There is an expectation in the air that the prices of properties will go down. Is that valid for properties in Mallorca? If so, how much can we expect to drop and which properties?

Almost all real estate experts forecast a drop in property prices for homes in Spain as a result of the coronavirus crisis, but there are certain areas where the decrease is expected to be greater than the average. I expect an immediate price drop of 5 to 10 percent in property prices. The mid to long term drop will be around 20% but probably not be as pronounced as after the 2008 financial crisis since prices at the start of 2020 where not as overinflated as in the previous crisis. In addition, the forecast is not the same for all properties, some might even go up in value. A first floor flat in a high rise with no views will go down in price whereas a penthouse with a terrace and a sea view in a prime location might even go up in price. According to several other financial entities, new builds are not expected to feel the crunch as much as second-hand properties.

 

Why shall a foreign buyer consider Mallorca for investing? Any specific reasons? How did Mallorca manage the whole Covid crisis? Is Mallorca a safe destination in the future as it was before?

As seen in previous economic crises, Mallorca has a great capacity to recover, reactivate and reinvent itself. Its privileged lifestyle and environment are hard to beat. Mallorca’s real estate market will remain active due to a number of different reasons. The volatility of the stock market will lead many investors to invest in real estate, especially smaller properties in prime locations that are easy to rent out. Foreign buyers might see in a second home a safe investment and an excellent opportunity to spend their holidays in a safer environment. Mallorca´s proximity and connections with Europe might also come as a competitive advantage when compared to other beautiful but far away destinations. People will want to have their second home in a destination that is both secure and easy to reach.

 

What future trends, concepts do you see will be successful in the real estate market in Mallorca? What kind of properties? Locations?

The confinement we have gone through will lead local buyers to search for a new type of property that is more adapted to one’s lifestyle and with more outdoor space. Some foreigners will now opt for purchasing a second home rather than staying at luxury hotels since they might see in a property not only a secure investment but also an excellent opportunity to spend their holidays in a safer environment. Country homes, singles family homes with gardens and penthouses with large terraces will become even more attractive than before.

 

 

How do you work differently towards your clients. Will you or have you changed your services? What will be the expectations of the clients in the future?

Adversity also fosters innovation and in our company we have had to implement new technologies and procedures in order to carry on business under lockdown. For example, we have incorporated live video viewings of homes. These new technologies and procedures are now here to stay and they have improved our standard services in a very positive way. We have also taken this opportunity to reconnect with our old clients. We have also focused on listening better and responding better to the requirements of our new clients. As a result, I think we will come out from this crisis more agile, more efficient, and all around a better, stronger team.

 

How do you think the real estate scene will change in the near future? There was a good upside development the last 3-4 years. Will that continue? Or will some agencies and actors close down? Consolidation? 

Thanks to the reactivation, new listings have come on the market this last month. Purchase enquiries have increased at a steady rate over the last weeks. In general, we expect this positive trend to continue as social distancing measures are slowly loosened and plans have been made for reopening the flights with Europe. Spring is traditionally peak buying time, but due to the inactivity over the past few months, experts expect to see an uptick in buying over the summer and the fall. With respect to the number of real estate agencies, in the last crisis of 2008 a lot of actors were wiped out. I believe that just like last time, a lot of the smaller agencies that were just a sales person with a telephone and a secretary, which were already struggling to get to the end of the month, will close. Real estate agencies that can´t diversify their product or market and adapt to new technologies will also suffer. However, real estate agencies like ours with a solid background and a diversified portfolio will continue on the right path.

 

Which areas, type of properties would you recommend to your future clients in Mallorca?

I recommend the following types of properties: penthouses with terraces in Palma or very close to Palma, small well priced 1-2 bedroom properties that can easily be rented out, townhouses and single family homes within a 15 minute drive of Palma and country properties close to lively villages.

