Mallorca is a favourite holiday destination, and not just for Britons. Its super-smart hotels and restaurants, marinas and good golf courses bring nine million visitors a year through Palma airport.
Picturesque north-west coast: Mallorca’s Cala Deia has a small shingle beach, clear waters and rock pools
Keeping up to speed
The island keeps reinventing itself. Top-drawer hotel openings so far this year include Can Alomar in Palma and OD Port Portals, while designer fashion label Mulberry has bagged a prime retail spot close to the newly enlarged Rialto Living Swedish design emporium. Then there’s booked-out Tast restaurant in San Jaime in Palma’s Old Town, hidden behind a wide courtyard but so exclusive there’s no name over the door.
In property, too, there is plenty that’s new. “Knocking down older buildings to start again is becoming very common,” says Hans Lenz of estate agent Engel & Volkers. “It is happening in previously tatty areas like Cala Major where modern apartments are springing up, and also in prime areas like Port Andratx in the south-west where older homes from the Sixties and Seventies are being redeveloped.”
Palma, a lively city on the sea, has 10 marinas including new super-yacht base Moll Vell, plus modern shops and restaurants, a medieval Old Town based around the magnificent cathedral, and a good range of property. From Santa Catalina with its bars filled with off-duty boat crews to newly chic beachfront Portixol, Palma is a city in demand. “Property prices range from £277,700 for one or two bedrooms up to £2.38 million for penthouse apartments,” says Terence Panton of Engel & Volkers. “Most popular are the cathedral area, Portixol and Santa Catalina. You get more for your money in St Agustin, La Llonga and Ciudad Jardín.”
An English couple who work on super yachts are selling a desirable two-bedroom 2,292sq ft apartment in an early 16th-century building in Born, Palma, for £630,500. A two-bedroom flat at the end of the Jewish Quarter in the heart of the Old Town, with sandstone walls and a beamed ceiling, is £258,000, both through Engel & Volkers.
£309,000: a smart one-bedroom flat in Palma’s Old Town (Engel & Volkers)
Lucas Fox has a two-bedroom 1,400sq ft flat overlooking the cathedral with a shared terrace for £436,750, and nearby, a five-bedroom flat four times larger for £1.15 million. “Newly refurbished flats in the Old Town sell well,” says Panton. “A rebuilt block in the Temple area, Old Town, offering style and good-quality build with a classical façade, underground parking and a lift, with prices from £297,500 has been popular with buyers across Europe.”
A south-facing natural port 25 minutes from Palma airport, exclusive Andratx is a year-round resort where property ranges from two-bedroom flats for £396,800 up to the most expensive home on the market in Mallorca, an estate at La Mola for £30 million, through Engel & Volkers. They are also selling a finca-style whitewashed villa of 5,000sq ft with striking modern interiors and a bougainvillea-smothered garden, down from £3,889,000 to £2,976,000.
They also have Grand Folies, a collection of 129 one- to three-bedroom flats built in 2005 where resales start from £395,280. Well-kept communal facilities at this sociable resort include a beach club, indoor and outdoor pools, a gym and a central bar. Annual service charges are from £4,570.
READ MORE: VIEW LUXURY MALLORCAN PROPERTIES FOR SALE
Engel & Volkers: www.engelvoelkers.com/mallorca
Lucas Fox: www.lucasfox.com