Balearic Government declares short term rentals to be legal

Earlier in September, the Balearic Government put in place a new planning law with the objective of simplifying and rationalising the existing regulations.

The new measure, entitled Ley de Ordenación y Uso del Suelo (LOUS), focuses in part focused on the approximately 30,000 properties which currently, in one way or another, fall outside of the current planning regulations.

The new measures are an opportunity for home owners to legalise their property. For further information please see: New land law to simplify legalisation of unregistered buildings on rural land.

Luxury villa with stunning views, outskirts of Pollensa, N Mallorca

Opportunity to purchase a modern, luxury, traditionally styled villa just off the Calvario Steps in Pollensa, North Mallorca. The property has a super, spacious and light interior with a lovely garden and terraces, a separate guest apartment and stunning views over the old town rooftops and the mountainous Pollensa countryside.

For full details please see: Luxury villa with stunning views, outskirts of Pollensa, N Mallorca

Price reduction: villa within walking distance of Canyamel beach

Opportunity to buy a nicely presented, spacious family holiday villa or rental investment, currently for sale at a very attractive price, a short stroll from the beautiful bay and beach of Costa de Canyamel.

Villas in walking distance of one of Mallorca's clear blue coves are obviously among the more sought-after and attractive properties. Costa de Canyamel on Mallorca's northeast coast offers very good value comparative to better known areas such as the Southwest.

Recently however this part of the island has been receiving an increasing amount of interest from keen-eyed investors picking off the best property opportunities.

For full details on this property, please see: Price reduction: villa within walking distance of Canyamel beach

Ideal holiday villa, 3 minutes walk from the beach, Paguera, SW Coast

A great coastal location, easy to get to and easy to look after. An ideal holiday villa.

Ideal holiday villa, 3 minutes walk from the beach, Paguera, SW Coast

Exceptional opportunity to buy a high quality villa in Nova Santa Ponsa

An truly exceptional opportunity to buy a high quality 6 bedroom villa in a prime location in Nova Santa Ponsa for less than 1m Euros. At this price level it will generate a lot of interest and is likely to sell quickly.

For full details, please see: Exceptional opportunity to buy a high quality villa in Nova Santa Ponsa

Penthouse apartment adjacent to Santa Ponsa Golf, SW Mallorca

Ref: IP2-289
Location: Nova Santa Ponsa, SW Mallorca
Type of property: Penthouse apartment
Bedrooms: 3
Bathrooms: 3
Plot Size (m2): na
Living space (m2): 200
Price (Eur): 725,000

About Nova Santa Ponsa

A high quality penthouse apartment – one for keen golfers!

Overview: A penthouse apartment proeprty overlooking Santa Ponsa Golf in SW Mallorca. This is a spacious property built to a high standard in an exclusive community. A feature of the apartment is its large terrace which has both covered and open areas, making it a great option for enjoying the wonderful sunshine in Mallorca

The property is nicely presented and ready to move into.

Accommodation: Large living room with real fireplace, opening onto the dining terrace; dining room which also opens to the terrace; 3 bedrooms, including a large master bedroom with dressing area. The master bedroom also opens to the terrace; modern fitted kitchen.

Outside space: Large terrace with both covered and uncovered areas; community gardens with infinity pool.

Other features: Garage; under-floor heating; air conditioning.

      

  

High quality penthouse apartment next to Santa Ponsa Golf

The market for prime Mallorca properties is strengthening

There are continuing indications that prices for prime location properties in Mallorca have reached a bottom.

This is a brief market update to follow on from my last update in July (see Mallorca property market update July 2013).

The key observation then was that we have seen increasing demand for the most desirable types of properties in the best locations. This demand is coming from a wider range of other countries than used to be the case.

The following four months have indeed backed this up and this is an important point for anyone thinking of buying here. For the last five years or so, the market has been strongly in favour of the buyer. Now we are seeing the beginnings of some competition for the best property opportunities.

This is not intensive as in prime locations in London. Indeed, we are only at the very beginning of this change in the trend. But it does appear to be an increasingly solid change. Mallorca is a relatively small property market, particularly if focusing on properties that are desirable within the international sector of the market. A small increase in demand will have a notable effect and we could well see the price of the best properties rising in the not too distant future.

It’s worth noting also that when I refer to prime locations and the most desirable properties, this does not only mean properties in the upper price brackets. For example, prime location townhouses like this one in Fornalutx (Traditional townhouse with roof terrace, mountain views, Fornalutx), can still be bought for under 400,000 Euros.

Similarly, sea view apartments in southwest coast locations such as Cala Major and San Agustin, which not so long ago would have seen little interest, are increasingly sought after and hard to come by. See some of our selected sea view properties here.

I am not trying to lead prospective buyers to rush over here and buy now. The key to buying well is to understand the market here and buy a good quality property in that context. This is far more important than big percentage discounts and price reductions if you have a view to the property being a good long term investment.

I have to say though, the coming months could be a very good time to buy!

The market for prime Mallorca properties is strengthening