Southern Mallorca is attracting overseas property investors in recent years, according to research by property agent Engel & Völkers.
Property sales in Mallorca have doubled over the past five years with demand currently focused on coastline properties overlooking Palma Bay.
Southern Mallorca has particularly been in demand over the past couple of years, due to its proximity to the International Airport, fast connections to Palma and good sports facilities.
The capital of the southern Mallorca region is Llucmajor. It is the largest municipality in Mallorca, located 15 kilometres from the airport with a total of 16 towns and villages plus 45 kilometres of coastline with the areas of Son Veri, Cala Blava and S’Estanyol proving popular.
Christina Deutsch, managing partner of Engel & Völkers Central and South, said: ‘Over the past five years, sales transactions have doubled and last year we saw an increase in sales of 6.5 per cent over 2017. We also witnessed a marked increase in the average price of property which is mainly due to the limited supply of property along the coast and increased demand.’
The main attraction of southern Mallorca to overseas property investors is that they can get more property for their money with prices for apartments starting from €280,000 in areas such as Cala Pi, rising to €500,000 along the most popular part of the coastline at Son Veri Nou and Bellavista, where the exclusive designer hotel, Cap Rocat is located.
Currently, the most requested properties are villas and semi-detached houses, according to the report from Engel & Völkers. The most popular areas are along the coast where property will have views across the Bay of Palma towards the city and include Cala Blava, Puig de Ros and Sa Torre.
The average price for villas beside the sea is currently €1.9 million euros. Inland, rural fincas with land and distant sea views average approximately €1.4 million. In 2018, according to Engel & Völkers, the second highest sales price achieved in Mallorca was registered in Llucmajor for €15.3 million.
The southern Mallorca capital Llucmajor is attractive as it has top sports facilities including three golf courses, namely Golf Maoris, Son Antem and Son Gual, and it’s also popular with hikers as there are six official hiking routes and cyclists due to the 400 kilometres of cycling routes. There are also two marinas and sailing clubs in the region at S’Estanyol and Arenal.
Overseas property investors can get more for their money than in other areas of Mallorca and still be close to Palma, making southern Mallorca a wise investment.