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Building a home in Mallorca

December 9, 2012 by ·

Have you found the perfect plot but now just need the perfect house to go on it?

Building your own home on the beautiful island of Mallorca could mean making your ‘dream’ property a fabulous reality. So many people who have already chosen to settle here have drawn inspiration at one point or another to build their perfect piece of happiness. Whether that’s a stunning example of modern architecture found hugging the cliffs in Port de Andratx, or around Palma such as in Costa d’en Blanes and Son Vida.  Or perhaps a piece of quiet elegance in the tranquil countryside of Soller or Pollença.

Building a home in Mallorca

To some it could truly be right at the top of their list of ambitions so it is essential that the process is handled efficiently and by the experts.

 

 

Building your own home on the beautiful island of Mallorca could mean making your ‘dream’ property a fabulous reality.

Despite the increasing popularity of bespoke residential development on the Island, you will always find plots for sale or renovation projects available.  Keep in mind when looking that there are two types of plots out there:-

Urban Plots – these plots are found near or within town parameters and are generally already approved for building.  There are of course, a set of restrictions attached to these types of plots.  The main one is that the total building must not exceed 20-30% of the total plot size, there will also be a height restriction in place – normally up to seven meters. The Certificado Urbanistico is a document which confirms the above characteristics per type of plot and outlines in absolute detail the rights and restrictions surrounding the specific plot.

Rustic Plots – found in the more rural areas of Mallorca, these are normally cheaper per meter squared than the Urban plots but the restrictions on these dictate you having to buy more in order to build the equivalent Urban house as your total building size cannot exceed just 4% of the total plot size.  A two storey maximum height restriction is usually in place and you must establish whether or not the plot is on protective land.  The build will also need to be in-keeping with the surrounding countryside and properties and this includes style, construction materials and ongoing maintenance.

The local Town Hall (for Urban plots) or the regional government (Rustic) will have their own specific set of rules so it is essential that you familiarise yourself with these at the very early stages when registering your interest on a plot found in their jurisdiction.

Once you are completely happy to proceed, you must then obtain a Building Permit (Licencia) and this needs to be firmly in place before any building can begin.  In order to obtain a Licencia for construction of a new building in Mallorca, you must have a team confirmed and in agreement to proceed.  This would comprise of an architect, a site manager and a builder.  Needless to say choosing your team will be one of the most important decisions of the whole process, obtain references, look at their most recent projects and always check credentials.

While it may be a daunting project, with the right support and advice this could be a dream realised for you and your family.  We recommend that throughout the process you remain in close contact with your team and, if possible, look to rent on the island for the duration of the build in order that you are easily on hand for those all important questions and answers that will undoubtedly arise.

Balearic Properties Real Estate Agents are happy to help with any questions you might have.

building-a-home-in-mallorcaAbout Anouska
Over the years myself and my husband have loved exploring all over the world. After our first visit to Mallorca we knew we wanted to move here and make this beautiful island our home.
Filed Under: Building your villa, Mallorca Articles, Modern Villas, Modular Villas, Property Investments · Tagged: , , , , , ,

Barclays will invest in the Spanish “bad bank”

December 8, 2012 by ·

LONDON – British bank Barclays will invest in so-called “bad bank” Spanish as a sample of their commitment to help solve the banking problems of the country.

Spain has implemented the bad bank, known as SAREB to remove toxic assets from the balance sheets of banks and get them lending again to businesses and individuals.

Its creation was one of the conditions for Spain would receive emergency European funds with which to clean up its battered financial sector following the bursting of the housing bubble in 2008.

The source did not disclose how much it will invest in the bad bank Barclays. Barclays is one of the largest foreign banks in Spain, with 430 branches, although these have declined after suffering heavy losses.

Spanish banks Santander and Sabadell and insurers Mapfre and Mutua Madrileña have already said they will invest in SAREB, and French insurer AXA said it was in talks to join.

