| Demand for property from throughout Europe | | | | without the tourism that coastal locations tend to |
| continued throughout 2007, and most property | | | | attract. Fincas and village houses in these areas carry |
| professionals on the island reported steady interest | | | | a certain premium as the locations are in high demand |
| and sales, with increased activity at the upper end of | | | | from both the foreign and domestic markets. |
| the market especially. Prices continue to rise, although | | | | NORTH WEST COAST AND THE NORTH |
| at a reduced pace, as sellers are being more realistic | | | | Buyers in search of a more rural and traditional side |
| in their asking prices. | | | | of Mallorca with the most dramatic landscape often |
| Improving marina facilities throughout the island, | | | | gravitate to the North West and north of the island. |
| continual restoration projects in the countryside to | | | | Dominated by the Tramuntana mountain range |
| maintain historic buildings and walls make Mallorca one | | | | stretching from Andratx in the south to Pollensa in |
| of the Mediterranean's most sought after places to | | | | the north, the villages of Deia, Valldemossa, Soller, |
| own property. Mallorca's foreign community - one of | | | | Puerto Soller and Fornalutx will come high on the list |
| the largest in Spain - continues to thrive. Tourism is | | | | of interesting locations to consider. |
| the mainstay of the island along with property and is | | | | The protected area of the Tramuntana Mountains |
| continuing to become more diverse and upmarket, | | | | ensures that new properties are rare and demand |
| attracting visitors from all over the world. There are | | | | for existing fincas and village houses are constantly |
| now many more five star hotels and with 24 UK and | | | | high at Shortcuts Property Search. The most notable |
| 21 German airports providing flights to Palma, the | | | | change in the North West is evident in Puerto Soller, |
| island's convenient location and popularity looks | | | | which has undergone a face lift as a new tunnel has |
| unlikely to diminish in the foreseeable future. | | | | re-routed traffic away from the harbour, so now the |
| PALMA | | | | promenade is open only to pedestrians and a few |
| The island's political and cultural capital is where 40% | | | | local cars. New hotels and restaurants have begun to |
| of Mallorca's population lives and enjoys an average | | | | spearhead the port's renaissance and two and three |
| daily temperature of 21.4 degrees and 7 hours of | | | | bedroomed village and edge of village properties are |
| sunshine per day throughout the year. It is the | | | | commanding prices of EUR550,000 plus. Traditional |
| largest medieval old town in Europe with numerous | | | | stone faced fincas can be found for EUR700,000 |
| famous buildings, fashionable shops, narrow streets, | | | | whilst renovated fincas with sea views are on the |
| tapas bars and enough restaurants to satisfy | | | | market for anything upwards of EUR1.4m. |
| everyone's palate. It is dominated by the Gaudi | | | | Continuing up along the west coast are |
| influenced Cathedral and an eclectic mix of art | | | | Pollença, Puerto PollenÂa, Formentor and |
| galleries from the contemporary Es Baluard to the | | | | Alcudia. The property market in this area is dynamic |
| historic Palau March. | | | | and has long been popular with the British market. |
| Open plazas and avenidas give way to waterfront | | | | Village houses, modern apartments and fincas are all |
| marinas lined with super yachts. There are two yacht | | | | in high demand and the extension of the motorway |
| clubs, including the largest and most prestigious on | | | | from Palma, which now by-passes Inca, has |
| the island, which hosts the Copa d'el Rei each year. | | | | significantly shortened drive times from the airport |
| The Spanish Royal family holiday each August on the | | | | and Palma. |
| island at their summer palace on the outskirts of the | | | | The town of PollenÂa with its famous Monte |
| city and regularly compete in several regattas. | | | | Calvario steps is a much-desired location now the |
| A new look to Palma's sea front has begun, with a | | | | refurbished village square is cut off from traffic. The |
| new convention centre taking centre stage of a | | | | town boasts a number of musical and art festivals |
| EUR40+ million regeneration project at the eastern | | | | during the year and its growing number of |
