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A relaxed get-together of international clientele and local dignities took place at the First Mallorca harbour offices in Puerto de Andratx last Saturday, 10th of July. The company launched |
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We are very positively surprised the market is gathering more and more strength and deals are closing at a rate higher than foreseen at the end of last year. This is the best motivation for a prepared and eager team of 20 sales executives... |
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The event takes place in the evening on Saturday the 4th of September, in Palma de Mallorca´s ONO Football Stadium. This will be the first LIVE performance by Sir Elton John and Andrea Bocelli together ... |
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In the picturesque village of Sa Coma at Mallorca’s far western tip lies a most pleasant surprise. Situated just a few minutes drive from Puerto Andratx, one of the most desirable and prestigious residential locations on the island, is the Andratx Cultural Centre. |
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A hundred years have past since Art Nouveau was at its peak. Spurred by the industrial revolution, it was the product of a new generation of talented artists ... |
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Back in the 1950’s when American born Steve Kusak purchased with three other friends what he considered to be a “ typical Mallorcan finca”, little did he know that he had instigated the birth of the most luxurious and charismatic urbanisation on the island: Son Vida. |
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Mallorca certainly has its fair share of famous visitors, many of them purchasing homes here, drawn by the islands natural beauty and tranquillity... |
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In the shadow of Palma’s magnificent Cathedral lays one of the few remaining testaments of the three hundred year Moorish occupation |
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On a small isle off the Western corner of Mallorca, dragons roam wild and free; or so legend would have us believe. Sa Dragonera Island, situated less than a kilometre from the coast, was most likely named after its shape, ... |
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We have experienced a very positive start to the New Year with an active January on the real estate market, successfully closing 9 sales with prices up to 2 m €. This is for the beginning of the year, which normally is a quiet time,... |
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How does First Mallorca perceive the
real estate market in 2010?
We are positively surprised the market is gathering more and more strength and deals are closing at a rate higher than foreseen at the end of last year. This is the best motivation for a prepared and eager team of 20 sales executives showing properties daily for sale and for rent, informing clients about the joys and advantages of the island. Personally, I have always thought statistics require careful analysing... but our figures today are simple facts, - market reality and not wishful thinking:
In the first 5 months of this year First Mallorca has sold 50 properties with a total turn-over of 57,650,000 €. This shows an average price of 1,153,000 € per property. The individual selling prices ranged from approx. 300,000 € up to 6m €. Furthermore we have concluded 58 long term rental agreements with an average rental price of 3,800 € per month. These rental prices range from 750 € to the occasional rent of 34,000 € per month.
The strongest nationalities purchasing or renting at present are the German speaking countries: German citizens mainly and to a lesser extent the Swiss and Austrians. We have also finalised regular sales with British and Spanish purchasers and behind their interests are the Danish, Swedish, Russians and the neighbouring countries to Russia.
The British market is showing strong signs of recovery at this moment. We are happy to note a considerable increase of website visits, inquiries and viewings. The pound is gaining an advantage on the back of the weakening Euro reducing prices for the UK market and creating new investment from international customers. The general mood for German investors is that the insecurity over the future of the Euro directs them towards owning real estate in Mallorca though helping them to sleep sound at night. Mallorca remains a favourite destination for second home purchases - clearly the life-style, climate, facilities and accessibility are considered even more when money is placed with pure logic and cool accounting criteria.
A further figure interesting to know: our 50 sales show an average negotiation margin of 14.8%.
We will forward a new outlook on market developments at the end of August. In the meantime we wish you all a very enjoyable summer.
With best regards
Robert Maunder
Chief Executive
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