Related Articles

The Spanish Bad Bank will attract new Investors to Mallorca

 

Filed Under: Mallorca Articles ·

Repossessed Properties, Distressed Sales and Bargain Opportunities in Mallorca

December 5, 2012 by ·

Anyone not of the understanding that the Spanish Property market has long since ground to a halt and remains in more or less that same position today is either in complete denial or quite frankly one gamba short of a paella….  Property in Spain was once as hot as the sand on its beautiful beaches in the mid August, however the building boom crashed, the credit crunch hit and as a result a huge percentage of property remains unfinished or empty and abandoned as owners have struggled to keep up with their repayment commitments.

With house prices down by over 30% from 2007, according to TINSA and the bottom of the decline a potential two years away, it has been somewhat difficult to remain optimistic about the property market.

However, there are now some positive steps being taken to ensure this troubled market sees some much needed and desired signs of life.

Properties for sale on the Calvario steps in Pollença

Repossessed second hand properties, new builds, unfinished developments and empty plots are now appearing on agents books.  This range of assets, owned by banks such as Sa Nostra and Santander, are often being marketed at a considerable discount with the main aim to release the liability from the banks balance sheets as soon as reasonably possible, but with achieving the best price at the same time.

This means that you, the purchaser, will benefit.   That is if you shop wisely and act now.  Because the secret is out, those sitting up and paying attention are already aware that ‘now’ is the window of opportunity and they are taking advantage of the low prices on offer.  One UK estate agent has reported a 17% increase of enquiries into their Spanish properties by October of this year, compared to the same period in 2011 and Spain’s very own Ministry of Development states a 12% increase in purchases by foreign investors in the second quarter of 2012 compared to the same period in 2011.  The Balearic Islands are proving to be a popular place to invest and Mallorca in particular because of its safe and secure reputation and island lifestyle.

Proposed revisions to the law surrounding the Spanish lettings market (up until now heavily in favour of the tenant) will also serve to attract overseas landlords keen to add Spanish properties to their growing portfolios and they will be taking advantage of the bargains currently on offer.  That, coupled with the recent announcement by the Spanish Government that automatic residency will be granted to foreigners investing in property to the tune of at least 160,000€  (£130,000), all points to a golden financial opportunity being here and now….

So what are the key benefits from buying bank owned repossessed or distressed sales properties:-

  • Properties are being offered at up to 50% off the valuation figure quoted at the time of repossession
  • There will be no chain and in nearly all cases the property will be vacant, so no delay in moving in
  • You might need to factor in cost of repairs or refurbishment but this may also be used as a reason to negotiate further down from the asking price
  • Automatic Spanish residency will be granted to those investing 160,000€ or more in Spanish property
  • ‘Attractive tax’ offered to non resident investors

…assets are often being marketed at a considerable discount with the main aim to release the liability from the banks balance sheets as soon as reasonably possible, but with achieving the best price at the same time

Once upon a time repossessed property was not such an attractive option, the property often being in an undesirable location or in a dilapidated state, however this is now not the case and a much broader range of property is being offered, so please do take the time to consider this route if you are looking to invest in property in Mallorca

Balearic Properties Real Estate Agents are ready and waiting to discuss the issue of Bank Repossessions and Distressed Sales with you, so please don’t hesitate to call us or drop in to see us.

building-a-home-in-mallorcaAbout Anouska
Over the years myself and my husband have loved exploring all over the world. After our first visit to Mallorca we knew we wanted to move here and make this beautiful island our home.
Filed Under: Distressed Property, Property Investments · Tagged: , , , ,

Top 5 Balearic apartments of the month

December 3, 2012 by ·

Mallorca is one of the places in the world with more luxurious properties: high standing apartments by the sea, downtown Palma, in beautiful towns in the Sierra de Tramuntana… Its designs and features are unique, offering endless possibilities.

Balearic Properties has chosen 5 top luxurious apartments in Mallorca for our monthly portfolio, with properties set in different regions of the Balearic Islands, recommending adapted solutions to our customers.