| end of the Paseo Maritimo, close to the fashionable | | | | restaurants and galleries give it an artistic |
| marina of Portixol and opposite Palma's main beach. It | | | | atmosphere. It is a lovely place to relax and watch |
| will become a major business destination, offering an | | | | life pass by. |
| auditorium, conference halls as well as a new five | | | | In the Pollensa area there are a number of fincas |
| star hotel, cafes, gym, restaurants and bars. | | | | with land of twenty hectares or more. The valleys of |
| Shortcuts Property Search report property demand | | | | Vall d'en March, Vall de Colonia and Vall de Can |
| in Palma is primarily for older refurbished buildings, | | | | Aixartell are sought after for their idyllic locations and |
| particularly around the Cathedral area of Calatrava | | | | mountain views - yet within a few minutes of |
| and the areas of La Llonja and Santa Catalina. Many | | | | beaches and the town. A new luxury villa |
| of the city's old palaces and villas are currently being | | | | development overlooks the Pollensa golf course. |
| totally renovated with the addition of lifts and | | | | Another area of interest is the villa urbanisation of La |
| modern facilities. The faded areas of Portixol and | | | | Font, close to PollenÂa. It sits on a hill and the |
| Terreno are also being rediscovered and gentrified - | | | | beaches of Cala San Vicente and Puerto Pollensa are |
| Portixiol is now a very fashionable and chic area. | | | | just minutes away. Apartments tend to be |
| Foreign buyers in particular are looking for property | | | | concentrated on Puerto Pollensa and vary |
| which offers good outside living in the form of lofts, | | | | considerably. New apartments are from around |
| penthouses and courtyards and these inevitably | | | | EUR450,000 with communal gardens and pool. |
| command premium prices. | | | | The second phase of the Puerto Pollensa ring road is |
| Santa Catalina | | | | scheduled to open in the summer of 2008. This new |
| This old fisherman's neighbourhood has become a | | | | road will divert traffic heading for Alcudia away from |
| lively restaurant area with its popular market at its | | | | the sea front to the east of the marina. This will |
| centre. It is a district that borders the contemporary | | | | reduce the congestion in the main town centre and |
| art museum of Es Baluard and the waterfront of the | | | | along the promenade. |
| Paseo Maritimo. Prices range from EUR2,000 to | | | | Alcudia has a number of popular urbanisations, |
| EUR3,500 per m2. | | | | including the recently modernised Bon Aire, Mal Pas |
| Calatrava | | | | and Baccares overlooking Pollensa Bay. The small |
| The historical heart of Palma surrounds the Cathedral | | | | yacht haven of Puerto Cocodrillo is interesting near |
| and includes the notable churches of Santa Eulalia and | | | | the golf course with views over the sea in Aucanada. |
| San Francisco. Calatrava consists of quiet narrow | | | | Finally, the exclusive Formentor area retains its |
| streets of historical buildings with restricted access | | | | exclusivity with very few properties ever on the |
| and parking. Prices range from EUR4,000 to | | | | open market. The natural landscape with white sandy |
| EUR9,000 per m2. | | | | beaches gives this spectacular peninsular a great deal |
| La Llonja | | | | of charm. |
| This quarter borders the Born on its eastern side and | | | | OTHER COASTAL AREAS |
| the Paseo Maritimo and up to Es Baluard, the | | | | Shortcuts Property Search predicts the North East |
| contemporary art museum. It is also a lively area with | | | | and eastern coastline will see the most change in the |
| restaurants and bars particularly around Plaça | | | | foreseeable future as improved infrastructure has |
| La Llonja itself. A number of small and exclusive | | | | meant they are more accessible and new |
| boutique hotels have opened in this area attracting a | | | | development in the South West slows. There are |
| fashionable following. Prices range from EUR3,500m2. | | | | several good new developments offering quality |
| Portixol/ Es Molinar | | | | affordable homes close to the sea and within easy |
| Portixol has a small marina, beach and a wide sea | | | | walking distance to restaurants and shops. |
| front promenade and has become an expensive and | | | | The improved Palma to Manacor road will make the |
| chic area. Slightly further along the coast Es Molinar | | | | villages of Arta and Capdepera and the residential |
