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The only way is up: Balearic popularity and property prices are soaring

One of the most amazing properties currently on the market!

Quite frankly, anywhere else a villa like this might stand out like a sore thumb with or without the posy chopper – not here on Mallorca. Its €40m price tag alone would set it apart from the rest, never mind the fact that every internal room and external space changes colour thanks to whizzy LED light effects. Every tree, plant and stone at Chameleon House can switch colours in a flash – and the 10-bedroom villa’s outdoor pool has a floor that rises to adjust the water’s depth and a swing bridge that converts into seating around a vast roof terrace.

In Mallorca, though, such a property – while certainly at the highest end of the market – barely raises eyebrows. The Balearic Island, along with neighbouring Ibiza, has become one of Europe’s most cutting-edge and desirable spots, not just for summer fun palaces among the world’s super-rich but, as a place wealthy buyers want to live full-time, some of them running their global businesses from their island homes. The excellent flight connections to and from Palma de Mallorca airport plus superb client attention at the airport make it so stress-free to commute to locations and company offices in the world’s major cities. Of course, the multi-millionaires have fantastic, separate facilities to land their private or corporate jets at Palma airport and these are among many other important factors why more and more big investment is heading Mallorca’s way!

After seeing a 20-30 per cent dip since the worst of the recession, Mallorca’s property prices rose by nearly five per cent last year, according to research and lifestyle reports. One in four residential sales in Spain in 2013 took place in the Balearics, which is pretty astounding for two tiny islands, and Antonio Fuster, CEO of Balearic Properties concurs that last year was a phenomenal sales year - with this year already looking to overtake the 2013 sensation!

Forget mainland Spain with the ongoing real estate sluggishness, Mallorca and the islands are thankfully a world apart and have always shown great ingenuity and charm when it comes to dealing with top international clientele. “Never before have so many €5m+ villas been sold in one year,” Antonio says. “The Balearics have the highest foreign resident population in the whole of Spain at 20.1 per cent, and it’s this nationality mix that keeps our property market so strong and continuously attracts foreign investment. Germans are still the biggest buyers, but Brits are in second place and I expect more Chinese, Middle Eastern and other non-European buyers this year.”

Mallorca’s money is currently congregating in the south and around Palma, which saw the majority of those reported €5m+ sales. But also take note of Mallorca’s smaller “sister” island, Ibiza. Due to its more diminutive scale, Ibiza has “hot property” all over the island. The millionaire DJs, pop or films stars, and flashy business types tend to settle in the countryside around villages, where their restored farmhouses sell for multi-millions. But for someone who wants to be in the thick of it, purchasing a luxury apartment or indulging in a fabulous penthouse is the ultimate trophy property in Ibiza Town, especially for those who love to admire their gleaming yachts from the privacy of a stunning terrace with sweeping views over the town and the Med.

Ibiza life Marina Apartments for sale

Some agents and property owners are now gleefully comparing the Balearic Islands to the Cote d’Azur in terms of its glamour and lifestyle appeal to the flamboyant rich. “Someone commented to me last summer that they’d never seen so many super-yachts on the islands,” says Antonio.

It might seem strange to a “normal” human being to think that anywhere in Spain – one of the European countries hit hardest by the global crisis – could offer a perceived "safe haven" for rich global investors, but that is exactly what the Balearics have become and these buyers know very well why they are investing heavily in the islands real estate market.

Demand in Mallorca is no longer reliant on buyers from Britain or Germany, as it has been previously. There are now wealthy buyers from the rest of Europe, Russia, US and other parts of the world seeking a lifestyle investment in bricks and mortar and they have identified Mallorca as a key target location.

Balearic Properties are rightly proud of the company’s extensive property listings which accommodate all kinds of personal requirements and visions. A small “pied-a terre”, a restored town house in one of the gorgeous island villages, trendy apartments and penthouses in the capital, Palma or another island hot-spot, charming country villas in tranquil surroundings and most luxurious villas on the seafront – here at Balearic-Properties.com® we fulfil your heart’s desire!

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By Iris Gruenewald

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