The finest properties in Mallorca / Majorca

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We are now amazingly already at the end of 2007 - That Was The Year That Was !!. How time flies when you are busy!!

As always, we have summarized some interesting news for you and then present you with some of our newly listed properties in the below feature section.

The following information is very simply Michael Cunnington's understanding of the matters mentioned and in no way should be taken as an official view - any comments from readers will be welcomed.

I am constantly being asked these days "How is the market?" My answer is that "the top end seems to be holding up well but it would be naive to ignore the reality that there is a certain financial nervousness throughout Europe and probably more so in the UK". Further, because we are a relatively small (but very important!) company, our statistics are across a fairly small spectrum and I therefore rely to some extent on "hearsay" from other agents. Did you ever hear an Estate Agent admitting that the market is in poor health???

The intention of these brief newsletters is NOT to be a Selling tool, but as the market IS in a slightly less bullish state - various real opportunities "pop up", and I can't resist giving them a plug! We have therefore several situations where we have what I will call "Keen Sellers" and a few bargains for those with cash in their pocket ;-

1) Front line Villa to reform with separate guest house and jetty near to Cala Ratjada - a splendid location with its own jetty! Ref: 07038 - 3,500,000 Euros

2) A superb old mill with 2 acres in an attractive village - great location within twenty minutes of Palma. Ref. 06013 - 3,250,000 Euros

3) A two bedroom ground floor apartment in the famous Anchorage Club with a super terrace - this IS a bargain at 650,000 Euros. Ref 07063

4) Two houses in Son Vida at very sensible prices and well located on the golf course. One is in excellent condition but a bit glitzy and the other is really in need of a complete makeover - both priced at around 2.5 million Euros Ref 07062 and 07066 but I think there is some flexibility in the prices here.

5) A fantastic Puerto Andratx large waterfront house with guest apartment completed structurally but ready for finishing and priced finished at 4,500,000 Euros or 3,900,000 Euros as it is today Ref 07065.

See www.mjcassociates.net

So Roll up and form an orderly queue please.

Enough Sales Talk !!

Puerto Adriano - I can confirm that work has actually started on the construction of the new sea wall for the marina extension. I have actually been and seen with my own eyes - so I am now somewhat more convinced that it WILL happen.

Property prices in the area of Nova Santa Ponsa are already reflecting significant increases in prices. I am sure they will continue as the infrastructure in the area continues to improve. The three Santa Ponsa golf courses - the Santa Ponsa Country Club - the improved motorway connection - the beach being increased in size - all add to the sophistication of this location.

As you walk the narrow streets in areas which used to be almost "no go" zones, it is amazing to see the enormous number of renovated facades of these super old buildings - the streets themselves have been restored to their former cobbled glory, plazas or squares with pleasant gardens or a fountain, the occasional dreadful sculpture in rusty iron (I don't understand this - philistine that I am!) but generally a very much improved city centre.

There are still opportunities for conversions of old palaces - either into apartments or to re-instate them as important Town Residences. One thing to watch out for - make sure that there is PARKING!!!

A great way to see the "Old Town" is to take a trip in an open carriage - sitting back in the seat you are able to see the full splendour of the architecture which you really don't see either from a car or walking. Fix the price before you go for a 30 minute tour.

Lots of street entertainers - a Carole service at the Cathedral last Sunday evening - Handels Messiah sung by several choirs next Saturday - New Years Day Concert at the Auditorium - and many other activities.

As in the UK, first time buyers have a real struggle to get on the property ladder. Central government has come up with a plan to assist young people with rental - they can receive a grant of 200 Euros a month towards the rent provided that they are within a certain income and age bracket. To rent a ropey studio now costs around 500 Euros a month and a half decent two bedroom flat can be anywhere from 800 Euros upwards.

So this plan should help. However there is clearly a crack down on short term rentals of apartments and villas without "Touristic" licences (which are virtually impossible to attain!). The main target seems to be holiday lets advertised on the Internet - so if you are in this market - have a care. Generally speaking you can get more or less the same income from a long term rental as from a few weeks of high holiday rents with much less hassle.

