In the Balearic Islands, the fall in property prices was less significant than in mainland Spain. Real estate in Mallorca, the largest island in the Balearic archipelago, is relatively expensive, but after the crisis prices here have become a little more affordable. The property market in Mallorca is one of the most stable in Southern Europe. Property prices on this island are higher than in the resorts on the Spanish mainland. Now that the Spanish housing market is experiencing a constant decline in prices, in Mallorca you can find favorable offers for both luxury housing and economy class objects, some of which are sold at discounts. More information and prices can be found at https://yes-mallorca-property.com/.
About the region
The Balearic Islands are located east of Valencia in the western Mediterranean Sea. Mallorca is the largest island in the Balearic archipelago, with an area of approximately 3640 square kilometers. The island has about 70 beaches and a coastline of over 550 km long. It is home to about 800,000 people, about 20% of the population are foreigners. This is higher than the average in Spain.
Winters here are mild and short, snow falls, but mostly in mountainous areas, and in summer it is hot. The average air temperature in summer is +27C, and in winter it is +15C. For many years Mallorca has been considered one of the most expensive resort destinations in Spain. Here real estate is owned and world celebrities have a rest. For example, actor Michael Douglas has a house here on the northwest coast of the island near the town of Valldemossa. Not far from the port of Palma de Mallorca is the Marivent Palace, the summer residence of the King and Queen of Spain.
Celebrity yachts are also often mooring in Mallorca ports. In 2012, Port Adriano was opened in the southern part of the island, which in addition to regular yachts can accommodate large yachts. Mallorca is visited by professionals and golf enthusiasts – currently there are 22 golf courses that are open all year round. All kinds of sports are also available on the island, such as tennis, sailing, surfing and cycling. Mallorca is considered one of the safest places in the Mediterranean.
Geography of the offer
The vibrant city of Palma de Mallorca, which is also the capital of the island, is located in the southwestern part of the island and only 10 minutes from the airport. One-bedroom apartments here can now be bought for around 100,000 – 130,000 euros and two-bedroom apartments for around 200,000 euros. Properties with sea views are more expensive – from 380 000 euros. Prices change frequently here. The south-western part of the island’s coastline is all built up, so if there are new properties here, they are very expensive. Here is the most developed resort infrastructure on the island. Apartments in prestigious complexes near marinas and golf courses, such as Puerto Portals, Santa Ponsa or Bendinat cost from 500 000-600 000 euros.
Northwest Mallorca is famous for the picturesque Tramuntana mountain range and is home to cities such as Valldemossa, Soller and Deija. From Palma de Mallorca, the port of Soller can be reached in about 30 minutes through a mountain tunnel. Property in this part of the island is always expensive, but at the moment you can find very good deals. For example, a two-storey house with personal park value from 300 000 euros. The east coast and central part of the island is rarely chosen by property buyers, although from Palma de Mallorca it is possible to get here in about an hour by good road. Some of Mallorca’s best vineyards are located here.