By Julie Pellestor
How is it that the hot always seem to get hotter? As the largest island in the Balearic archipelago off the coast of Spain and a popular travel destination year-round, Mallorca has long been a hot spot, especially for visitors from northern Europe. Even more, according to Engel & Völkers’ most recent report on the island, international buyers are increasingly investing in premium properties across Mallorca as they’re consistently attracted to the land’s mild climate, accessible flight connections and cosmopolitan atmosphere.
Some of the top addresses for real estate investment in Mallorca are found in the southwest region of the island, and strong demand is mainly centered at the prime locations of Puerto Andratx, Santa Ponsa, Bendinat and Portals. Here, premium homes situated directly on the coastline and exclusive new developments are particularly sought after among predominantly German, British and Scandinavian buyers.
The city of Palma, Mallorca’s capital, captures the main interest of international clientele as they’re especially drawn to townhouses and apartments in the city’s Old Town, as well as the districts of Sa Gerreria and Portixol.
And at the island’s center, traditional finca-style estates in the villages of Santa María del Camí and Alaró prove to be very popular, in addition to properties in the south of the island around Llucmajor.
“Last year once again marks a record year for Engel & Völkers on Mallorca. The positive development shows that residences in prime locations on the Balearic Island are still considered an extremely attractive investment for international buyers,” said Florian Hofer, Master License Partner of Engel & Völkers on the Balearics.
There’s good reason for no slowdown in Mallorca’s residential housing market. The island’s beautiful landscapes, safe international investment opportunities, enviable lifestyle and plenty of Mediterranean sun continue to draw in an international clientele.
Click here to view Engel & Völkers’ full Mallorca 2016/17 Market Report.