21 Oct 2021
Tags: Engel & Völkers Mallorca, New Construction Mallorca, New Developments Majorca, Designer apartments Palma, Designer villas Port Andratx, Off-plan country houses, Parallel Bonanova, Amber Village, Can Santacilia Palma, OHLAB, Esteva i Esteva
Award-winning Mallorquin architects focus on sustainable projects
Price range from 595,000 euros - 2.775 million euros
Prop tech tools increasingly important for virtual viewings
The new development segment of Mallorca's real estate market is booming with steady high consumer demand. This is underlined in published statistics by the Ministerio del Fomento on newly constructed property in The Balearics. The latest figures indicate that the total sales transaction volume in the region has more than doubled in the first and second quarters to 390 million euros in 2021 from 190 million euros in 2019 for the same period. Even last year during the pandemic, the total sales transaction increased slightly to 212 million euros in the first and second quarters.
This is a dynamic sector of the real estate market with strong interest from overseas buyers, and The Balearics has emerged as one of the top property destinations for overseas investors in Spain and the Mediterranean with principal interest from Germany, the UK, France, the Netherlands, Sweden. Switzerland and Austria.
Says Hans Lenz, Managing Director Engel & Völkers Mallorca Southwest: “Due to the sheer lack of land for construction, developers have focused on building high-quality luxury real estate with top Mallorquin architects that add tremendous style and prestige to each project.
Since the peak of new development construction in 2007 when some 11,830 licences were granted in the Balearics, building costs have tripled mainly due to the use of high-quality materials. Subsequently, new construction has an added market value of at least 10% on the final listed price plus other factors such as the substantial use of sustainable, environmentally-friendly technology with innovative architecture and design that further impacts the value”.
Engel & Völkers Mallorca Southwest with over 30 years of expertise on the island is leading two “stand-out” new developments with award-winning local architects, Tomeu Esteva of Esteva i Esteva and Jaime Oliver of OHLAB who are focusing their international expertise on two highly individual projects: Amber Village located on a hillside position overlooking Port Andratx, and Parallel in Bonanova on the outskirts of the city overlooking Palma.
The focus on contemporary modern architecture with Mediterranean details (such as dry-stone walls with local stone, wood detailing, and window shutters) has become popular with standard features such as underfloor heating, designer bathrooms, and kitchens plus the latest technology to meet the demands of the international investor.
In contrast, more developers are now looking at central locations in the rural heart of the island near traditional villages with views to the Sierra Tramuntana Mountains to build “one-off” modern country houses with stunning contemporary designs.
Says, Christina Deutsch, Managing Partner, Engel & Völkers Mallorca Central & South; “In the past few years, the attraction of village locations for new off-plan projects has been a growing trend for developers. As plots become increasingly difficult to find, developers have been investing inland for new opportunities.
In the traditional wine-growing areas of Binissalem, Binali, and Sencelles, all located within 30 minutes drive of Palma, with good road connections and wonderful views across the mountains, a handful of new projects are now being planned over the next two years. In the south locations such as the traditional town of Llucmajor is an area with strong potential that offers a variety of restaurants, facilities and a local market and has easy access to the coast, Palma International Airport, and the capital”, says Deutsch.
In Palma's old town Can Santacila is the redevelopment of a 16th-century manor house that is nearing completion, comments Terence Panton, Managing Partner, Engel & Völkers Palma Centre, and East; “This is a rare opportunity for buyers to invest in superb contemporary design within a unique historic building with all the modern-day comforts and facilities which are difficult to find in the centre of the old town. As an established year-round destination, Palma has a superb cultural offering and lively social agenda with restaurants, shopping and a range of sports facilities which underlines the attraction for investors from all over Europe”.
Virtual Viewings
In the current climate, prop-tech tools have become increasingly useful to provide potential buyers with the first impression of off-plan projects. High-quality renders combined with drone shots of the location and the latest high-performance animation technology have become increasingly sophisticated.
In the case of the Amber Village development, the client can book a LIVE virtual tour and immerse him/herself in a virtual tour to get a true impression of the residential complex and the houses and get a feel of the size, layout, and special features. They can also question the virtual tour presenter and agent from the comfort of their sofa in a compelling bi-directional tour that is totally flexible and customised to the clients' needs.
Amber Village, Puerto Andratx
Located in Puerto Andratx and within easy reach of sports facilities, beaches and Palma's International Airport, Amber Village features 24 houses with 3 bedrooms and 2-3 bathrooms on an elevated southeast/east-facing plot with magnificent views across the Sierra Tramuntana Mountains, Puerto Andratx and its traditional fishing harbour below. Designed by Mallorca's internationally renowned architects Esteva i Esteva, with their trademark-style that harmonises the construction within the environment of each project they undertake from Mallorca and across the world.
