4 Up-and-coming neighbourhoods in Palma
These are the top neighbourhoods in Palma which are on the rise with great locations and lots of potential.
Buying property in Mallorca is a great investment, but with such a busy property market, it can be hard to identify bargain deals and neighbourhoods with potential. It was only a decade ago when properties in Santa Catalina where being sold for cheap. These days Santa Catalina is the trendy neighbourhood in Palma with average property prices at 4.733 eur/m². But where are the next up-and-coming neighbourhoods in Palma where one can make fantastic property investments?
Property for sale in Calatrava, Palma Old Town
The old town neighbourhood of Sindicat is part of Palma Old Town, which is known for its historic luxury apartments surrounding the famous La Seu cathedral. Average prices in the old town are 4.981 eur/m² but in Sindicat real estate prices are approximately 8% lower. Sindicat is undergoing rapid gentrification, with a number of property investments being made into luxury developments, and boutique hotels. Other investment opportunities include townhouses and residential buildings.
Sindicat is one of the top neighbourhoods with potential in Palma. Average property prices: 4.584 eur/m²
2. Pere Garau
Pere Garau is located close to Palma Old Town, next to the famous Avenida Alexandre Rosselló and behind El Corte Inglés, the largest department store in Mallorca. This area is considered to be the downtown area in Palma, ripe for investment, with many commercial properties, banks and offices just a short walk away from Plaza de España. Here you will find many historic properties from the 20th century, modernist apartment buildings and traditional townhouses with potential.
Pere Garau is one of the top up-and-coming neighbourhoods in Palma.
Average property prices: 2.597 eur/m²
Portopí is a revitalised port district near Paseo Marítimo, which includes the Club de Mar marina, seafront restaurants, hotels and nightclubs. This waterfront area in Palma also has the Porto Pi shopping centre and the only casino in Mallorca. New luxury developments are emerging to provide holiday homes for international buyers. Portopí receives many cruise ship passengers from the nearby terminal. From Portopí you can also take the Baleària ferry to Barcelona and Ibiza.
Portopí is one of the fastest growing neighbourhoods in Palma.
Average property prices: 4.341 eur/m²
4. Cala Mayor
The seaside neighbourhood of Cala Mayor is where you will find the closest beach to Palma. This eclectic area includes the royal palace of Marivent and the Fundació Miró Mallorca, but has also for many years been a controversial neighbourhood with run-down apartment buildings. The seaside location and stunning sea views make this a great area for property investments, with many international developers already taking advantage of the immense development potential.
Cala Mayor is one of the top neighbourhoods for property investments in Palma.
Average property prices: 3.801 eur/m²
Find investment properties in Palma de Mallorca
There are many options when buying an investment property in Palma de Mallorca and Balearic Properties is here to help you make an informed decision. Contact one of our offices in Pollensa or Puerto Portals to discuss Mallorca property investments into holiday homes including luxury sea view apartments, villas, country homes and commercial properties such as hotels and restaurants. We have over 20 years of experience in helping international buyers invest into property in Mallorca.