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What is it like living in Mallorca?

Posted by Co-Ownership Property on 08/24/2023

Living in the Balearic Islands

The Balearic Islands are made up of four main islands: Mallorca, Menorca, Ibiza, and Formentera, as well as a smaller island, La Cabrera. These are places known for their coves with crystal clear waters, charming towns, and festive atmosphere. Menorca and Formentera are especially quiet and maintain a protected natural environment.

Why choose Mallorca to buy a property?

Covering 3,640.11 square kilometres, Mallorca is a Spanish island located in the Mediterranean Sea and is part of the Balearic archipelago. It’s a popular tourist destination known for its beautiful beaches, coves, mountains, and villages.

Some of the most notable places on the island include the Cathedral of Mallorca, the Caves of Drach, and the Bellver Castle. Mallorca also offers a wide range of activities and experiences, such as hiking, cycling, golf, diving, snorkelling, sailing, and gastronomy.

To determine which area of Mallorca is best for living, here’s what each place on the island has to offer:

  • If you’re looking for a broad cultural and commercial offering in a cosmopolitan setting, Palma de Mallorca is for you.
  • If you prefer nature, head to Puerto de Sóller, a charming coastal town with a bay and sandy beach.
  • If you’re leaning towards a quintessential residential area sought after by tourists, your spot is Santa Ponsa, located in the southwest of the island. It has a beach, a marina, several golf courses, and a wide range of services.

The weather in Mallorca is typical of Mediterranean areas. However, there are some differences between the north and the south of the island due to the influence of the topography and winds. The southern area tends to be warmer and drier than the north, influenced by the African wind. In the north, you’ll notice more breeze and humidity, resulting in cooler nights and a more mountainous and green landscape.

Find apartments and houses for sale with fractional ownership in Mallorca here.

The average price of houses for sale in Mallorca is 3,787 euros per square meter but for exclusive properties, it can be much higher.

The Rise of Fractional Ownership in the Age of Rental Restrictions

As global real estate markets evolve, so too does the way we approach property ownership and investment. For many property owners, the once-lucrative avenue of letting properties for rental income has become fraught with challenges in Mallorca. With increasing restrictions on letting, the outright ban in many areas, and the soaring costs of tourist licenses, traditional rental strategies are no longer viable for the majority. Enter fractional ownership, a modern solution to this evolving challenge. Fractional ownership allows multiple owners to share the costs and benefits of a single property, bypassing the need for rentals entirely (and even mortgage). Not only does this approach ensure that the property is used and enjoyed, but it also distributes the financial burdens and provides a feasible alternative in a market where traditional letting is becoming untenable. In such times, fractional ownership isn’t just an option; it’s an innovative pathway to smart property investment.

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