| and Cuidad Jardin offer a less expensive alternative. | | | | areas of Costa de Canyamel and Costa de los Pinos, |
| The planned redevelopment of the sea front at the | | | | located between beautiful mountains and beaches in |
| eastern end of the Paseo Maritimo where the access | | | | the north east, easier to get to and therefore more |
| road to Portixol and Es Molinar is located will ensure | | | | popular. |
| the area will maintain prices of EUR3,000 m2 and | | | | Prices are more reasonable and if you appreciate |
| upwards. | | | | open spaces, stunning scenery and sandy beaches |
| Son Vida | | | | and are happy to be an hour from the airport, then |
| Palma's most exclusive residential area has two | | | | this area is a good place to explore. |
| superb golf courses and two five star hotels. It has | | | | Those wishing to experience Mallorca away from |
| spectacular views of Palma and the bay and offers | | | | mass tourism will quickly feel at home in this part of |
| its residents privacy and security, which gives Son | | | | the island. The main towns of Manacor, Felanitx, |
| Vida an imposing air. Easy access to Palma and the | | | | Santanyi and Campos all offer shopping, culture and |
| airport make it a perfect location for many buyers. | | | | many good restaurants. The Vall D'or golf course and |
| There is strong demand for both existing and new | | | | marinas of Cala D'or, Porto Petro, Porto Colom and |
| build property here with property starting at | | | | Porto Cristo also have a variety of leisure activities. |
| EUR1.5million. | | | | The surrounding areas of Vall D'or, Cas Concos, |
| SOUTH WEST MALLORCA | | | | Calonge, S'Horta, Es Caritxo and S'Alqueria Blanca |
| As you leave Palma heading west towards Andratx, | | | | offer many quality-reformed fincas. The best |
| you pass the village of Genova with its numerous | | | | locations offer proximity to golf, sea views and |
| restaurants and approach the areas of Bendinat, | | | | natural peace and quiet and attract high spending |
| Costa D'en Blanes and Portals Nous with its lively | | | | clients seeking privacy and seclusion. Property prices |
| marina of Puerto Portals and some of Mallorca's most | | | | range from EUR250,000 to over EUR4 million. Land is |
| exclusive eating and shopping. | | | | increasingly difficult to find and areas north east of |
| Real estate here is of a high standard with several | | | | these villages are taking over. |
| urbanisations developed around the Bendinat golf | | | | INLAND AREAS |
| course and Shortcuts Property Search report | | | | Villages within a twenty minute drive of Palma form a |
| constant interest in this area. The tunnel link of | | | | sort of rustic belt that surrounds the cities outskirts. |
| Bendinat to the main Palma/Andratx motorway has | | | | Buyers here want a more rural country feel but easy |
| made Palma only 10 minutes away and further | | | | access to Palma, golf and of course the sea. |
| served to emphasise this area as a prime location for | | | | Establishments, Puigpunyent, Santa Maria, Alaro, |
| both permanent and holiday residence. | | | | Bunyola and Binissalem are poular village locations, as |
| Apartment prices can go beyond EUR4,500 per m2, | | | | are Sencelles and Santa Eugenia. Llucmajor to the |
| but these are well constructed and managed, and | | | | east of Palma is now by-passed by the improved |
| have top quality finishes. Old Bendinat has a number | | | | PM602 and is beginning to see property prices rise. |
| of exclusive frontline residences with direct sea | | | | Heading north, the extended Inca motorway is |
| access which change hands for well over | | | | putting the villages of Campanet, Buger, Sa Pobla and |
| EUR6,000,000. | | | | Muro more firmly on the property buyers' map as |
| The marina of Puerto Portals with its renowned | | | | journey times are reduced. |
| restaurants, bars and exclusive shops attracts an | | | | Shortcuts Property Search notes that prices for older |
| international group of people all year round. The | | | | properties in need of renovation in these areas - |
| proximity of several golf courses, excellent sailing and | | | | which had been neglected for years - are being |
| a wealth of sports activities make this a very sought | | | | driven up as availability reduces. |
| after location. There are many apartments that | | | | LOOKING FORWARD INTO 2008 |
| overlook the marina that vary considerably in price, | | | | Mallorca is one of the most popular hubs for super |