 

Johanna Andersson

Team Assistant @ Mallorcaresidencia

 

In addition to the obvious environmental aspect of shopping locally (avoiding transport and packaging), you also benefit the local economy. And now more than ever with the ongoing pandemic COVID 19, the importance of shopping locally has become increasingly evident. Mallorca offers a large selection of locally grown fruits and vegetables but also other locally produced high quality products, such as wine, cheese and olive oil. If you have the opportunity, we recommend you to visit one of the local markets on Mallorca.

Mercado Ecológico de Palma takes place on Tuesdays and Saturdays between 8 am and 2 pm at the Obispo Berenguer de Palou (Plaza de Los Patines) in Palma. Organic, local and seasonal products are sold directly from the cultivators without intermediaries. Santa Maria del Camí has market day on Sundays. The selection is wide and there is a section of the market that offers organic products. The market in Sineu (Wednesdays) is one of the perhaps most well-known with a large selection of local products such as ceramics and decoration in addition to fruits and vegetables.

In Palma, you can shop locally in the markets that can be found in Plaza del Olivar, Santa Catalina, and Pere Garau.

It is also possible to buy the local products online. In Mallorca, many agricultural cooperatives have joined forces and started selling online with home delivery during the pandemic.

https://mallorcaencasa.com

This web collects more than 60 different shops and not only do they sells local fruits and vegetables, but you can also buy everything from locally produced beer to ice cream and sobrasada.

https://sabordemallorca.com/venta-online-productos-de-mallorca/

Sabor de Mallorca sells typical products from Mallorca’s various villages. Here you will find, among other things, quelitas, olives, sobrasada, ensaimadas, wines and beer.

 

http://vadebio.bio/es/#inicio

Vadebio offers organic products online where you can also order boxes with mixed products in three different sizes.

 

Johanna Andersson

Team Assistant @ Mallorcaresidencia

 

The last one out is Patrik Flyving, the most Majorcan of our sales people, who is super energetic and always at your service!

 

Why do you like Mallorca? 

I like Mallorca because the island has everything in a small scale, city, nature, mountain hiking, climbing, water sports, food and shopping.

Where do you live in Mallorca? 

I live in Palma and in Pollenca bay during summer.

What do you do in your spare time? 

In my spare time, I surf or spend time with my family.

Which is your favourite restaurant on the island? 

My favourite restaurant on the island is Las Terrazas Aucanada.

Which is your favourite beach?

S ‘Estanyol.

Which are the two best villages in Mallorca?

Two of the best villages in Mallorca are Alcudia old town and Puigpunient.

If I could invite someone to lunch it would be… both my Swedish and Spanish family at the same time.

My favourite place on the island is… Punta Avanzada in Pollenca bay.

Which is the best Spanish word?

“Hombre!” It can be used all the time, you just need to change the emphasis and it could mean different things.

The biggest challenge of living in Mallorca is… to live with my Spanish partner’s schedule.

Latest purchase?  

New windsurfing sails.

Life motto /Quote:

Go hard or go home!

Which are your favourite properties right now?

MF2124, MF2139 och MFP101B.

 

Mirlinda Jonuzi

Former Team Assistant @Mallorcaresidencia

In these times of social distancing or quarantine, one can easily start to feel the need to do something else after a few days of watching TV and surfing the web. We at Mallorcaresidencia understand the preoccupation that many feel about this situation and would like to give you our best advices on what can be done to entertain and keep the turmoil at bay from home. The limited opportunity to move freely outdoors has given rise to many creative online activities. Here are some of our tips on online activities:

Several of Palma’s yoga and Pilates studios offer online classes:

Earth yoga offers classes online through the app Zoom. The offer includes classes of Yoga Nidra, Kundalini / Meditation, Vinyasa Yoga among others. For more information see Earth Yoga Facebook page

Zunray Yoga studio offers classes online both for members and for those who wish to try an individual class, through their app. For more information see Zunray’s website.