1º Aparment Mallorca

Apartment in Sol de  Mallorca – 600.000 Euro

The first one, a luxurious apartment in Sol Mallorca, one of the more special urbanizations in the island, is perfect for those looking for a special home by the sea. It has bright and fresh designs and overall, exceptional surroundings: gardens, beautiful private stepped pools over the cliffs… and of course, the Mediterranean Sea. The price for this apartment is 600.000 Euro

2º Apartment Mallorca

Apartment Mallorca – 304.619 Euros

The second option is perfect for those willing to buy a house for the whole family in Mallorca. This high standing apartment in Marivent is a large and comfortable space, perfect for children. What’s more, it’s set in one of the best residential areas in Palma, a few steps from the town center, the commercial area and schools, but also in a quiet area buy the sea.

3º Apartment Mallorca

Apartment Mallorca – 536.000 – Last Units

This apartment by the sea in Sant Agustí is our third proposal: perfect for those looking for a unique and high quality property in Palma. Its minimalistic and luxurious designs make it a perfect place for long and short-term stays, only a few minutes from the center of Palma.

4º Apartment Mallorca

Apartment in Palma de  Mallorca – 850.000 Euro

If you are looking for a property in the very heart of Palma, we offer a unique apartment in Palma’s old town, extremely sunny and comfortable: seamless 200m2 with exceptional features, mixing modern designs with Majorcan traditional style.

5º Apartment Mallorca

Apartment in Palma Mallorca – 1.339.000 Euro

Our last proposal for this month is the perfect mixture: a luxurious apartment with the best features and cherished details in Palma’s seaside, a few steps from the airport. This high standing property is perfectly set in el Portitxol, one of the most fine-looking areas of the island, with an exceptional atmosphere.

Filed Under: Apartments, Best Buys ·

Luxurious properties with avant-garde architecture design

December 1, 2012 by ·

 

Our Premium Residences in Mallorca

Architecture and design trends are constantly changing as time goes by. But new trends in architecture are definitely fixed by luxurious apartments and villas, which represent the very architectural avant-garde in Spain.

In the Balearic Islands, as well as in Catalonia’s northern seaside and in some of the most exclusive spots in Levante’s seaside, there are unique examples of this modern indoors and outdoors combination: sunny open spaces, large windows, and natural virgin surroundings.

Even if great efforts are being made in order to preserve this Mediterranean traditional essence, contemporary designs in luxurious properties in Mallorca and Ibiza are much more focused in minimal and Nordic natural designs, specially conceived to smooth up forms and creating welcoming spaces.

This avant-garde architectural work benefits from unique natural settings, where most luxurious properties are being built. The Mediterranean seaside is somehow a live museum with many examples of this fine artistic work.

The Glass Villa

In Mallorca or Ibiza one can easily find these special and customized spaces respectfully integrated in its surroundings.

This indoor and outdoor integration is the main element of this new trend: one can even forget being in a closed structure and would feel like being living right in the sea, in an open and bright space.

Some of these significative examples of integrated architecture may be found in Mallorca, and some of them are currently on sale. For examples, luxurious properties with sea views in Pollença or this minimalistic villa in Costa d’en Blanes, available at Balearic Properties online catalogue.

Impressive Entrance of this Contemporary House

There are endless opportunities: modern properties with a unique artistic value, modern and luxurious villas highly customizable… In other words, unique, modern and extremely comfortable properties.

 

 

 

Related Articles:

Modular Villas, A new concept of Modern architecture

Modern Villas, the design key elements

Bendinat Mar , Modern Apartments in Palma’s Frontline Bay

 

Filed Under: Modern Villas, Property Investments · Tagged: ,

Cap Vermell, a luxurious area with avant-garde architecture

November 30, 2012 by ·

Modern Villa at Cap Vermell Estate

 

A luxurious complex in a beautiful island like Mallorca is nothing new in the XXI century. But the Cap Vermell Group has made something unique concerning modern architecture: living in a luxurious property in Spain is now a comprehensive and perfect experience.

