Celebrities Buying Real Estate On Mallorca

Published: 05th November 2007
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Mallorca is the largest of the Spanish Balearic Islands, resting peacefully in the Mediterranean sea. This particular island boasts over 300 miles of beaches and is a favorite holiday spot for the wealthy and famous. Palma is the capital city of Mallorca and is the economic and cultural hub of the island.

It's no surprise that one of the most sought after areas to buy real estate in Spain is historic Palma Mallorca. Many of the homes available today are worth millions of dollars and date as far back as the 13th century.

Although Palma has become a modern city, it's real estate is known world-wide for its traditional Spanish beauty and charm. The amazingly beautiful, historic architecture is what draws the majority of foreign buyers to Palma Mallorca. Lovely homes with arched doorways and windows line the streets of this busy coastal port city. The grand Castle of Bellver has lent its beauty to Palma's skyline since the 14th century. Another landmark the locals take great pride in is the Cathedral, one of the world's largest Gothic structures.

Every year, more American, British and German buyers look for property in Palma Mallorca. Whether buyers are looking for their first home or a vacation home, they truly understand the value of the old architectural features these homes have to offer.

Even the latest high rise penthouse apartments are in high demand. These new apartment blocks, Las Vistas, consist of 11 apartments and 6 penthouses. Uniquely designed, you have no next door neighbours to worry about, as there is one apartment or penthouse per floor.

Builders in Mallorca follow a very minimalistic code in their building techniques just as the Mallorcan people cherish in every aspect life. Arched doorways and windows not only look more authentic, but they use fewer resources. Using fewer resources is key when the materials used are 100 per cent natural.

Palma Majorca has recently been named the best place in Spain to live. Many celebrities agree and now own homes in Majorca, including Michael Douglas and Catherine Zeta-Jones in Valldemossa. Boris Becker and Claudia Schiffer own homes on the southern side of the island. Sir Andrew Lloyd Webber, Lynne Franks, Mike Oldfield and Pierce Brosnan also own property on the island.

Why are so many celebrities buying homes after taking holidays in Mallorca? Speculation is so they can enjoy the peace and quiet and move about town without the swarms of paparazzi. In addition to the celebrities who already own homes here, Mallorca's frequent visitor list resembles an all-star cast in the latest Hollywood movie. Recent visitors include rock stars Annie Lennox and Rod Stewart with his wife Penny Lancaster. Stewart and Lancaster recently had the luxury of a quiet dinner, seemingly unnoticed by the locals.

Real estate prices in Mallorca vary greatly depending on the size of the property in question, amenities and proximity to the beaches. If you're looking to make one of the larger purchases possible, look no further than the capital city itself, Palma. Flats in the historic parts of the city can vary in price from $350,000 to $565,000. In Andratx and Camp de Mar, villas range from $1,000,000 to $35,000,000; and in Soller Valley a stone-built, rustic finca can be purchased from $700,000 to $1,100,000.

Buying property in Mallorca is considered a very sound investment with property values continuing to rise for the remainder of 2007 and 2008.
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Holidays in Mallorca - also known as Majorca - can be as expensive as the best holidays in the world - but can be done on a budget too.

YourMajorca.net offers visitors cheap Majorca flight information and for Majorca accommodation cheap hotels in Majorca

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