Page 8 - David Burr Rooftops Winter/Spring 2021/2022

The overseas market with Paul Baxter
S’Arraco village near Puerto Andratx, SW Mallorca (above)
Exceptionally beautiful Finca with pool and Mediterranean garden in this delightful village located just outside Puerto Andratx.
Bedrooms: 3 Bathrooms: 3 Living: 217m2 Plot: 11,306m2
This beautiful and authentic Finca has been fully renovated with great care to the highest standard whereby the interior design is in total harmony with the Majorcan architecture. The property includes a spacious ‘open-plan’ living/dining area with feature fireplace and an adjacent fully fitted and equipped kitchen with separate laundry. The 3 bedrooms suites have built-in wardrobes, and each has a bathroom en suite.
The mature gardens are thoughtfully landscaped and stocked with many flowers and native plants including several terraces and a large private swimming pool. There are wonderful panoramic views of the surrounding countryside from all levels, including the roof terrace.
The location is excellent and offers a lot of privacy and yet Puerto Andratx can be reached in less than 10 minutes by car.
Garage plus parking for several cars. Double glazed windows. Air- conditioning throughout. Heating. Satellite TV. Security Alarm system. Ample storage space.
Guide Price: 2,200,000 euros
8
The Covid virus restrictions for early months of Covid, top draw sea front
travel to and from Europe over the past 18 months have been frustrating and expensive for UK travellers to popular
European destinations. It has significantly reduced visitor numbers distorting the property market.
Vendors have been reluctant to come to market, knowing that physical viewings are difficult, and created a shortage of new property instructions in most areas. Improved technology has aided virtual tours for prospective buyers, however, unlike buying a property locally, you cannot do a ‘drive by’ viewing to get a feel for the surrounding area. Drones have helped, but nothing can replace a physical viewing.
Many UK owners of overseas properties have opted to stay in the UK this summer but there has been a noticeable change recently as countries open up and travel costs come down. Hotel occupancy levels vary, but I understand they are currently around 40% to 50%, a far cry from normal levels for peak season.
This increased activity has led to upward pressure on prices in areas where the rules have been eased and the continuing shortage of quality properties for sale. For some, the enforced stay at home during the pandemic has enabled them to increase their savings. This, combined with very low mortgage rates, has provided them with greater purchasing power.
Whilst there was a drop in values in the
apartments and villas with spectacular sea views in the most popular areas of Mallorca and the Cote d’Azur, have seen a price increases of between 18% and 29% over the last 2 years. Sales in country areas, such as Son Vida (an exclusive golf estate within the environs of Palma), Santa Maria and Alaró towards Mallorca’s centre, and the Dordogne in SW France have seen a downward price adjustment of between 5% and 7.5% over the same period. The positive side of this is that there is an excellent and varied range of superb properties, including some rarely seen Fincas and Estates, currently available for sale.
In my experience, with over 30 years in property sales, initially in the UK and the latter 20 years in overseas sales, whatever the market conditions high-quality, prime location properties attract the most demand and their country cousins, albeit slower to react, inevitably catch up.
Whilst I am now principally based in Mallorca, reports from my associate agents across Europe, including Southern France, Mainland Spain, Tuscany and Italy’s West Coast and my neighbouring Balearic Islands, are all experiencing similar market conditions. As the Covid pandemic looks like it’s going to be with us for some time, a second home on the Mediterranean coast or country might be an ideal escape.
Paul Baxter Tel: +44 20 7839 0888 Email: paul@tlo.co.uk