With requests for Mediterranean-front property outweighing inland by a huge ratio of five to one, premium prices are commanded and paid.
Stephen Dight, Managing Director of Mallorca Sotheby's International Realty, comments:
"Mallorca Sotheby's International Realty is far from your 'average' estate agent and we really only deal with top end clients who have fantastic budgets and can afford the very best - and the very best in Mallorca is a sea front home.
"For this reason there's a vast chasm between coastal and inland prices. Whilst you may pay nine million euros for a 900m² property on a 4,500m² plot in a prestigious seafront location, you could have a charming 475m² property on a mammoth 25,500m² countryside plot within 20 minutes of the capital, Palma, for less than a third of the cost, 2.85 million euros."
The Mediterranean is key to Mallorca's appeal. Much of its tourism, economy and lifestyle are centred on the coastline.
The Island is renowned as both a cruise ship stop-off and a hub for the luxury yachting industry with several prestigious marinas including 475-berth Port Andratx, the setting for Mallorca Sotheby's HQ, and 670-berth Puerto Portals which this year celebrates its 25th anniversary.
With so much leisure time revolving around the sea, and the spectacular elevated views afforded by the rugged cliff tops, it's little wonder that coastal real estate carries such a price premium.
