Retirement property in Mallorca
Buying your retirement property in Mallorca - A small patch of paradise.
Buying property in Mallorca offers bargain deals, sound investment and a wonderful retirement abroad, provided you choose the right property agent and purchase in the right area. The right area for you, that is. Because Mallorca's small size can be deceptive and the island varies hugely in a matter of kilometers. A house in Majorca is one thing, buying property for retirement on the exclusive and stunning north coast of the island, is a whole different fish.
Buying a retirement property and retiring in Mallorca is going to be a lot easier and enjoyable, that is for sure.
4 Good reasons to invest in retirement property in Mallorca.
As a foreign retirement bolt, for those in their prosperous 50s and 60s, Mallorca ticks a fair few boxes.
For a start there is the lower cost of living in Mallorca, less tax, better climate and now that the housing market has finally bottomed out, bargain buys on all kinds of retirement property in Mallorca.
Retirement property in Mallorca - Making your money go further.
Living in Mallorca, on a day to day basis is a laid back and happy affair. A slow, easy going retirement lifestyle that is spent mostly outdoors and enjoyed in the sunny plazas and family restaurants of the small villages. The island is also well connected, both within and to the outside world.
Just because Mallorca is an excellent place to enjoy your free time however, it doesn't necessarily mean a lower cost of living. It isn't that living and purchasing a retirement property in Mallorca is cheap, because the island isn't cheap. It is one of the most expensive areas in Spain. But, it does have a lower cost of living than the north of Europe and a myriad of financial benefits from cheap travel costs to food and eating out, and everything from utility bills to taxes, once you get your head round them, makes buying property and moving your retirement to Mallorca one of the best things you can do!
Retirement property in Mallorca's warm, Mediterranean climate.
Climate is often one of the deciding factors for choosing retirement property in Mallorca. After all, not only is it warm and sunny all the time, but you save on heating too, right? Well, yes. It is hot, scorching in summer, while spring starts as early as March and autumn stretches on until November.
Don't be fooled by summer holiday weather though, buying a retirement property in Mallorca and living on the island all year round can be a very different experience. If you have only visited Mallorca in the high season, do test drive the winter before you invest in retirement property in Mallorca.
For those of us who live here all year round, the cooler winter months are welcome respite from the heat and a time of calm. Though most foreign residents come to love being here out of season, and enjoy the winter months, property in Mallorca can be damp and cold, so if you are considering an investment in retirement property in Mallorca and staying on the island on a year round basis, insulating and heating your house, if only for the 2-3 months of winter will go a long way towards making the experience agreeable.
So yes, for the greater part of the year, you will enjoy a temperate and sunny climate with long daylight hours and sunshine and living in your retirement property in Mallorca will be a delight. Just for a couple of months, between late November and February, it gets cold. Conditioning your new retirement property in Mallorca against damp and cold will provide you with a comfortable retirement in Mallorca all year round.
Retirement property in Mallorca - A 2.5 hour flight away.
Easy to fly to and from, your retirement property in Mallorca needn't be your full time residence either. The combination of a high-tech international airport, low cost airlines and regular flights throughout the year makes it easy to get to, but just as easy to leave. You won't have to contend with jet lag and you are only a couple of hours flight from most major European airports.
You are near your family. But, will the grandchildren visit? Mallorca isn't such a bad place to visit, and your family, provided you get on, will be more than happy to spend holidays with you at your new retirement property in Mallorca. We do advise however, not to buy a huge house in the eventuality you will be getting masses of visits from the family.
If it is for your retirement in Mallorca, buy the retirement property you need, one that suits you!
That is not to say you won't need a spare room or two, but avoid doing as so many have done before; buying a huge retirement property in Mallorca, a house to fit legions of grandchildren and their friends, only to find that the kids grow up and start to travel elsewhere, and they are left with vast empty rooms they don't need.
Retirement property in Mallorca - Buying to let as a holiday home.
Following years of real estate crisis, Spain is recovering. Mallorca is a little different though. We felt the property crash here too, but never as dramatically as they did on the mainland, and house prices and sales on retirement property in Mallorca remained relatively stable.
Can you afford to retire to Mallorca all year round? Or will you have to rent your property out as a holiday home?
Partly related to my point above, buying a retirement property in Mallorca can be a great investment, provided you buy the right property in the best area to suit your lifestyle and budget. Prices have reached their lowest levels and will now only go up. The market is healthy and buoyant and people will always want to visit the island for holidays in Mallorca.
If you prefer to invest in a large family home for extended family visits and possible inheritance for the kids, or live part time on the island, then seasonal holiday lets can be a fantastic little earner. The rentals market is particularly prosperous and renting your new retirement property in Mallorca when you are away can help fund your retirement in Mallorca.
Deciding to take the plunge and investing in retirement property in Mallorca means you can always let your house as a holiday home for a month or two.
There are other good reasons to buy a retirement property in Mallorca and move to the island.
SAFE : For one, Mallorca is safe and relatively crime free. You can't quite leave your front door open anymore, but you can be sure that neighbours, though nosey will provide good security by keeping an eye out for you, and will generally prove to be friendly and sociable. Crime is limited mainly to private affairs and petty theft and the local police are helpful and bored.
SOCIABLE : There is also a strong foreign presence on the island and many have bought retirement property in Mallorca before you. This is a well trodden path and you can easily meet the international resident community, hear their experiences and find out more about living and retiring in Mallorca.
HEALTHY : National healthcare in Mallorca is good and there are several state hospitals as well as a good selection of private hospitals, clinics and specialist health centres. You can transfer for healthcard to Spain or get private health insurance, at a margin of north European rates.
And talking about health, Mallorca is clean. The air comes straight off the sea in clean, clear gusts. The only time you will smell exhaust fumes is at the petrol station. And Mallorca is beautiful, a small, green island with high mountains and gorgeous beaches in the middle of the Mediterranean.
Your retirement property in Mallorca is a little patch of paradise.