MPP Mallorca Property Newsletter 8th Aug 2010

Here is our early August update which I hope is of interest to you.

Repossessions have been receiving a lot of publicity of late. I was asked recently why we do not feature them as surely they are the best deals!

However, this is often not the case. The bulk of repossessions are neither in strong locations, nor are they they type of property for which there is a strong international demand. Whether such properties are good investments at this time is highly questionable.

Furthermore, not all the repossessions are at genuinely "good deal" prices. Where properties had originally been bought at 90, 100 or 110% loan-to-value, the banks have to "write down" (lose) a considerable percentage of the outstanding loan in order to bring the property in line with current prices. They are understandably reluctant to do this.

When a good quality repossession is on offer, in a good area at a good price, it is likely to sell very quickly. MPP works with agents appointed by the banks to sell repossessed properties, so when searching for a property on your behalf we take them into account alongside other available properties. Quite often non-repossession properties win out as the best opportunity.

This weeks selection includes several outstanding opportunities ranging from 199,500 Euros for an apartment in Palma's Santa Catalina, to 3.9 million for a country estate in Escorca in the Traumantana mountains.

Apartment in Santa Catalina, Palma, recently renovated to high standard

A great little two bed apartment in Santa Catalina, one of the best locations in Palma. Renovated to a high standard and nicely furnished. Reduced from 289,000 to 199,500 Euros to sell. Comparable properties are currently around 250,000+. see details

Penthouse apartment close to the Pinewalk, Puerto Pollensa

This 3 bed penthouse apartment is excellent value having been reduced from Euro 600,000 to 480,000. see details

3-bed traditional townhouse in Andratx Village

A traditional townhouse with plenty of space for a family or guests. Located in Andratx Village a few minutes drive from Puerto Andratx. 395,000 Euros. see details

Spacious 3-bed apartment with views over Port Adriano

A front line sea view apartment directly overlooking Port Adriano marina, one of the prime investment locations in Mallorca. 455,000 Euros. see details

3-bed villa for sale, Costa de La Calma

A 3-bed detached villa with pool, located in Costa de la Calma close to Santa Ponsa on the southwest coast. An outstanding property at this price level. 515,000 Euros. see details

Luxury 4-bed new-build villas, close to Pollensa Old Town

Two newly built villas, both 4-bed luxury properties with infinity pools, elevated positions and great views. Priced to sell at 950,000 and 1,050,000 Euros respectively. Ideal easy-maintenance luxury holiday homes and/or rental investments. see details

4 bedroom country house with mountain views, close to Pollensa Old Town

A traditional country house with mountain views and in walking distance of the old town of Pollensa in the north of Mallorca. Asking price 1,380,000 Euros. see details

13th century country estate in the mountains of Escorca, North Mallorca

One of the prime country estates in North Mallorca. A unique and historic property nestling in the Traumantana mountains and with the potential to be one of the most noteworthy homes on the island. Price 3,900,000 Euros. see details


Please get in touch if you want more information on these properties or have any questions regarding buying in Mallorca. I look forward to hearing, have a good weekend.

Kind regards

Mallorca Property Partners


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