Super value family villa with lovely gardens and a great swimming pool. Being close to the Mallorca International School, this is an idea property for a family wishing to live in this beautiful part of Mallorca.

Why we like it

It’s got all the elements of a great family villa. Close to an international school, a lovely private garden with a great pool, and a light and airy interior with plenty of space. This is one of those properties that just feels comfortable and ready to move into. And it’s on the market at a tempting price of 495,000 Euros.

Details

Ref.CR2 | 5 bedrooms | 3 bathrooms | Built size 313 m2 | Plot size 2,012 m2 | Price 495,000 Euros

The villa is set over two stories. The ground floor comprises of a very light and spacious open-plan living / dining room with wood fireplace. Double doors lead out to a large covered terrace. There is a modern, fitted kitchen with a family breakfast / dining area. Then there are four double bedrooms and two bathrooms.

The first floor is given over to the master suite with its own bathroom. This opens to a large, wrap-around terrace that overlooks the gardens and pool. There is also a storage room on this level.

The house has been very well maintained and is in good order throughout.

Outside

The plot is some 2,000 m2 with mature gardens planted with native plants and trees. There are several terraces. These include the large covered dining terrace leading from the living room. There is a good, large swimming pool and an outdoor bathroom. Other features outside include an ornamental pond and a garage with enough room for two vehicles.

Location

Crestatx is a small, peaceful urbanisation a short drive from Pollensa Town, one of the most characterful and picturesque small towns in Mallorca. Pollensa has a great deal to offer with it’s weekly market, a multitude of fiestas, music events and other attractions through the year. This is complimented by a very good selection of international and local cafe bars, restaurants food and craft shops. There are a number of renowned golf courses in the area and most sporting activities are well catered for. The beaches and the boating marina of Puerto Pollensa are also within easy tricking distance for family outings to the seaside.

Features

Air Conditioning; fully fenced plot; swimming pool; mountain views; garage; close to shops, golf and other sports facilities; close to international school.

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The Kyero House Price Index Report has just been published giving stats on Spanish property prices for Q3 2019. The Balearic Islands were ahead of all other regions of Spain. It also shows prices in the Balearics to have recovered more than any other region since their peak before the financial crisis.

Kyero’s regular reports provide a valuable insight into current trends within the Spanish property market. Their qtr 3 HPI (House Price Index) report shows prices rising across Spain for the third consecutive time – an average of 4.7% year-on-year for the quarter. The Balearic Islands, Andalucia and Aragon are highlighted as leading this growth.

You can read the full Kyero report here. HPI Report Q3 2019 and Spanish house prices predictions for 2020.

Mallorca stands out as being a resilient and solid property market

Unfortunately we don’t have any data separating the Mallorca property market from the other Balearic islands. Empirically however, it seems likely the highest growth has been in Mallorca. And, as noted in previous market updates, growth within Mallorca itself has been strongly focused on the locations that are most sought-after by international buyers.

The report also shows The Balearics to be the region that has recovered most since the property crash that followed the financial crisis of 2008. Prices have not quite attained the same levels but are now just 5.4% below their peak. Another statistic that highlights the resilience and strength of the Mallorca property market over time.

Kyero predict further increases in 2020 and this ties in with our recent blog Mallorca property market – outlook for 2020. Whether we see some tail off in the rate of increase remains to be seen. We think this most likely will be the case, perhaps by way of a slight balancing out with other regions. But we’re ready to be proven wrong on this and it will be interesting to see if the qtr 4 figures give us any indication.

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Photo credit. Photo by Skitterphoto from Pexels

“A villa close to the beach” – one of those requests that pop up frequently. There aren’t however so many in Mallorca as one might think and good ones seldom come onto the market. This villa is just 80m from the long, sandy beach of Palma Nova in Southwest Mallorca. Despite this, it’s tucked away in a quiet location, making it an ideal family or holiday home.

Why we like it

The stand-out feature of this villa is it’s location. Finding a good quality villa this close to the beach in Mallorca is not so easy. Very nicely renovated in 2014, it has has plenty of living and entertaining space. Palma Nova boasts a long sandy beach that slopes gently into the sea, so it’s ideal for families. The surrounding area has plenty of restaurants and a wide range of leisure activities. Additionally, Palma and the airport are within easy reach.