 

Studio Aequus is a Pilates studio in Palma that works under the belief that physical problems and pains can be improved and in some cases can even disappear by a correct posture, awareness of the body and its movements under the guidance of professional instructors. During the quarantine period here in Spain, they will post daily training videos that can be viewed for free.

Museums with online tours

Many of the world’s most visited museums offer virtual visits.

Visit 12 museums online

In this collection of 12 museums from all over the world you can visit, among other museums, the Van Gogh Museum in Amsterdam, the Musée de Orsay in Paris with some of the most famous artists and works from the years 1848 to 1914. Among many other artists you can see works by Monet, Cézanne and Gauguin.

14 virtual online muesums

In this collection of 14 museums online you will find, among others, MoMa in New York with pieces from some of the most famous artists of the modern era such as Van Gogh and Picasso.

Courses online

Do you feel that you have the time and desire to learn something new while at home? Maybe you want to take the opportunity to upgrade your knowledge in your own field, or simply take this opportunity to start a new career? At Coursera.org you have access to courses from leading universities and companies.

Activities for the kids

Being at home with small kids for a long time can be a challenge. We have some tips that we would like to share with the parents that might help.

Singing with the Swedish Church

The Swedish church usually has weekly get-togethers for the children in the church, now that we can’t be there in person, they post videos with songs on their Facebook page.

Clan TV

For those who are Spanish speaking, the Spanish children’s channel Clan on TV has adapted their range both on TV and the app for the children who are home from school. In the morning, programs with educational content for the children are shown during the time the quarantine in Spain continues.

The children need a lot of activity, here we present some craft ideas that you can do at home with the children. There are also many sites online with activities such as gymnastics and yoga for kids.

Johanna Andersson

Team Assistant @Mallorcaresidencia

 

The fourth sales agent out is Magnus Nystedt, our Finnish-Swedish seller, who is always calm as a cucumber, always in a good mood and who loves to work out.

 

Why do you like Mallorca? 

I like Mallorca because it is such an incredibly versatile island. You can do so many different things on a small area; beaches, hiking, big city life, golf, cycling, vineyards, culture, etc.

Where do you live in Mallorca? 

I live in a house in Establiments where I can enjoy nature and tranquillity while having Palma centre around the corner.

What do you do in your spare time?

I spend time with my family, play padel and do functional training.

Which is your favourite restaurant on the island?

Casa Maruka and El Camino.

Which is your favourite beach?

Favourite beach would be Playa de Muro and Port de Valldemossa.

Which are the two best villages in Mallorca?

Alaro and Esporles.

If I could invite someone to lunch it would be … Biel at “Can Frau” in Santa Catalina market who is a great cook. He is always pampering me with his delicious food, just like a mom would do. If you haven’t been there as yet, I can warmly recommend it.

My favourite place on the island is… my home in Establiments.

Which is the best Spanish word? 

The best Spanish word is “vamos”.

The biggest challenge of living in Mallorca… is that sometimes things work very slowly, if you do not remind and “pester” people all the time.

Latest purchase?

A coffee.

Life motto/Quote:

Everything works out in the end!

Which are your favourite properties right now?

MF2138, MF2120 and MF2060.

 

Mirlinda Jonuzi

Former Team Assistant Team Assistant @ Mallorcaresidencia

 

The coworking trend which has been spread in the last ten years, it has also reached Palma de Mallorca. A lot of people from all over the world choose Mallorca as their base for their business too, or they  continue to work remotely. Below you can find our list for coworking spaces in Palma de Mallorca.

 

The Hub Mallorca

The Hub gives independent, entrepreneurial members a place to work, connect and thrive. It is  in the heart of the creative neighbourhood of Santa Catalina in Palma. The Hub provides flexible membership arrangements. By day the Hub is a space for members to work, meet others, concentrate. By night, it opens doors as a space to get away from the screens, use your hands, be creative and learn new skills.

