Elena Gocmen Rueda
MALLORCA is registering record demand for off-plan designer homes this year, surpassing pre-pandemic records.
According to German luxury real estate agency Engel & Völkers, the highest demand for top-end homes is from Germany, the UK, France, the Netherlands, Sweden, Switzerland and Austria.
“Due to the scarcity of building land, developers have focused on building luxury properties with the best Mallorcan architects who bring prestige to each project,” said the real estate company’s director Hans Lenz, talking to Ultima Hora.
“Clients are particularly interested in sustainable and customised projects in a price range of between €595,000 and €2.8 million.”
The company currently manages 30 projects in Mallorca, with a total turnover of around €750 million in new construction.
The areas that are attracting the most investment are the Serra de Tramuntana, Port d’Andratx, the Son Vida area and the old centre of Palma.
READ MORE:
- Estate agent predicts ‘record year’ for Brits buying property on Spain’s Costa del Sol
- Spain property sales rocket above pre-pandemic levels
- Property sales go through the roof in Mallorca with Brits and Germans buying on the island