Basic details

Ref.PBPN2 | 5 bedrooms | 5 bathrooms (inc guest cloakroom) | Built size 442 m2 | Plot size 961 m2 | Price 1,990,000 Euros

The property was very nicely renovated and has been meticulously maintained. The design is traditional on the outside, with the interior being luxurious, relaxed and comfortable. It’s very spacious and light, with the considerable benefit of being south facing.

On the ground level, there is an entrance area leading to open plan, living and dining rooms with a feature fireplace. Semi-open plan to this is a fully equipped country kitchen with breakfast area and utility room. There is a cozy “family” lounge / TV room, a guest toilet and a useful storage room. The living area has access to a covered dining terrace.

On the upper floor we there is a master bedroom suite with two walk-in dressing rooms, luxury bathroom and its own terrace. There is a second bedroom with bathroom and also an office.

The lower floor offers two bedrooms with an en suite bathroom. There is then a fifth bedroom, also with en suite bathroom, and a TV room (home theater/games room). Finally a laundry room. The lower floor works well as guest accommodation or can be used for further family accommodation.

Outside

Leading from the living areas there is a covered dining terrace and BBQ area. This overlooks a super swimming pool and the well-stocked Mediterranean garden. As the property is south facing it enjoys the sun pretty much all day long. It is secluded and private.

Location

Air conditioning; central heating and underfloor heating; double glazing; video entry system; alarm; automatic irrigation.

More info

Palma Nova is a resort on the southwest coast of Mallorca. In recent years there has been quite a focus on the area with it’s long sandy beach and easily accessible location attracting investment. This has led to Palma Nova becoming increasingly sought-after.

This villa is in a quiet spot but only 80m from the beach. There are shops, restaurants and bars within walking distance. Beyond this, there are high quality sports, leisure facilities and many entertainments within very easy reach. Palma is a short drive or cab journey away – close enough for shopping expeditions and evenings out. The airport is a short step on from there.

Other thoughts

If you’re interested in villas in Mallorca and you like the look of this one, this one might also be of interest – Ibizan-style villa with sea views. Or find out more about our property finder service and consider using us to look into the best options for you.

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The Mallorca property market has consistently shown itself to be one of the strongest in Europe over recent years. Here’s our start-of-year overview of the market and where we think it’s going from here.

A quick look back

The subprime mortgage crisis that first manifested itself in the US in 2007 was a seismic event. Excessive risk-taking by banks led to the global financial system collapsing close to a point of total disintegration. The ensuing global downturn earned the title “the great recession“. Property markets were caught right in the centre of the maelstrom. Nothing escaped, not even the most sought-after, prime locations.

The recession lasted for several years and the underlying effects are still with us. But one of the most surprising things was how quickly, and how strongly, these prime location property markets bounced back. But within this recovery, these markets changed complexion somewhat, Mallorca included.

To a large extent this rapid recovery was down to the low cost of finance. It would be wrong however to say that this renewed buoyancy was fuelled by cheap mortgages. The cavalier days of highly leveraged purchases, holiday rental apartments being bought on a 90%, 100%, 110% plus loan to value, were gone. At least for the time being. Rather, it was part of a broader financial and economic equation. Some of the huge amount of liquidity introduced into global markets was finding its way into property. The level of borrowing on property purchases is generally less than it was before. Mortgages are at lower percentage levels and, in many instances, have been taken out for the purpose of smart financial planning, as opposed to being essential to the purchase.

Prime locations have prospered

So prime property locations have prospered and Mallorca has been at the top of the list – a wonderful, easy-to-access place to buy a second home and a safe haven in which to invest your money. The focus has been on the established prime locations such as Bendinat, Puerto Andratx, Pollensa. Prices have risen, infrastructure and leisure amenities have been upgraded. Remaining plots have been been, or are being, developed. And because there are so few new sites available, there has been significant redevelopment, upgrading and modernisation of existing properties.

There has also been a knock-on effect on close-by locations. Places that were not so recognised have become sought-after. Cala Major and San Agustin for example, old and previously somewhat rundown seafront resorts immediately to the west of Palma, have seen a rapid increase in the purchase and refurbishment of seafront properties. Restaurants and bars have been upgraded and they are now chic, contemporary destinations.