| and can represent good investment with | | | | yachts in the Mediterranean. The island is planning to |
| refurbishment potential. Overlooking Portals Nous and | | | | expand eight of its thirty two harbours and marinas |
| Puerto Portals is the urbanisation of Costa d'en Blanes | | | | and this is spearheaded by the EUR40million++ |
| where sea view villas command upwards of EUR1.3m | | | | expansion of Port Adriano near Santa Ponsa and Sol |
| million. | | | | de Mallorca and the planned redevelopment of |
| Moving further west along the coast, Santa Ponsa is | | | | Palma's seafront at its eastern end. Moorings around |
| set in beautiful coastal countryside and surrounded by | | | | the island will increase by 25% and in 2009 Palma will |
| three golf courses. The large urbanisation of Nova | | | | begin work to equip the port to accept 'mega' cruise |
| Santa Ponsa has been carefully planned to avoid high | | | | ships, further increasing its popularity as an important |
| density building with surrounding green areas and | | | | cruise ship destination point. |
| protected green zones. Port Adriano just along the | | | | The old and ugly power station in Alcudia is to be |
| coast is an interesting area to watch - work has | | | | converted into an arts and science museum - a |
| started on the improvement of the marina to create | | | | major boost for the area. Also the bay of Can Pastilla |
| berths for super yachts. The expansion design is | | | | will be undergoing a massive regeneration and |
| being led by Phillipe Starck. This will undoubtedly mean | | | | upgrading, property here will definitely benefit as a |
| more restaurants, facilities and of course, higher | | | | result. |
| property prices. | | | | A new five star hotel is being developed near |
| Beyond Santa Ponsa is Camp de Mar, with a golf | | | | Llucmajor by the Hilton group, another boost to an |
| course and five star hotel, along with a number of | | | | area growing in popularity with the British. |
| quality developments. This is an area which | | | | Sea view and frontline properties will remain excellent |
| complements Andratx and Puerto Andratx, just | | | | investments in Shortcuts Property Search opinion as |
| around the bay. In fact, Puerto Andratx must rank as | | | | the authorities tighten up already stringent building |
| one of the most popular locations in the South West | | | | regulations. Plots for construction particularly in the |
| and consequently is one of the highest priced regions. | | | | South West are in even shorter supply and there are |
| The slopes of the hills surrounding Puerto Andratx | | | | fewer developments in construction than in previous |
| are home to many exclusive villas, mansions and | | | | years - reducing the choice of off-plan purchase. |
| apartments, many with spectacular views to the sea, | | | | Unlike other parts of Spain, where speculative building |
| marina and mountains. | | | | has led to over supply, the market here is more |
| A popular yachting port, Puerto Andratx is a working | | | | robust and in certain sectors there continues to be a |
| harbour with a flourishing fishing fleet, which adds | | | | shortage of good quality property available. |
| great charm and character. There are a number of | | | | Whilst the market will perhaps not enjoy the high |
| locations around Andratx, including La Mola, Montport, | | | | level growth and demand of the last few years, it is |
| Cala Marmacen and Cala Llamp. There are also | | | | expected that it will remain steady with prices |
| exclusive apartment developments with cliff top sea | | | | predicted to increase 7-10% in quality locations. As |
| views where prices currently range from EUR4,500 | | | | the slow down in construction deepens on the |
| to EUR6,000 m2 depending on location and outlook. | | | | mainland, the building moratorium on the island is also |
| Sea view villas start at around the EUR1.8m mark. | | | | predicted to slow construction down here over the |
| Building land is rapidly becoming hard to find and as | | | | next 12 months. |
| building slows down in the future, supply will be | | | | Finally, this year the areas Shortcuts Property Search |
| further reduced. | | | | recommend to watch and invest in are Palma old |
| Moving inland the villages of Es Capdella and Calvia | | | | town, the east around Porto Colom and the north |
| enjoy the proximity of the coast and Palma, but | | | | east in general. |