 

Panteon House 

Panteon House is Santa Catalina’s premium shared workspace offering a contemporary work environment for demanding professionals. The office is overlooking Palma Tennis Club and is also close to many bars and restaurants in Santa Catalina. The workspace consists of  4 private rooms and 16 permanent desks. It also features amenities such as reception service and two fully equipped conference rooms.

 

Wohaby Mallorca

For Wohaby, coworking is something else, wants it to be a model of life and business, the place where you want to go to work. Not only because of the collaborative environment of these spaces, but because in Wohaby you are not a “tenant” but you are a member of the space.

 

Coworking Casa Planas 

It is located within the same Casa Planas Cultural Center, of more than 2000m2. Its 300m2 workspace is distributed over two floors. The design of the spaces offers all the functionality you need and you also have possibilities of using tools for engravings and lithographs, analog photography laboratory and screen printing workshop. You can also participate in Casa Planas events which give you the opportunity to network for your business.

 

Cómodo&Co Palma

Cómodo&Co has been based in Palma’s city centre since 2005. Cómodo&Co has a service of equipped offices in the Rambla – in the center of Palma. It offers flexible business- and workspace solutions. Additionally, it also offers solutions for virtual offices, hot-desking etc. Workspaces are separated by a soundproof panel and includes shelves and a locked cabinet. 

 

Nidus 39

Nidus 39 is way more than a coworking space. It is a flexible space adapted to your needs, located in the center of Palma de Mallorca and offering you an innovative array of services and resources to enhance opportunities and collaboration. Nidus 39 is a versatile spot where to create ideas, share projects, train and learn, organize events, hold workshops and business meetings, do photo shootings and  castings or make exhibitions and product presentations.

 

Sedat Senoglu

IT & Digital Marketing @ Mallorcaresidencia

 

 

 

The third sales agent out is Charlotte Magnusson who is our youngest but at the same time our most experienced agent, always caring for her customers.

 

Why do you like Mallorca?

I love Mallorca because it is an island that has everything! It offers a wonderful climate and nature, with a wonderfully relaxed lifestyle attitude. Having lived here for over 15 years, I am still in love with the island!

Where do you live in Mallorca?

In Soller with my partner and my two children.

What do you do in your spare time?

In my spare time, I enjoy spending time with my children, playing padel and tennis, hiking in the mountains, going out eating, inviting friends home for dinner and travelling.

Which is your favourite restaurant on the island?

My favourite restaurant on the island is so hard to say, because I only get to choose one and there are so many good restaurants! Mercat de San Juan is a place to recommend with good and varied food, good music and a nice atmosphere.

Which is your favourite beach?

Playa Es Caragol, on the southeast part of the island.

Which are the two best villages in Mallorca? 

Port de Soller and Soller.

If I could invite anyone to lunch it would be … my grandmother who passed away way too early when I was a kid and who I didn’t get to know so well.

My favourite place on the island is… the Tramuntana coast where we usually go out with the boat.

Which is the best Spanish word?

The best Spanish word is “Vale!”

The biggest challenge of living in Mallorca… is dealing with missing my family in Sweden!

Last purchase?

Presents on “Reyes” / the three kings (the Spanish Christmas) to my children.

Life motto/Quote:

Think positively and see things from the bright side!

 Which are your favourite properties right now?

MFP070A, MF2128, MFP011 and MFP087A.

 

Mirlinda Jonuzi

Former Team Assistant @ Mallorcaresidencia

 

The second sales agent out is Jan Hedengård, our own sports star and former volleyball pro who is always calm and friendly.

Why do you like Mallorca? “I like Mallorca because the light makes life easier. The fact that there are beaches and much more doesn’t make it any worse.”

Where do you live in Mallorca? “I live in Son Espanyolet, Palma.”

What do you do in your spare time? “In my spare time, I spend time with my family, drive our son to soccer / basketball and play padel.”

