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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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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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First Mallorca, Heidi Stadler reports the sale of properties for the third quarter 2009 is getting better and the usual confidence in investments in the island is slowly but surely returning. |
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A relaxed get-together of international clientele and local dignities took place at the First Mallorca offices in Puerto Andratx last Saturday, 10th of October. |
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The narrow stone staircase spirals downwards into blackness. A quick inspection soon reveals there is no arrow or sign explaining where it leads. ... |
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MARKET REPORT FIRST MALLORCA
3rd QUARTER 2009
There is a general feeling that the worst is over ………..
The real estate market on Mallorca is clearly picking up and the usual confidence in investments in the island is slowly but surely returning. We see the German and now also British buyers actively in the market again, furthermore, there is renewed interest from many niche markets such as Denmark, Switzerland, Austria, the Czech Republic and Sweden.
There are attractive prices on specific properties to be obtained and the general product selection is excellent. This is no doubt a very good moment to explore the real estate opportunities on the island. Saying that one has to be aware that Mallorca has never lost its appeal to the vast majority of purchasers and renters.
The general economy in Spain together with the real estate market on the mainland Spain have little to do with local island conditions. Here we also distinguish between an international market for real estate and the local economy. While the Spanish buyers are still holding back, Spanish banks are returning to almost normality with mortgage conditions and the international clientele is continuing to demonstrate their interest and buying force.
First Mallorca´s turn-over has experienced a reduced income by approximately 22 percent. We now face the best time of the year for purchase and rental decisions: Let us see where the market tendency will lead us as we look to the autumn and winter. The signs are promising judging by booked viewing appointments and inquiries.
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