The beautiful Balearic bubble
WITH Spain poised to need a bailout, is this a foolish time to think about buying a dream home in Mallorca, Ibiza or Menorca? Not necessarily. Michael Cunnington, of MJC Associates, the Savills Agents in Mallorca, says: “The honest answer is that we still have traffic and people inquiring in the top end but buyers are very aware of the situation and are looking to make a good deal.” Cunnington admits it’s a tough market, and this means that some of the sellers are open to negotiation.
More incentive for buyers is a new Spanish tax law, introduced on 12 May, which halves capital gains tax owed on any property bought before the end of 2012.
With or without economic strife, Cunnington says that homes on the islands are just as gorgeous but “much cheaper” than their equivalents on, say, the Cote D’Azur. And with a new direct British Airways flight from City Airport to Menorca, there are still more ways to get down to those sunny islands.
Son Vida, Mallorca, €10m
A contemporary seven bedroom villa, situated on a large elevated plot securing uninterrupted panoramic views of Palma and surrounding mountains from nearly every room.
Through Aylesford International: 020 7349 5100
Cala Vinas, Mallorca, €5.65m
With 11 bedrooms, nine bathrooms and four receptions, this is a beautiful, sprawling classic villa with direct access to the sea. Through Chesterton Humberts: 020 3040 8210
Cala Llonga, Menorca, €5.25m
A unique and luxurious villa of 969 sq m with panoramic views of the Port of Mahon. Built eight years ago to an exceptional standard with quality finishes and many extras (including a wine cellar), this gorgeous seven-bedroom home is one of the best on the island. Through MJC for Savills: +34 971 57 99 57
Es Cubells, Ibiza, €2.7m
This luxury designer villa has spectacular panoramic views over the valley below onto Es Cubells and the ocean beyond.
It boasts beautiful stone floors, clean lines and wide open spaces. Through Aylesford International: 020 7349 5100