Comments Tomeu Esteva; “Amber Village is in an area where the rocks and mountains envelop and surround the area and provide a kind of natural seclusion at the back of each house. All the rooms have cross ventilation and south-eastern orientation, which makes the most of the morning sun.
The whole project has been conceived in an organic, natural way to ensure that the development merges into the surrounding landscape. To achieve this, we have selected certain materials, tones and colours that blend harmoniously with the surrounding natural environment”:
Each house has a constructed area of 241 – 276 square metres and is built on 4 levels with a garage in the basement level. The ground floor features a garden, 3 bedrooms and 2-3 bathrooms, on the first floor the main living space opens into a spacious salon/dining area with views and an open kitchen leading to terraces for alfresco dining. An elevator connects all the floors right up to the spectacular roof terrace with its own plunge pool and views. Mediterranean gardens and a spectacular infinity pool complete the communal areas. Amber Village is exclusively listed with Engel & Völkers, the price of a 3 bed-house starts at 1.880 million euros to 2,350 million euros, with a scheduled completion date of end 2022. https://www.engelvoelkers.com/en-es/property/amber-village-newly-built-houses-with-harbour-views-book-your-live-tour-2176795350.42_exp/
Parallel, Bonanova
Located high above Palma on the outskirts of the centre with easy access to international schools, beaches, sports facilities, shopping, restaurants, and Palma's International Airport is only 15 minutes' drive away.
Parallel comprises 12 residences within two buildings; Parallel East with 4 apartments and 2 duplex penthouses and Parallel West with 6 duplex apartments all with their own private pools that are either located in the garden or on the rooftop terrace. The penthouses in both buildings offer great sea views.
There is a communal gymnasium in each building and a community pool in Parallel East. In Parallel West, the 2 bedroom/2 bathroom apartments range from a constructed area of 106 square metres increasing to 227 square metres for the penthouse duplex with 4 bedrooms and 5 bathrooms in Parallel East where the smallest apartment has 101 square metres constructed area plus a large terrace and garden for an asking price of 760,000 euros.
The principles of eco-design have been paramount in reducing the project's impact on its surroundings. Comments Jaime Oliver of OHLAB; “Parallel has been designed for maximum energy efficiency with a very low demand for heating and cooling compared to a conventional building”.
Architecturally, the buildings are constructed to be both sustainable and energy-efficient: the main facades are designed with an outer layer of sleek wooden blinds inspired by traditional Mediterranean latticework. This contemporary and eye-catching solution ensures both privacy as well as creating a constantly changing play of light and shadow within each home. Following a smart design principle, these blinds can change their position according to the season, sliding from vertical to horizontal, depending on the desired amount of sunlight.
Materials include natural island stone and earth tones that provide texture and warmth. Hydraulic tiles in soft tones, spacious cement sinks and wooden oak floors create a combination of textures in the bathrooms. Prices start from 760,000 euros for a 2-bed apartment increasing to 2.775 million euros for a penthouse duple. Completion is scheduled for the end of 2021:
New off-plan country houses: Portól (central). This modern take on a rural house, designed by a local developer, is one of three individual residences that incorporate traditional Mallorquin detailing with wide-open spaces and views to Palma only 15 minutes drive away. Scheduled for completion autumn 2022, this house is on the market for 1.35 million euros.
https://mallorcasouthwest.com/en/mallorca-property/new-development-luxury-house-in-portol
Montuiri. A unique “one-off” new construction in a private location with views across the village of Montuiri and the Randa Mountain. This large contemporary style finca will be completely self-sufficient. The scheduled completion date is spring 2022 and it is on the market for 2.190 million euros.
https://mallorcasouthwest.com/en/mallorca-property/modern-finca-under-construction-in-montuiri
Can Santacilia, Palma -The architectural practice OHLAB has created 16 spectacular residences in Can Santacilia designed around a magnificent central courtyard. The communal areas also feature an indoor swimming pool and gym and all the residents have their own parking. The project is scheduled to finish at the end of 2021. Prices start at 595,000 euros for a one-bedroom apartment increasing to 2.7 million euros for a 3 bedroom penthouse with a terrace.
The Engel & Völkers Mallorca Developments Services Division was created over five years ago to specifically focus on off-plan projects not only to market and sell, but also to collaborate with developers from the initial stages by passing on their expertise and provide valuable insights on regarding the demands and trends of potential buyers. Currently, the division is handling around 30 projects in Mallorca, with a total sales volume of approximately 750 million euros.
Further information: https://www.engelvoelkers.com/en-es/majorca/southwest/