luxury Property in Mallorca for Sale
An Overview of the Luxury Real Estate Market in Mallorca
The luxury property market in Mallorca has experienced significant growth over the past five years and shows no signs of slowing down. What defines luxury properties in Mallorca? Which regions command the highest prices for houses and villas? And which celebrities own property in Mallorca?
This article covers the following topics:
Investing in a luxury property in Mallorca is a wise capital investment and a popular trend. Despite the high costs, these properties remain in high demand due to the island's popularity as a European holiday destination, developed infrastructure, transportation links, and increasing demand for real estate.
The top four locations with the highest average prices per square meter for luxury properties in Mallorca are:
2. Costa den Blanes/Calvià (7.841 €/m2)
3. Port d'Andratx/Andratx (7.790 €/m2)
4. Son Vida (7.297 €/m2)
as of June 2023
Based on statistics, property sales in the Balearic Islands have increased by 14.11% in the last year, with Mallorca's average cost per square meter rising by 14.3% in the past 12 months. Even though the pandemic caused lockdowns for two years, the demand for luxury properties has remained constant, making real estate a desirable investment option that offers both direct capital appreciation income and an opportunity to reside in a comfortable climate close to the sea. Yes! Mallorca Real Estate provides a comprehensive property market overview, and their website contains up-to-date information on current real estate prices in Mallorca.
Luxury properties are scattered throughout Mallorca, but some locations are more prestigious than others. One such place is Son Vida, situated in the rolling hills behind Palma, and renowned as the Beverly Hills of Mallorca. This highly desirable area attracts those seeking to purchase luxury properties.
Son Vida's hilly terrain allows for the perfect placement of luxury villas and houses with stunning views of the Bay of Palma and the surrounding areas. Golf enthusiasts will also find themselves in paradise as there are ideal golf courses nearby. Despite the peaceful and quiet atmosphere, the suburb is just a stone's throw away from the island's capital. This part of Mallorca boasts a rich history dating back to the 13th century, with the luxurious Castillo Hotel Son Vida situated in a historic castle.
In addition to its stunning views and rich history, Son Vida's security is another advantage. It's a closed area, with security and video surveillance, and without the hustle and bustle of tourists, making it an enjoyable place to live for locals. However, the location contributes to the cost, with a 30% increase in property prices. Although it's hard to accept that identical houses or flats can have vastly different prices based on their location, it's a common feature of the luxury real estate market in Mallorca. If you want personal advice on whether the price is justifiable for this location, contact us!
Puerto Andratx boasts the most stunning sunsets along the coast and in its harbors. Once a fishing village, it has evolved into an exclusive urbanized destination without losing its unique coastal town charm. In fact, this charm attracted Brad Pitt to buy a villa here after filming the movie Allied - Familiar Strangers in 2016. Port d'Andratx ranks third for the highest prices per square meter, with the top villas ranging from 6 to 16 million euros, but some can go up to 25 million.
Portals Nous-Bendinat in Mallorca is known for having the most expensive properties due to several factors. Firstly, it is located in one of the most exclusive areas of the island, with stunning sea views and close proximity to some of the best beaches and amenities. Secondly, the area is home to a number of luxury villas, mansions, and high-end apartment complexes that cater to the wealthy and affluent. Additionally, Portals Nous-Bendinat is known for its high-end shopping and dining options, as well as its world-class marinas, which attract some of the most expensive yachts and boats in the Mediterranean. All of these factors contribute to making Portals Nous-Bendinat one of the most desirable and exclusive areas in Mallorca, with property prices to match.
It's been reported that several ‘rich and famous’ own property in Mallorca, including Michael Schumacher, Claudia Schiffer, Annie Lennox, and Rafael Nadal.
Western Mallorca boasts a unique and diverse range of natural beauty. The Sierra de Tramuntana and its surrounding mountains offer a stunning backdrop for rustic fincas and luxury villas. Deià and Soller are the primary locations for rural luxury properties in this area.
As of May 2023, the average price per square meter in Deià was €6,731, reflecting the high demand and limited supply in the region. The cost of fincas near Deià and Soller can range from 10 to 13 million euros, making this region a favorite among celebrities. The high property prices in Deià are justified by its picturesque and serene setting, nestled at the foot of Rocky Mountains. Walking through its winding streets to the sea offers stunning views of the blue sea contrasting with the typical Deià sandstone buildings.
Mallorca's luxury real estate market offers a diverse range of architectural styles beyond the traditional luxury villas and private country houses with large plots of land. From classic Mediterranean-style villas to fully automated, high-tech smart homes, discerning buyers can choose from various options.
While it is often assumed that luxury properties must have a sea view and be located on the coast, there are also options for buyers who prefer to be close to golf courses or fincas, which are luxury turnkey country estates in Mallorca surrounded by gardens. Additionally, there are luxury flats and apartments designed for those who prefer to move around the island frequently or spend most of their time on personal yachts.
If you're in the market for a luxury property, there are many reasons why you should consider buying in Mallorca with Yes! Mallorca Property. With our strong experience in this field, we can offer you unparalleled expertise and guidance throughout the buying process.
Mallorca is a truly special destination, boasting stunning natural beauty, a vibrant cultural scene, and a relaxed, laid-back lifestyle that's perfect for those looking to escape the hustle and bustle of city living. From the rugged cliffs and sandy coves of the coast to the rolling hills and charming villages of the interior, Mallorca offers something for everyone.
At Yes! Mallorca Property, we specialize in luxury properties that showcase the best that the island has to offer. Whether you're looking for a sprawling villa with ocean views, a historic finca with acres of land, or a stylish penthouse in the heart of the city, we have the expertise and resources to help you find your dream property.
Our team of experts has a deep understanding of the local market, as well as strong relationships with banks, notaries, and other key players in the buying process. We'll work closely with you to ensure that you find the property that meets your needs and exceeds your expectations, and we'll be there every step of the way to answer your questions and offer guidance.
In addition to our expertise, we're committed to providing exceptional customer service. We believe that buying a luxury property should be a smooth and stress-free experience, and we'll work tirelessly to ensure that you feel supported every step of the way. Whether you have questions about the buying process, want to learn more about a particular property, or need help negotiating the terms of a deal, we're here to help.
Another reason to choose Yes! Mallorca Property as your real estate broker is our commitment to transparency and honesty. We believe that open communication is key to a successful real estate transaction, and we'll always be upfront with you about any potential issues or challenges that may arise during the buying process.
In short, if you're looking to buy a luxury property in Mallorca, there's no better choice than Yes! Mallorca Property Team. With our strong experience, local expertise, and commitment to excellence, we're confident that we can help you find the property of your dreams.
So why wait? Contact us today to learn more about our services and start your search for the perfect property in Mallorca.