New builds in Palma
City on the map
Palma or Palma de Mallorca is a resort town-port of Spain, located in the Mediterranean Sea in the Bay of Palma on the island of Mallorca in the Balearic archipelago.
Why is it especially profitable to buy an apartment in a new build of Palma de Mallorca?
Palma de Mallorca is an ancient and superbly preserved city, especially in the old part, where there are many attractions worthy of attention of tourists. The island has long been chosen by world celebrities, even the royal family of Spain has a summer residence here.
The narrow old streets with a calm flow of life are a great place to relax after the busy resort areas of the beach strip. It is located on the southern coast of the island among incredibly beautiful coves and sandy beaches, which are adjacent to pine forests and mountain ranges. Both in the capital itself and in its vicinity there are other world-famous resorts: El Arenal, Palma Nova, Magaluf.
The city also has its own industry, which brings a significant share of income: weaving factories, enterprises for the production of silk, furniture, musical instruments, and artificial pearls. There is flour and butter production as well.
Education and art are also at a decent level. There is an institute with long-standing traditions, a teacher's seminary, an academy of arts, a music school, two public libraries and a theater for connoisseurs of art and knowledge.
The transport infrastructure maintains all high standards for a city with such a huge and geographically wide tourist flow. The local airport is considered one of the largest in Europe. The city is only 8 km from the airport. Ferries from mainland Europe and the neighboring islands of the Balearic archipelago arrive at the island's capital. In 2007, a subway opened, buses operate on numerous routes, and it is planned to build a tram line.
The nature has given the city a Mediterranean climate with hot, sunny summers and mild winters. The weather remains pleasant throughout the year.
Lack of own drinking water is a sensitive problem. It has to be mined and imported, which creates certain obstacles for the even faster development of the city and the island as a whole.
Investing in real estate in a new build for sale is a good choice in order to generate income from renting or resale. Residential complexes in Palma de Mallorca are very popular. The demand is supported by a developed resort network: there is a large number of first-class marinas, hotels, restaurants, large shopping centers, shops, international schools, museums, banks, golf courses, tennis courts and more.
Considering that the investors are wealthy people, including foreigners: Germans, British, French, Swiss, Scandinavians, a lot of luxury housing is being sold on the island. There is particular interest in modern villas with sea or mountain views. The development of the real estate market is facilitated by the abolition of the tax for yachts of a certain length, the action of the Golden Visa program for home buyers in the amount of at least 500 thousand euros. A residential property with a private pier can be bought at a price significantly cheaper than on the French Riviera or in Monaco.
The sale of apartments from developers is carried out in black frame condition and on turnkey basis. The proper quality is confirmed by customer reviews. The range of primary housing is diverse, new homes for sale in Palma de Mallorca from the developers are made using modern technologies.
It is possible to buy an apartment from a developer in Palma de Mallorca at a relatively inexpensive cost, taking into account the status of a fashionable Mediterranean resort. The minimum price per square meter of area, completed in black frame condition (in accordance with the information of the GEOLN.COM search engine) is 2,700$.
Acquisition of an apartment in Palma de Mallorca from a developer by foreign citizens
Foreigners can buy housing in the new homes freely. There are no restrictions or special conditions in this regard.
Highlights of the city
- Almudaina Palace;
- Bellver Castle of the 16th century;
- Park-reserve Mondrago;
- Puig de Galatzo nature reserve;
- Arab baths;
- Boulevard Paseo del Born;
- Palma Cathedral.
Yachting, diving, golf, tennis, cycling and hiking are well developed on the island; international festivals and wine fairs are regularly held.
Purchasing an apartment in a new development of Palma de Mallorca is an investment in a piece of paradise, one of the most prestigious resorts in the Mediterranean, extremely popular among the tourists, which will bring significant rental income or income from further resale (if the desire to resell ever arises).