Strong Demand for New Off Plan Developments in Mallorca


A key sign that Mallorca's real estate is stable and thriving is the unprecedented demand for premium off plan developments in key locations. One of the most dynamic regions for this real estate activity is in Mallorca's Southwest where many foreign investors buy on the island.

According to Hans Lenz, Managing Director Engel & Völkers Southwest, "Over the past five years mainly overseas investor demand for new off plan projects has increased twofold in this region and many projects have successfully sold within weeks of launch.

In today's market new construction is at a premium which can add anything up to 20% on the value of the property. Consequently developers have been quick to satisfy a gap in the market for quality new projects that incorporate modern architecture, design, latest technology and premium facilities."

Engel & Volkers' sales figures indicate that the average price of property sold in the south west has jumped from just over €1 million in 2015 to €1.6 million last year and many of the new developments are priced to satisfy this market segment.

The first major new development to be launched this year in the south west is New Folies in Puerto Andratx, one of the island's prime real estate hotspots. The initial sales phase starts this month comprising of 41 contemporary style villas with generous proportions and clean lines that integrate into the Mediterranean landscape.

Says Lenz: “New Folies is the result of many years of experience and thorough research by the developer with the “know how” and collaboration of Engel & Völkers Southwest, to ensure that this project is tailored to the needs of the international clientele offering modern living with every comfort and an excellent social calendar with membership to the Gran Folies Beach Club.”

Other features will include a spa and fitness area, private swimming pool and a community pool, concierge service, parking and 24 hour security service.

In keeping with the demands of this market sector, the design and the layout of each New Folies villa has been planned to provide privacy for each property. All the rooms have large floor to ceiling windows to bring in plenty of light and maximize the sea views.  The green roofs of the villas together with traditional Mallorcan stone (that resemble the ancient dry stone walls found in the Sierra Tramuntana) have been designed to harmonize with the surrounding landscape and create a natural transition to the sea.

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