Building land is becoming increasingly scarce on Mallorca. Prices are correspondingly high.
Mallorca is an island whose geographical boundaries are limited by nature. This becomes apparent at the latest when you are looking for a suitable building plot on the island. The supply, which is becoming increasingly scarce due to stricter regulations and the ongoing expansion of nature conservation areas, is being offset by demand, which has been growing for years. „The demand for building land remains high compared to the previous year“, says Marcus Dreher, independent building surveyor and valuator on Mallorca. „The most popular building plots at the moment are those with a full building license, if possible with a completed and approved building project. This means that construction of the property can begin immediately after purchasing the plot“.
According to Dreher, there is still good building land, especially in the interior of the island and on the east coast. However, caution should always be exercised when choosing. It is always advisable to check in advance whether all licenses, legal requirements and certificates are actually available for the building land in question," says Marcus Dreher. Reason: „There are still plots of land being offered on the open market in Mallorca on which the construction of buildings is impossible, or is simply not permitted due to the current legal situation“.
As far as the price trend for new builds on the island is concerned, there is no clear index, as is the case with prices for existing properties. „The price trend for converted space continues to rise steadily. The majority of new-build projects are being traded at a price per square meter of 2,000 to 3,000 euros. In the high-end segment, however, the price can be as high as 6,000 to 8,000 euros. The number of construction projects in the high double-digit million euro range is currently increasing noticeably and is also not uncommon," says Dreher.
In addition to the necessary money, builders in Mallorca also need patience. „Here you should definitely not put yourself under pressure, two to three years construction time is not uncommon“, says Marcus Dreher. It is also important that builders have a reliable, reputable and competent partner at their side who takes care of all formalities and issues independently and can therefore ensure that all stages of construction run smoothly.
The constantly changing building regulations and requirements in Mallorca must also be taken into account. In Spain, the
The responsibilities of building law are spread across different levels and bodies. On the one hand, responsibility for regulating public building law lies with the respective state governments of the autonomous regions. On the other hand, each municipality in Spain is responsible for drawing up its own building planning standards. The same applies to the issuing of building permits (licencias urbanísticas), which is also the responsibility of the local authorities.
Andreas John
