A recent report by Property Wire reveals the Mallorca property market is growing in popularity as sales have doubled since 2014. As inline with other popular overseas destinations for real estate, coastal areas are showing the most significant interest, but the Palma bay area is leading the way with high demand.
The increase in demand and a limited supply of coastline properties is also driving up home values, as Germans, French, Spanish and Netherland citizens show interest in villas and semi-detached houses in the area.
It’s easy to understand why Palma Bay is luring overseas buyers. With everything and anything to attract all demographics of buyers, the Llucmajor region attracts golfers with three-word class courses. Other sports enthusiasts have flocked thanks to marked hiking trails and marinas.
The international airport with its year-round flight schedule sits just 8 kilometres away, but perhaps one of the biggest reasons for its success is the diversity. The 25 kilometre stretch of coastline includes many smaller towns and villages, each with something unique to offer.
A good example is upmarket Portal Nous catering to wealthy and influential yacht owners that sits just 9 kilometres from the British favourite Magaluf, known for its popular British pubs and entertainment.
Meanwhile, at the eastern end, you can’t get any quieter than Cala Blava. Then there is Playa De Palma, a sandy beach resort during daylight hours that turns into a party mecca after dark.
What does the Mallorca Property Market Offer?
While Palma Bay seems to be the driving hotspot, it’s important not to assume that’s it because the island offers much more. Having been a tourist destination since the 1950s, it has garnered a cosmopolitan, multicultural feel. The success of the tourism industry shows through the economy, which benefits from its driving force.
Welcoming 15 million visitors every year, the other mistake first-time visitors make is to assume, it is a mass of concrete jungles. Around 40% of the island is under protected status. Hence, green spaces are abundant.
Covering 3,640 square kilometres, the Mediterranean climate often sees temperatures in summer reach the mid-30s, but the bonus is winter where temperatures rarely drop below 5 degrees making this the perfect all-year-round destination.
For a long time, the two main nationalities driving the overseas property market were Brits and Germans, but that is changing as more nationalities flock to discover what all the hype is about. High-end agent Sotheby’s is also reporting an interest in luxury buyers who want perfect, modern architecture to accommodate their mega-yachts docked into marinas.
Where money is, the dining scene features heavily in a community portfolio, and Mallorca is no exception, with eight Michelin star restaurants serving up the finest in gourmet cuisine.
Despite its growing popularity with luxury property buyers, Mallorca still does an excellent job of catering to the middle class, and this is something to remember when buying. Knowing the lifestyle you want from your overseas home will help you choose the right destination, the first time.
Popular Places to Buy In Mallorca
Cala Lliteras: This small cove belonging to Capdepera municipality of northern-eastern Mallorca offers stunning coastline views, sandy beaches, and clear waters making it a hotspot for windsurfing, and kayaking enthusiasts.
Cala d’Or: This modern tourist resort, home to a national park is another nautical hotspot but also loved by golfers who enjoy the nearby 18 hole course. The pedestrian town centre offers boutique shops and restaurants serving up fine Mediterranean cuisine.
Canyamel: Known as a cultural and sporting hotspot and sitting on the northeast coast, Canyamel also boasts of stunning scenic landscapes. Beach lovers should look in this area at the numerous stretches of white sand, also enjoyed by the yachting community.
Sa Rapita: Sitting on the southern coast, Sa Rapita offers a typical Mediterranean lifestyle combined with a marina, quiet coves, and white sandy beaches. Just 38 kilometres from Palma airport, this is another destination for golf fans, those who want to take up kite or windsurfing, and cycling fans thanks to marked routes.
Cala Vinyes: Home to exclusive marinas like Puerto Portals and Port Adriana, and just 20 minutes’ drive from Son Sant Joan airport, Cala Vinyes offers a more refined lifestyle with four golf courses, exclusive designer shops and elegant restaurants to enjoy after dark.
Also of Interest
Majorca Towns in the Spotlight: A look at ideal towns for those who want to invest in the Mallorca property market and live there all year round. We judge amenities, how easy it is to get there, and the lifestyle vibes to expect.
Property for sale in Majorca: From beachside apartments to luxury villas, our portfolio contains a wide range of homes for sale. Each listing includes photographs, area information, key reasons to buy and details of how to arrange a time and date for viewing or request more information.