House Hunting on Majorca: A Stone Manor Mixing Spanish, French Styles

Abstract

"French fruit dealers used to come to Sóller to get oranges and other citrus. And a lot of Majorcans went to France at the end of the 1800s and early 1900s, when the island was fairly poor. They returned with money and French influence." This property was likely built toward the end of the 19th century, though the exact year is not known because the island did not start registering properties until 1900, he said. "People know what they're looking for and they're not wasting time," said Jack Newberry, an associate property agent with Balearic Properties. "In the past our offices always had about 2,500 properties for sale. It's just below 2,000 at the moment." While there is considerable new construction, it usually requires tearing down older properties, as about 40 percent of Majorca is protected area, Mr. Hofer said. Smaller properties are available in the city of Palma for considerably less. Seeking to tamp down demand from outside investors, the Balearic government last year announced a ban on new holiday rental licenses, which are required for owners who wish to rent out their properties. "There were areas where the streets were absolutely packed because everyone was renting out their properties. But the ban hasn't really cooled the market." Who Buys on Majorca The market is largely driven by foreign investment, predominantly from Germany, Scandinavia and Britain, Mr. Newberry said. Annual property taxes on this home are around 1,200 euros, Mr. Barrera said.