Also as in the UK the local government has recognised that one way to assist first time buyers is to accelerate the building programme. There is a great shortage of decent sites for developers - particularly in the South West of Mallorca - but the "affordable housing" mentioned above will also result in some land currently zoned as "Transitional" becoming "Urban" which is good news. No doubt this is way in the future before it trickles through. More Crystal Ball gazing!

As we all know the custom in Spain for years has been to declare a contract price (somewhat lower than reality) in front of the notary and for an element of the real price to be paid elsewhere or in cash. This practice is rapidly diminishing as computers become more efficient or - some would say - intrusive.

My advice to purchasers has to be - make sure that the whole price is declared - as the Government are entitled to estimate the real value regardless of what is on the deed - and the buyer is liable for the 7% tax on the Government's assessment. I think it is realistic to have some allowance for furniture structured into the deal but this has to be sensible. Under declaring also has a negative "knock-on effect" re Capital Gains Tax. As always - check with your lawyer or with us if in doubt.

HAPPY CHRISTMAS TO EVERYONE FROM ALL OF US AT MJCA AND HOPING TO SEE YOU IN 2008.

My thanks to all our clients for entrusting us with their properties to sell and to buyers - present and future - for your support and loyalty.

Michael


ATTRACTIVE FINCA IN CAPDEPERA

Delightful country finca with guest house, just 10 minutes from the sea. Experience the peace of the Mallorcan countryside in a beautiful tranquil setting, surrounded by orange groves, Mediterranean gardens and a bordering stream.

Original watermill offering 3 double bedrooms, 2 bathrooms, living room with fire place, fully equipped kitchen, cosy dining room, and a guest house with 3 bedrooms large bathroom and kitchen/living area.

REDUCED PRICE: 900.000 Euros

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CALA MORAGUES OPPORTUNITY

Excellent Frontline villa in construction in Puerto Andratx.

The villa has a main house and a guest house with a total living area of approx. 630 m2 containing: 6 bedrooms, 6 bathrooms en suite, kitchen, living room, dining room, several open and covered terraces and a pool with impressive views over the sea.

The property is sold as is and can be finished to a high standard for 600.000 Euros

Price as is: 3.900.000 Euros

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FRONTLINE OPPORTUNITY

A wonderful opportunity to buy a front line property on 2500 square metres with real access to the sea and even a jetty!

The main house (570 square metres) - right on the water's edge - is on two floors with spacious rooms and terraces. Separated by a few steps is the guest house (270 square metres), also has excellent views as it is elevated above the main house.

An ideal project for complete renovation or rebuild.

Price guide: 3.500.000 Euros

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EXCLUSIVE SON VIDA RESIDENCE

In the exclusive Son Vida estate overlooking the golf course, this villa is in excellent condition and has light and airy rooms with high ceilings.

The villa consists of a master suite and 2 double guest suites with access to impressive terrace, plus a fourth suite, large living room, dining room, and a well equipped kitchen. In addition there is an independent apartment with living room, kitchen and bedroom. The villa is surrounded by a small garden and a terrace with pool, and has great views over the golf course.

Price guide: 2.650.000 Euros

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IDEAL FAMILY HOME CLOSE TO PALMA

Lovely new built villa in the rustic urbanization of Puntiró. Just 15 minutes from Palma city centre, this property is ideal as a familiy home.

Built on a hill top the villa has excellent views towards Palma and the Bay. On a plot of 7.514m2, the villa has a living area of approx. 450m2 consisting of open ceiling living room, dining room, unfurnished kitchen, master bedroom with terrace and en suite bathroom, 3 large bedrooms, 3 bathrooms. The house is surrounded by several terraces and a lovely garden with pool and BBQ area with toilet- all with great views.

Price: 1.600.000 Euros

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Tel: +34 690 075 169 Email: info@mjcassociates.net
Calle Convent des Caputxins 4b - 1d, Palma, Mallorca, ISLAS BALEARES 07002