Last month we published an article regarding the latest average residential property prices in Mallorca details of which can be found here (Mallorca property prices April 2014). But while such figures offer a good indication of overall market trends, they aren’t always helpful when it comes to considering values in a particular town or area, which may be very different to the “average”.
This is also the case when considering the values of what could be regarded as the mid to high end properties largely bought by foreign buyers. Here even the best deals will often be at levels considerably above this “average figure” for Mallorca as a whole.
As a example here are some values of higher quality properties in Mallorca, ranging from the lower to the higher levels. As with average prices, these figures should not be used in isolation, when considering the value of any particular individual property, rather should be used only as an initial guide when assessing underlying value of a specific property.
Palma Old Town – from 2,500€ per m2 up to 8,000€ per m2. Values will vary considerably dependent on the particular district and location and whether the property has special characteristics such as extensive outdoor terraces, open views (including sea) etc
South West (Andratx, Bendinat, Santa Ponsa etc) – from 2,500€ per m2 up to 25,000€ per m2. The lower end will apply to non sea view apartments in secondary locations such as Palmanova while higher end associated with the very best quality front line villas in say Bendinat and Port Andratx.
West Coast (Soller, Deia, Valldemossa etc) – from 2,000€ per m2 up to 18,000€ per m2. Lower end will be smaller older apartments without sea views in say Port of Soller and the higher end will apply to top quality fincas in, say, Deia with stunning sea views.
North (including Pollensa and Alcudia) – from 1.900€ per m2 and 7,500€ per m2. The lower values will apply to secondary older properties in the Ports of Alcudia and Pollensa – particularly the former, while the higher values applying to the best rural fincas around Pollensa old town or front line villas or apartments in the Port of Pollensa, Barcares or Alcudia beach and Aucanada.
Central Mallorca – from 900€ per m2 up to 7,000€ per m2. The lower prices apply to older apartments in secondary villages in the central region, while the higher values to top quality fincas in areas such as Alaro, Santa Maria, Binissalem, Selva, Campanet etc
North East (including Arta, Capdeperra, Son Servera, Canyamel etc) – from 1,000€ per m2 up to 10,000€ per m2. The lower levels applying to apartments and smaller village houses in rural areas or in secondary resorts such as Cala Millor or Sa Coma, while the higher values relevant to front line villas in locations such as Cost de los Pinos, Canyamel and Font de Sa Cala
South Mallorca (including Santanyi, Cala Dor, Llucmajor etc) – from 1,800€ per m2 up to 6,800€ per m2. The lower figures applying to older second line apartments in poorer areas of say Cala Dor or secondary inland towns and resorts including Colonia San Jordi. Higher prices will apply to the best rural properties of say Santanyi and top quality front line villas of Cala Dor, Porto Petro etc
If you are looking to buy a property in Mallorca, and would like the support of a specialist Buyers Agent, that is also a valuation specialist, please contact us. We will help not only identify the best properties that meet your requirements but will also help assess the underlying value in order that all negotiations are fully informed and you buy your dream home at the most appropriate value
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