Existing properties are a great thing: the land and the house are already there and actually
only a refurbishment. But appearances are sometimes deceptive.
Mallorca's properties are rare and expensive, which is why many investors prefer existing properties. This raises the question: is it worth renovating, extensively refurbishing or is demolition followed by a new build more sensible?
Since the pandemic, construction, renovation and expansion projects on the island have been stepped up again and the construction industry has exceeded pre-crisis levels. Nevertheless, there is a shortage of housing on the island, which is reflected in high rental prices. This is also affecting the availability of workers in the construction industry. Due to the shortage of building land, many private investors are acquiring existing properties either to renovate them or to demolish and rebuild them. This situation is both unsatisfactory and costly.
It is important to consider whether renovation makes sense or whether demolition and subsequent new construction is the better choice. Caution is advised with properties on the coast, as the new regulations restrict building on protected land. In some cases, however, new construction is recommended because the existing building does not have the required building quality or cannot be renovated.
Experts therefore advise customers to carry out a thorough inspection before buying a property and to check the local authority's plans. They should also find out about urban planning files, which are important when applying for planning permission. Humidity and climatic conditions place special demands on construction in Mallorca. For properties near the sea, special materials must be used to withstand the weather conditions.
The political and economic situation is still causing delays in supply chains, material price increases and staffing problems. However, despite the challenges, the industry still expects the construction sector on the island to develop positively overall. In order to successfully complete a construction project, it is always advisable to draw up a timetable for applications and approvals and to make good use of the waiting time to prepare the execution project. However, unexpected surprises can also occur during renovation projects, such as poor building fabric, which can lead to delays and considerable cost increases. In such cases, demolition and subsequent new construction could be the better solution. A thorough preliminary inspection of the property in question is therefore of great importance.
For future building owners, it is advisable to take other aspects into account. This includes working with experienced professionals, architects and specialists who can assist with the planning, approval and implementation of construction projects. Construction and renovation work takes different amounts of time. While an average renovation takes around six to ten months, a new build can take between twelve and 18 months.The municipalities also play an important role in the approval and implementation of construction projects. Some municipalities, such as Calvià, have noise protection regulations that can restrict the execution of construction work at certain times and slow down the project.
Finally, it is important to make the right decision between renovation and new build and to plan all the necessary steps carefully. With the support of experts, builders can ensure that their projects are realized successfully and without any bad surprises. This results in modern and contemporary residential properties on Mallorca that meet both the needs of the residents and the demanding climatic conditions.