Which is your favourite restaurant on the island? “My favourite restaurant on the island is Bar Andaluz in Arenal.”

Which is your favourite beach? “Favourite beaches are Es Trenc, Playa de Muro and Paguera.”

Which are the two best villages in Mallorca? “Two best villages in Majorca? I do not have any particular favourites but the “classic villages” maybe, Deia, Fornalutx and Banyalbufar.”

If I could invite someone to lunch it would be…… “Michael Jordan or some random homeless person.”

My favourite place on the island would be….. “Palma, with everything offered here, and a typical tourist beach such as Arenal or Palmanova, in winter.”

Which is the best Spanish word? “The best Spanish expression is “ya hablamos”.

The biggest challenge of living in Mallorca is…. “nothing in particular, except maybe the fact that Mallorca is an expensive island and that it is far from where most of my friends live.”

Latest purchase….. “the padel racket ”Bela-X”.

Life motto/Quote: …from an old coach and friend – “Never be surprised!”

Which are your favourite properties right now? MF1873, MFP070C, MF2096, MF2042 and MF2092. All amazing properties in different price ranges!

 

Mirlinda Jonuzi

Mallorcaresidencia @ Team Assistant

When you sell, or buy property in Spain, you will come across words that are used extensively and which could be good to master. Below you will find a selection of the ones that we think are the most important to know.

Catastro – The Cadastre is an entity attached to the Ministry of Finance. This body functions as the administrative registry of each and every property in Spain. The Cadastre would be used to indicate the indications of any property, but cannot confirm the ownership of this. The main function is to act as a base for taxes such as IBI, Inheritance and Gift Tax or Transfer Tax.

 

Registro de la Propiedad – The Land Registry is an entity attached to the Ministry of Justice. This body confirms the ownership or who is the owner of any property that is registered in this register. The big difference between the Cadastre and the Land Registry is the latter one shows the ownership of a house or property. Therefore, the prevailing entity is the Land Registry. If you see that there are differences in surface areas between the Cadastre and the Registry, you should ask the Cadastre to make the necessary modifications.

Nota simple – Is a document issued by the Land Registry in order to provide the essential information contained in the Register on a specific property, such as who owns the property, any associated charges or encumbrances and any limitations of use it may have.

 

Ayuntamiento – The municipality is the corporation formed by the mayor and the councillors who are in charge of the political administration of a municipality. Its main functions are to attend and propose to the town hall sessions the measures they deem most appropriate to address municipal affairs. They issue the land rates and refuse receipts.

Notario público – Notaries are State civil servants required to provide citizens with the legal certainty within the context of extra-judicial legal dealings. They are also legal professionals practising under the rules of competition. This dual status guarantees their independence. In the exercise of his/her function, he/she draws up two generic types of documents, namely the Deeds and the Minutes. The Deed is the original instrument in which the notary records one or more legal acts (contracts, agreements, wills, unilateral declarations of will, etc.).

Escritura/Copia simple – “Escritura” is a notarial instrument and public document in which before a notary public a certain fact or a right authorised by said notary public is performed, which he/she signs with the grantor or grantors, showing about the legal capacity of the content and the date in which it was performed. The public deed when selling or purchasing a property is always signed with a notary for example. “Nota simple” or the authentic copy is a public document signed by the Notary with the same value and effects as the public deeds or matrix.

 

Cédula de habitabilidad – The certificate of habitability is the administrative document that ratifies that a dwelling meets the basic conditions to be inhabited, that it is fit to be destined for human residence, without prejudice to the fact that other duly authorised activities are carried out in it. It is obligatory when renting and selling a house.

 

 

CEE – (Certificado de Eficiencia Energética) The Energy Efficiency Certificate is a document required by the Ministry of Industry, Energy and Tourism for all housing to be rented or purchased by another person. This measure aims to achieve an energy improvement in all countries of the European Union. The energy certificate is mandatory in Spain from June 1, 2013 in order to rent or sell a property or business unit.