Cap Vermell is a unique residential area with 70 luxurious villas in Canyamel, the fertile valley. These properties are a few steps from Artà and Son Servera, offering the best services – golf club, beaches – as well as private access to the beautiful beach of Canyamel.

They are perfectly integrated with nature in a beautiful and almost virgin area.

Its main trait is its sunny and clear spaces, catching the magical light of the island.

Architects have designed separate and functional spaces ensuring the best comfort and preserving local tradition.

Plan of the villa development

Majorcan traditional architecture meets modern pure shapes and new trends, offering luxurious arquitechture in Mallorca and mixing classical and modern features: high quality materials, cared details and of course adapted and comfortable spaces.

All of them offer unique natural surroundings as comfortable as indoors. Integrated pools, porches and gardens perfectly adapted to the building. This way, covered and half-covered areas ensure you the greatest comfort all year long.

Frontline Golf Villas with Sea Views

In other words, simplicity, natural beauty, sober lines and clear Mediterranean colours complete these special and luxurious properties in Mallorca, the favourite residential areas by German and Russian investors.

 

 

 

 

 

 

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Filed Under: Mallorca Articles, Modern Villas, Property News · Tagged: , ,

Mallorca News: The bad bank will have taxation benefits to attract more investors to Spain

November 17, 2012 by ·

Luis the Gundis, Spanish Minister of Economy

Luis de Guindos announced several weeks ago that the bad bank would begin operating on December 1, 2012 with all necessary capital.

The ‘bad bank’, a tool “more powerful even than their capital injections”, according to the Minister of Economy, Luis de Guindos, will benefit from atractive taxation measures to attract investors.
The company, called Sareb, allow banks to dispose property assets on its balance sheet to engage in problematic loans and take deposits give, De Guindos summarized in a press conference after the Council of Ministers approved the royal decree regulating its functioning.

You will also have “attractive tax” as a tax of 1% on the corporation tax, in line with the Collective Investment Funds (sicavs), and to attract international investors are exempt from tax in Spain income derived by non-residents without a permanent establishment. The company will begin operations in December with about 45,000 million euros in property assets of banks in state hands.
For the Deputy Prime Minister, Soraya Saenz de Santamaria, the royal decree gives legal structure of society is “a cornerstone” in the process of clearing the Spanish financial sector.

In our opinion, the new measurements are  “a key element” for the economic recovery and to boost the property market and for credit flowing again.
The economy minister said that the creation of the ‘bad bank’ was part of the commitment by the Government to the European Union for support of up to 100,000 million euros to the bank and go live on December 1st.

Right now, he said, is working on the wording of the statutes and the constitution of the company, while the management team selects and presents to investors.
The ‘bad bank’ will take over all the assets and all the assets allocated to credit linked promoter, both problematic as the entities receiving payments, so the government estimates that have a size close to 60,000 million euros .
De Guindos has stressed that the purpose of the company is to facilitate the consolidation of entities, free up capital and allow it to perform professional management of real estate assets, while helping to boost this market.

Balearic Properties have been appointed to sell the stock of some major Mallorcan banks , with interesting discounts up to 50%. See our Bank repossessions section to find the best distressed properties for sale.

Profitability is the key

The company will have a majority of private shareholders and, as planned, it will create several funds with different asset classes to facilitate the entry of institutional investors interested in buying part of the 89,000 homes and 13 million square meters of land.
Participants in these funds will also benefit from a tax regime singular, which frees them from paying the transfer tax and the tax increase in value of land assets that are transferred.
Although the key remains the anticipated return of 15% accumulated in the 15 years of the ‘bad bank’, for which the company will purchase the real estate at significant discounts on book value, which on average are 63 %.
In the case of soil, the reduction amounts to 79.5% and nationalized entities provide about 3,800 million euros in this asset class.
In ongoing promotions, the price at which the assets are transferred to ‘bad bank’ will be 63.2% and finished homes, 54.2%. In loans to developers, another asset that can be transferred to the ‘bad bank’, the average discount is 45.6%, including 32.4% cuts for completed projects and 53.6% for appropriations to finance urban land.