Sol de Mallorca, situated between Santa Ponsa and Magaluf was, for many years, in the process of being developed but not really “on the map”. Over the past few years however it has matured. Apartment developments and villas have been completed, the infrastructure is all there and it is now firmly on the “sought-after” list.

Heading away from the coast, prime countryside locations have seen the same effect. Remaining available plots have been developed and older properties in good locations have been renovated and upgraded. 

Forecast for the Mallorca property market in 2020

In the latter part of 2019 the market cooled off slightly. This has not been dramatic but, looking ahead, we expect more of the same.

Observations

• Prime locations prices had moved up too far, too quickly in relation to other sought-after locations across Europe. We don’t think it was dramatically out of kilter and it’s natural for any market to steady itself if it has risen quickly.
• Brexit. Much as we hate to mention it, Brexit is a factor. It has dampened demand from the UK and there is still some uncertainty as to how Brexit will pan out. However, the Spanish government has made it very clear that they will continue to regard the British as close friends who are very welcome. The British contribution to the tourist industry and the property sector in Spain is huge. It’s a very important part of the Spanish economy. It seems likely therefore that things will settle down and pent-up demand from the UK will re-establish itself over time, possibly quite quickly once the political jockeying settles down.
• There are question marks over the health of other key European markets; most notably Germany as Germans are key buyers in Mallorca. The impact has not been dramatic to-date.

The year ahead

So, while the Mallorca property market continues to show underlying strength, we expect prices to increase at a lesser rate and potentially flatten out for a while. There may be some rationalisation too, with more ambitiously priced properties coming into line with the general market. At this stage there is no indication of any significant pullback being on the cards.

Leading on from this, Mallorca is quite a small island. And the prime locations for international buyers make up a relatively small percentage of it. So the stock of available properties is similarly small. With buyers coming from across Europe and other parts of the world, demand for properties in these locations is usually exceeds supply. This, coupled with there being less highly-leveraged mortgage funding in the market, should underpin the market’s resilience in years to come.

Away from the prime areas, increases have been less and properties continue to be more affordable. Media coverage of Mallorca often gives the impression that it’s become a Millionaires’ playground, exclusive to the wealthy. But that is not the case. Recently we sourced a good southwest coast apartment for a client for less than 200,000 Euros. It was an exceptional find. If you want sea views or to be next to the beach you’ll likely be looking at more. Location, as always, is key and prices vary significantly from one place to another. With this in mind however, there’s still scope at lower budget levels and, as noted above, the most exclusive locations represent a relatively small part of the island.

And we’re pleased to note that, while the character of the island has inevitably changed over time, it still retains the essence and charm of the place that has attracted people for so many decades.

More people are relocating to Mallorca

Another notable trend has been the increase in the number of people looking to relocate permanently to Mallorca. In many such instances, a location slightly away from the prime coastal spots is preferable. Another significant draw for people to relocate to Mallorca is the international schooling. Both the quality and the number of international schools in Mallorca has increased in recent years, giving parents more choice both in the type of education they can decide on for their children and the location they can choose to live in.

Summary – what does this mean for property buyers?

The property market in Mallorca has been on the up now for some years. In our view it will level off somewhat and possibly flatten out for a while. Prices could even fall but there is no indication of that at present. The key underlying point is that Mallorca has, for decades, shown itself to be one of the most resilient property markets in the world and there is no reason to think that this might change. So people looking to buy a holiday property, second home, or permanent home in Mallorca can feel confident they will be buying into a market that has consistently proven itself to be solid and safe.

Realistically, it’s a “sellers’ market” at present, which means so-called bargain deals are pretty much non-existent. Conversely, some properties, particularly in prime locations, are on the market at rather ambitious prices. However, many are not. Buyers need to assess the realistic value of properties then use this as a reference for negotiating a sensible price and getting the best deal. Admittedly this can be difficult as there are no readily available stats at a local level. It is one of the many areas where we can provide valuable assistance.

Research is key

There is no substitute for on-the-ground research. The more you can do the better. Desk and computer-based research is useful to an extent. But inevitably, properties are presented in their very best light. It’s remarkable how close to Olympic-size a plunge pool can appear when photographed from the right angle! In our view, the best way to be sure your valuable viewing time on the island is spent on the right options – those that tick all the right boxes and don’t have any unacceptable downsides – is to have an impartial representative, such as ourselves, do it for you.

