Mallorca’s Luxury Real Estate Market. Where are the best areas?

Those who know where to look can find incredible luxury properties in Mallorca. From renovated country fincas to brand-new developments, there’s something for everyone in Mallorca’s luxury market.

The Future of the luxury market

In the five years prior to the pandemic, Mallorca experienced significant property price increases of around 31%. Pre-COVID predictions also showed an estimated 6% rise in the luxury property market in Mallorca until 2022.

As the world begins to open up once more, it’ll be important for buyers and sellers to keep up to date on the shape of the market. The Spanish Notary Council website posts the latest statistics and local experts can advise on the current situation.

Best areas to buy luxury properties in Mallorca

Thanks to a warm Mediterranean climate, stunning scenery, and an abundance of things to do, Mallorca is an attractive island for buyers of all kinds. This means luxury properties are dotted around the island. But some areas are more exclusive than others.

South-West Mallorca

According to the Financial Times, in 2019 the south-west of Mallorca had the highest proportion of high-end property on the island. If you know Mallorca well, this certainly makes sense. The region is home to several exclusive areas where you can find stunning new developments for sale.

Son Vida

Son Vida is a little like the Beverly Hills of Mallorca. At only a 10-minute drive from Palma, residents can swap the hustle and bustle of the capital for a calm, leafy suburb with breath-taking views across Palma Bay. There are also three golf courses and a renowned hotel and spa.

Son Vida isn’t a large area, but there are some magnificent properties on the market at the moment, including modern luxury villas with stunning interiors.

Andratx

Property prices in the Andratx area reflect its incredible beauty. Puerto Andratx in particular is home to one of the most picturesque harbours in the Mediterranean and is famous for its sunsets. 

Although the area is home to many luxury properties, the former fishing village still retains its old-town allure.

Brad Pitt reportedly fell in love with the Balearic Islands while shooting his 2016 film, Allied. He then bought a gorgeous villa near Puerto Andratx.

West Mallorca

If you’re looking for traditional Mallorcan charm, try a little further north. In and around the Serra de Tramuntana mountains, fantastic rustic villas have been renovated to high standards in areas such as Deià and Soller.

Deià is particularly renowned for its beauty. Perched at the foot of a craggy mountain, the idyllic village is made up of winding streets and sandy stone buildings. The nearby famous cala offers lovely views over the deep blue sea.

Types of luxury properties in Mallorca

You can find luxury properties of almost every shape and style in Mallorca. In rural areas, sprawling country homes often come with extensive gardens. Near the coast, you can find newly built contemporary villas overlooking the Mediterranean, with modern interiors, open-plan layouts, and floor-to-ceiling windows that let light flood in.

In towns and villages, lucky buyers can snap up newly renovated townhouses. On the outside, these properties look like traditional homes, but step inside and you’ll be greeted with fresh and contemporary interiors. Showcasing natural materials, neutral pallets, and outdoor private pools, these townhouses are truly stunning.

Building a home in Mallorca’s luxury market

If you can’t find your dream home already on the market, there are opportunities to build your own. Building plots are available across Mallorca, but it’s important to be aware of zoning and planning permission laws.

As Balearic Properties points out, buyers should calculate all potential costs thoroughly before embarking on a building venture. For example, they say that you should include, amongst other costs, 8% for professional architect fees and 3% for taxes and licenses.

Thanks to its well-established luxury market, Mallorca is home to upscale architecture, interior design, and construction firms that work together to craft a stunning property. And, if you choose to work with good project managers, you won’t need to oversee the process yourself.

Finding the right lawyer when buying a property in Mallorca

Wherever you buy a property, it’s important to get the help of local experts. This is especially true when buying abroad where factors such as legislation, taxes, and language can differ greatly from those of your own country.

Finding a local lawyer who is both an expert in their field and speaks your language might seem like a difficult task. But Property-Lawyers.com lists the best lawyers in the Balearic Islands, including those with offices in Mallorca.

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