 

Related News from 07 /12/2012

Barclays will invest in the “bad bank” Spanish

Filed Under: Property Investments, Property News · Tagged: , , ,

Cap De Formentor

November 16, 2012 by ·

Cap De Formentor, is located at one end of the Serra de Tramuntana mountain range, which in 2011 was added to the UNESCO World Heritage list  due to its unique cultural landscape.  The breathtaking peninsular of Cap de Formentor, bursting out of the sea like waves frozen in time, is dramatic, wild, beautiful and a must when sightseeing in Mallorca.

Starting at the picturesque  town of Port de Pollenca  just a (dry) stones throw from the medieval town of Pollenca, a cliff hugging road accelerates you immediately up to Mirador de Sa Creueta, giving you incredible views out over the ‘big blue’ and along the highest peaks of the peninsular, not forgetting of course the long way down…. (daredevils may look over the edge now!).  It is here that you will also spot the wild Mallorcan goat and due to the popularity of rock climbing in Mallorca, an abundance of climbers scaling down the sheer rock face.  Rather them than us!  The road at this point slightly diverts you up to the watchtower of Talaia d’Albercuix which offers stunning sunset views over Port de Pollenca and the rolling landscape beyond.

After tearing yourselves away, snake further along the Cap de Formentor Peninsular and within no time you’ll arrive down at Platja de Formentor, a wonderfully tranquil and protected stretch of beach which on a typical Mallorcan sunny day could lead you to believe you were somewhere in the Caribbean.  One of the highlights here is the fabulously grand Hotel Formentor, built in 1926 by Argentinean Adan Dielh, it was the first hotel on the island and still exudes the charm and elegance of those early days, whilst at the same time playing host to the islands elite and famous, honeymooners and great escapers.

Along from this hotel is one of the most exclusive residential areas in Mallorca where you will find the most sought after and coveted frontline villas.

Another popular walk in Mallorca can be found further along the road which leads you down to the bay of Cala Figuera, a deserted and rugged shingle beach described as “one of Mallorcas most inaccessible beaches”.  On the other side of the road you will find a mostly wooded walk leading down to the stoney beach of Cala Murta.

Incidentally, if walking the high road appeals to you, the beginning of Ruta de Pedra en Sec (Dry Stone Route),  a breathtaking weeklong walk along the Serra de Tramuntana, begins at Cap de Formentor  Peninsular and ends in the pretty village of Sant Elm in the South West.

Waiting for you at the very end of Cap de Formentor peninsular is one of the most famous lighthouses in Mallorca.  Here is nothing but panoramic views (over to Menorca on a clear day), a sense of isolation and a cup of tea in the cafe in order to escape the inevitable wind.

 

Cap de Formentor, you can drive it, walk it, cycle it, climb it or sail around it. However you do it, “Just Do It”, to quote a well known trainer manufacturer.

“I came, I saw, I conquered…” Julius Caesar could well have been on Formentor when he uttered those words.  For those less ambitious please do enjoy the wondrous sight of Cap de Formentor Peninsular from the ground, even better, from the comfort of your residence in the beautiful Port de Pollenca or countryside around.

If you are interested in property for sale or rent in Port de Pollenca, please contact Balearic Properties Estate Agents.

cap formentor mallorca

cap formentor mallorca

building-a-home-in-mallorcaAbout Anouska
Over the years myself and my husband have loved exploring all over the world. After our first visit to Mallorca we knew we wanted to move here and make this beautiful island our home.
Filed Under: Mallorca Articles ·

Sailing around Andratx

November 8, 2012 by ·

Being Port Andratx one of the most beautiful and luxurious harbours at the Balearic Islands, one of the nicer activities you can do when you come here is to sail in the wonderful Mediterranean Sea. Yes, because near to Puerto de Andratx you will find paradisiacal coves and beaches, and marinas perfects to spend a great sailing day.    

