„Son Vida exudes international glamour and is popular both with families and with golfers.” Gabriela Muñoz Managing Partner of Engel & Völkers Palma Surroundings & Son Vida 22 years in Mallorca and 14 years with Engel & Völkers The appeal of Son Vida, Palma’s most exclusive district, The number of property transactions has almost doubled lies partly in its first-class infrastructure: three golf in the last five years. There has been a similar increase in courses, an international school, top hotels and proximity the transaction volume, which has risen from about 110 to the city centre and the airport. Many of those who own million euros five years ago to a forecast result of 210 a property in Son Vida and the surrounding villages are million euros. Modern and traditional properties sell in golfers or families with children. equal proportions, with newer properties fetching higher prices. Buyers are mainly German, British and Swiss, with growing interest from France and the Scandinavian Number of Real Estate Transactions and Arab countries. and Real Estate Transaction Volume 1,400 300 M But it also true that there is no such thing as an unsaleable property in Son Vida, and the surrounding areas – such 1,200 250 M as the traditional villages of Establiments, Esporles and Puigpunyent – are becoming ever more popular. The 1,000 200 M average time taken to sell a modern property is six to nine months; for other existing properties the process can 800 150 M take up to two years. Payment does not usually involve external financing. Houses close to the golf courses and/or 600 100 M with a sea view are particularly sought-after; a swimming pool and a luxurious garden are also important points in 400 50 M the requirements profile. The current new-build projects are one of the features that illustrate the region’s further development potential. Eighteen new houses aimed at the medium price segment Number of Transactions Transaction Volume Prognosis are being built in Son Vida. This helps to ensure that all Figure 10: Real Estate Market – Palma Surroundings & Son Vida, Ministerio de Fomentoprospective buyers can be catered for. EUR stinU 20142015201620172018