Experts in Mallorca dream homes are beginning to notice a certain evolution in house prices between depending on their location, an evolution that is becoming a trend.
This particular trend was noticed by Mallorcan realtors Mallorca Sotheby’s International Realty which is a company working with top clients and closing deals that would leave others fainting when looking at the price tag. The company says that this widening in the price gap for shoreline property and inland property is dictated first and foremost by demand: currently the ratio is at 5 to 1 for homes on the coast.
Another reason is that the Mediterranean plays a key role in the appeal of Mallorca as an island and consequently on the Mallorca real estate industry. Although the center of the island houses important towns like Inca, the most expensive property remains that which sits very close to the water. Stephen Dight, Managing director of Sotheby’s International Realty was quoted as saying: “Whilst you may pay nine million Euros for a 900m² (9,684 square foot) property on a 4,500m² (48,420 square foot) plot in a prestigious seafront location, you could have a charming 475m² (5,111 square foot) property on a mammoth 25,500m² ( 274,380 square foot) countryside plot within 20 minutes of the capital, Palma, for less than a third of the cost, 2.85 million Euros ($3.96 million).”
Even more expensive are the properties why lie along the cliffy coast on the eastern coast. If the property has private sea access and also affords yacht mooring, than expect prices to go even higher. Views of the sea through massive glass wall facing the water are a must and indeed, as one travels along the coast he will be able to see a pattern.
So if you have the money and you can find one of these houses, it would be a good idea to purchase it, not just for yourself, but also as an investment since analysts don’t think the price on this type of real estate will go down anytime soon.