Just going out the Port Andratx Sailing Club you will find beautiful coves. There is one very near the marina, Cala Egos, that is really worth to visit. In the neighbor village of Sant Elm (San Telmo) you can sail around the beaches, or even to visit the small island of Sa Dragonera, a protected national natural park located just in front of Sant Elm. Sailing near Camp del Mar, you can visit Cala Fornells, crystalline and picturesque; and if you love scuba diving, we suggest you to stop in Cala Monjoi, an ideal place to practice this activity.

If you sail to the north of Port Andratx you can visit the beautiful Cala Valldemossa, where the Hollywood actor Michael Douglas has a summer house. If you keep going to the north, you can visit Cala Sa Reia, famous for being the location where the german TV show Hotel Paradies is filmed; and the beautiful Cala Sa Calobra (even when this is not the best option during high season, because it tends to be packed with tourists in July and August).

From Port Andratx you can easily sail to Palma and enjoy the beautiful coves

A special remark on the beautiful Port de Soller, surrounded by the Serra Tramuntana Mountains. Port de Soller has a small marina and both the village and the landscapes are really worth it. It is a very charming place that we keep visiting again and again. If you have enough time, you can  visit the village af Soller, 3 kilometers away inland, that is very special place because it is located in a valley surrounded by the Tramuntana Mountains, with a really beautiful but very different landscape that the maritime one you can enjoy in Port de Soller. From Port Andratx to Port the Soller there are 29 nautical miles.

If you prefer to go to a busier location, from Port Andratx you can easily sail to Palma, the capital city of Majorca, located just 21 nautical miles away; this is a place were prestigious regattas are usually organized. In Palma de Mallorca there is one of the biggest and more important marinas in Europe, the Real Club Náutico de Palma, very near to the city historical center. There is also a smaller marina located 8 kilometers away from Palma de Mallorca, the Portal Nous marina.

The outstanding blue color of the Mediterranean Sea, its crystalline waters, the breathtaking landscapes and the nice Majorcan weather make that sailing around Port Andratx be an outrageous experience that you will never forget.

What are you waiting for planning your next trip to Majorca? If you are interested in buying a property in Port Andratx please contact Balearic Properties Estate Agents.

Filed Under: Mallorca Articles ·

Mallorca: custom-tailored luxury, secure destination in Spain

October 23, 2012 by ·

Son Marroig – Deia

 

For decades, Mallorca has been -and still it is- a quiet and secure holiday destination, according to different annual surveys.
Tour operators and travel agencies are still sticking to these two key arguments, an inextricable part of Mallorca as a top touristic destination: no other city by the Mediterranean coastal area combines charming landscapes and quality services with security and ease as Mallorca does.

These factors are truly important when choosing a holiday rental in the Balearic Islands, a major element buying a property in Mallorca, rather than in any other Mediterranean city in the sea.

Mallorca’s long experience as a tourist destination offers overseas housing buyers extra services, which are not easily available in other European regions. The island is ready to welcome and provide quality features to foreign investors willing to buy a second home in Mallorca.

Plus, many security and health services are available, as well as modern infrastructure and transport facilities: Mallorca has one of the busiest international airports and connections in Spain, and one of the most comprehensive Mediterranean Ports, visited each year by tens of Cruises and Ferries daily connecting with the continent.

Also, the island’s road network welcomes you touring around Mallorca, enjoying its outstanding landscapes, connecting inner and coastal villages and offering easy journeys to the main beaches and coves.

With quality service areas, modern hospitals and health centers, international schools, sport marinas, golf courses, natural parks, shopping areas and boutiques, Mallorca definitely combines European amenities with Mediterranean tradition.

Mallorca offers the greatest privacy and clam year after year, that’s why it’s a favourite destination by politicians and international celebrities. Quite simply: a perfect place to have a break from routine, away from busy cities and enjoying a luxurious and unique paradise.

Travel Tip: Visit the place in the picture,  Son Marroig Monastir, a heaven on earth

 

Filed Under: Mallorca Articles ·