Choosing a location in Mallorca to invest in
Understanding Mallorca's Locations
The foothills, the coast, the plains, building laws, services and lifestyle
Choosing where to buy property on the island, even one the size of Mallorca, is the first big decision, and possibly the most important one you will make in the whole buying process.
Deciding where on the island you want to buy is elementary to the kind of property you are likely to acquire and how much you can expect to pay. Townhouse, penthouse or country villa depends largely on your budget and on the area you choose in Mallorca, as does the proximity to the beach, or to Palma city and Palma de Mallorca airport.
Urban or rural property in Mallorca
It is essential to fully understand the distinction between urban (urbanizado) and rural (rural) land and the laws that govern them. The area you choose will largely determine the house you buy but also whether your property will be legal and how much if anything you can refurbish, build or alter it. Real estate near or within Mallorca’s protected natural areas or on the coast is far more valuable and hard to come by than say inland, where you can still find run down country estates in need of a refurbishment at reasonable prices. The villages in the mountains and foothills of the Tramuntana offer a rustic idyll of another Mallorca far off the beaten track, while the Palma de Mallorca is a bite sized, modern, cosmopolitan capital with a vibrant cultural and social life, on a par with any major European city.
The Mallorca lifestyle
Surprisingly diverse given its small size, Mallorca packs in a vast array of opposites in landscape, terrain and culture and extends right across the economic spectrum. Choosing your area is key to the kind of home you buy, the lifestyle you can hope to enjoy and the margin you will be getting on your investment in real estate in Mallorca.
Both the east and western coastlines are mountainous, beautiful and remote villages atop high peaks, but take longer to reach. The central plain is where the vineyards are, beware of climate here though, as these areas are less protected from extreme temperatures.
The lifestyle on the island varies with the terrain so it will depend a bit on the amount of time you think you will be spending on the island; coastal resorts can be totally boarded up and empty in the winter months, while the villages retain a heady calendar of local festivities and events.
Palma de Mallorca
Services and amenities in your area
Geographically extreme in parts and multi cultural throughout, Mallorca offers activities and services not usually found in a small resort island in the Mediterranean. Classical music festivals, wine fairs and an assortment of eateries offering traditional and cosmopolitan cuisine, multi lingual media, theatre and cinema, as well as German and English doctors, lawyers, tax advisors and international banks are readily available, and given the size of Mallorca, a short drive will get you across the island in under an hour.
Investment opportunities in Mallorca
Demographic changes and the expansion of the EU have seen more and more people choosing to move south to warmer climes and friendlier lifestyles, and Mallorca, one of the wealthiest areas in Spain, offers huge opportunities for investment in real estate and a better quality of life. Think climate, clean air, great cuisine, lower costs, easy access and somewhere everyone will want to visit you in... Where you choose to buy in Mallorca however, will determine what kind of investment you make.
English speaking areas on the island
While the local island community strives to safeguard its language and traditions, it has fully embraced the expat community and welcomes the diversity and economic buoyancy it brings. There are areas which have become predominantly one or another nationality; German, Scandinavian and English mostly, and have consequently spawned a whole array of services and amenities required by the different nationalities they have embraced. The north of the island; Port de Pollensa and Pollensa particularly, are mainly British with a healthy chunk of German residents and tourists. Other nationalities are French, Dutch, Argentinian, mainland Spanish and Moroccan.
Types of properties in Mallorca
Mallorca's diversity extends to culture, traditions and language, but also the varied terrain and the kind of property available in the different parts of the island. Townhouses, apartments, residential areas, country villas all provide very different benefits and challenges.
Do you want a sea view, to be close to local shops or within walking distance to town, is it important to you whether there are any international schools nearby and do you want neighbours at all?
These are just a few of the questions you will have to ask yourself. And a good understanding on the multifaceted nature of this island will stand you in good steed for making wise choices and choosing real estate in Mallorca in the right area for you.