Palma Apartment
The Brief
- 2 bedroom, 2 bathroom apartment
- Outside space essential
- Walking to facilities
- Prepared to do some work though not major renovation
The challenges
- Outside space in the city comes at a premium & the Spanish crave it as much as you do
- Community roof terraces (shared with all the owners within the same block) can turn out to be tidy, pleasant areas to sit, with a defined area for laundry lines and neat lock-up stores or junk yards with aerials and clanky AC units
- Palma “Casco Antiguo” (old city) is atmospheric but its buildings in the narrow streets often lack light
- Renovated apartments in old buildings are highly sought after and any period features such as wooden beams, original tiled floors or Mallorquin “winter balconies” bump up the asking price.
- The market at the time was moving rapidly with unprecedented interest from “Euro Commuters”, especially younger buyers wanting to get a foot on the overseas property ladder
The search
Mary Foxcroft wanted an apartment for the summer which gave us 7 weeks to scan the market. She had looked online & been inundated with property details but usually there were no photos of the building.
We discussed the pros & cons of various city districts & recommended the Avenidas zone (the zig zag peripheral road surrounding inner Palma) and slightly beyond, as well as Santa Catalina (west of Avenida Argentina).
A penthouse was not out of the question, but it would have to be on the 4th or 5th floor without a lift so this was ruled out. We sent Mary 7 possibilities which we then viewed together over 2 days. The appointment for the last one was made just 30 minutes before a Spanish couple who were viewing it for the third time. This renovated apartment was a dream – a great location in a quiet street off the Ramblas, with all its flower sellers, near the city market in Plaza Olivar & ten minutes’ walk to the beach! Packed with traditional features, it had a sunny, private patio at the back.
The Result
Realising that we could lose the property within the next hour, we acted like lightening to secure it with a reservation deposit – this is not the normal procedure in Mallorca but it bought valuable time.
Mary was introduced to an English speaking lawyer to arrange power of attorney & following completion was recommended a local insurance company, a builder’s quote for installation of additional reverse cycle heating units & English speaking guardiennage.
Other Case Studies
THE PUERTO ANDRATX PUZZLE
- Client looking for a holiday property with three bedrooms, pool & AAA sea view
- The only location in consideration was Puerto Andratx
- Prepared for minor renovation work
Investment Property
- Clients looking to sell their rental property portfolio in the Netherlands to reinvest in Mallorca
- Any property needing renovation/upgrading, in the right location to attract buyers for resale
- Any location on the island