IBI – ( Impuesto sobre Bienes Inmuebles) The land rates tax paid once every year. (see more in our blog Spanish taxes for non-resident property owners https://mallorcaresidencia.com/news/)

Basuras – The refuse tax normally paid once a year. (see more in our blog Spanish taxes for non-resident property owners https://mallorcaresidencia.com/news/)

Endesa – It is one of the three largest companies in the electricity sector in Spain. Endesa generates, distributes and markets electricity and natural gas.

Referencia catastral – The cadastral reference is the official and obligatory identifier of real estate. It consists of an alphanumeric code that is assigned by the Cadastre so that every property must have a unique cadastral reference that allows it to be placed unequivocally in the cadastral cartography.

Valor catastral – The cadastral value is an administrative value objectively determined for each real estate from the data that exist in the real estate cadastre and that is integrated by the cadastral value of the land and the cadastral value of the constructions art.

IRPF – (Impuesto sobre la Renta de las Personas Físicas) is a progressive and direct personal tax levied on the income obtained in a calendar year by residents in Spain. Thus, it is a tax figure belonging to the Spanish tax system.

IRNR– (Impuesto sobre la Renta de No Residentes) The people who must pay this tax are individuals who have obtained income in Spain even if their tax residence is not in the country, for example, the income from real estate in Spanish territory, in other words, the money that may come from renting housing, among others. Model 210.

 

Agencia Tributaria (AEAT) – The Spanish Tax Authorities.

IVA – (Impuesto sobre el Valor Añadido) Is the VAT. It is paid when the property is delivered for the first time. First delivery” is understood to be those acquired from the developer after the construction of the property.

ITP – (Impuesto de Transmissiones Patrimoniales) – The tax only applies to the purchase of a second-hand home between private individuals. Its declaration is made through the 600 form, with a tax rate and tax benefits determined by each community.

Plusvalía – Is a tax under Spain’s local tax system which is levied on the increase in the value of urban land revealed at the time of transfer. It is the profit obtained as the result of a positive difference between the price at which a property was purchased and the price of its sale in an economic transaction or operation.

 

ITE – Inspección Técnica de Edificaciones It is the technical inspection of buildings is the inspection through which every building with a certain age has to pass in order to assess whether it meets all the safety requirements. This inspection must be carried out by a qualified technician who may be an architect or quantity surveyor. If the professional in charge of carrying out the inspection certifies that the building remains in good condition and meets all the necessary safety conditions, the ITE will be approved.

Comunidad de propietarios – Community of owners.

 

Gestoría – Is a company that offers administration management services to companies and self-employed. Every agency is managed, at least, by an administrative manager accredited by a professional association. They offer services such as dealing with your tax return in Spain, labour procedures, management of the accounting and invoicing of a business, management of the setting up of a company and much more.

 

 

 

 

 

Mirlinda Jonuzi

Team Assistant @ Mallorcaresidencia

 

 

 

The small village of Galilea is beautifully situated in the mountains in the southeast of Mallorca, between Puigpunyent and Capdellá. The village breathes a unique tranquility and the view is, to say the least, impressive from its 460 m above sea level. From here you can see the sea and the mountain Galatzo in the background.

 

 

The roads that take us to this picturesque village are small, curvy and despite the isolated and quiet location, the distance to Palma is only 18 km. About 300 people live in Galilea, many of them foreigners. The surrounding mountains are popular hiking trails and many stop in Galilea after the hikes to eat or to have something to drink. The cyclists who are brave enough to challenge the curvy roads, also find their way here. One of the most popular places in the village is the church which has a beautiful view. On the square by the church you will also find one of the few restaurants in the village.

 

 

Galilea is best known for its beautiful surrounding nature and views. For markets you can visit the nearby village of Calviá on Mondays, otherwise you will find a basic supply of food in Galilea. A perfect village for enjoying nature and tranquility!