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Photo credit. Property market – Photo by Lukas from Pexels

Larger than usual traditional townhouse in Alaro, with its own swimming pool and a lovely garden. Located in the pretty mountain village of Alaro, on the western side of Mallorca. Sensibly priced and in very good order throughout.

Why we like it

As noted in our recent posts on townhouses in Pollensa, it’s unusual to find townhouses with good sized gardens rather than patio terraces. Pools are an even more sought-after feature. This townhouse in Alaro has both. It’s spacious inside, in good order and with scope for expanding the living space..

Basic details

Ref.ATH2 | 4 bedrooms | 2 bathrooms | Plot size 670 m2 | Price € 1,060,000

The ground floor features a large entrance hall leading through large double doors to semi open plan living and dining rooms. Also on this level is a second, large living room, a kitchen / family dining room and a bedroom with a dressing room and bathroom. The kitchen has direct access a covered outdoor dining terrace overlooking the pool area and garden.

On the next level there are three bedrooms and a family bathroom. There is also a second living room / TV room / study. The second floor provides scope for expanding the accommodation, with a space that could be converted into three of four en-suite bedrooms or a different layout according to the new owners requirements.

The interior is bright unusually light for a townhouse. The style is classic for this type of property and is in good order throughout.

Outside

Outside we have the covered dining terrace – essential for Mallorca outdoor living. Then there is the pool terrace area with a pool house and, beyond this, the garden. The garden is typically Mediterranean, well stocked and similarly well maintained.

Location

Alaro is a very pretty village set in the foothills of the Tramuntana Mountains, on the western side of Mallorca. Alaro is very easily accessible from Palma and the airport. it’s not far off the motorway to the north and is also on the train line. Despite having such good connections, the village feels very much “away from it all”, surrounded by some of the most stunning mountain scenery in Mallorca.

A strong ex pat community combines with a sense of local tradition, with village life revolving around the main square, which hosts an excellent local market on Saturday mornings. there are some fabulous walks in the area, including the walk up to Alaro castle (Castell Alaro) – a truly rewarding hike with some spectacular views. 

Traditional townhouse in Alaro with pool

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A three bedroom villa near Pollensa, Mallorca for an asking price of €460,000. In very good order, the property has a lovely, sunny garden, great pool, plenty of space and an ETV rental licence. So it would work equally well as a family home, holiday home or a rental investment.

Why we like it

The price shows you don’t have to be a millionaire to buy a property in Mallorca. It’s in very good order throughout and has plenty of space for a family. The garden and pool in particular are outstanding features. Overall – a great investment opportunity, ready to move into but with scope to update the interior and add further value.

Basic details

Ref. CR13| 3 bedrooms | 2 bathrooms | Built size 177 m2 | Plot size 947 m2 | Price €460,000

Three bedroom Mallorcan villa located in a quiet residential area close to Pollensa Town.

The property has three bedrooms and two bathrooms. It’s main living area is nice and light, with a fully fitted kitchen that is semi-open to the dining / living room. The living area has a fireplace. There is also direct access to the covered terrace and outdoor dining area. The three bedrooms are spacious and complemented by two bathrooms.

The interior is in good order, making the property ready to move into. Although updating is not necessary, doing so would add value, making this a good opportunity for a keen investor.

Outside

The covered dining terrace, garden and pool area are ideal for Mallorcan outdoor living. The garden is well stocked and very nicely maintained. 

Location

Located in the urbanisation of Crestatx, the villa is within easy reach of Pollensa Town and Puerto Pollensa. Pollensa is one of the most sought-after locations in Mallorca. For good reason too – it’s set in the midst of beautiful countryside and the coast and beaches in this region are equally stunning. Pollensa Town has plenty of good bars and restaurants and offers regular and varied cultural events and entertainments. Sports are comprehensively catered for with notable golf courses, tennis and many other sports facilities. That’s in addition to watersports and boating of course!

There is now an international school very close by, making this a good location for families with children.

Other features

The ETV rental licence is an important feature. This means the villa can be rented out legally for short-term holiday lets. So as well as making a good family home, the property would also be a good holiday home and/or rental investment.

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