Davinia Caldés of New York-headquartered luxury real-estate firm Nest Seekers International reckons that Americans didn't used to know where Mallorca was, but that they have now located the island thanks to United Airlines.
Attributing the growth in American interest in property buying in Mallorca solely to the United direct flights from New York does rather ignore the various other ways in which the island is publicised at an international level, but these flights clearly have been proving important. Caldés adds that flight time from the US is no deterrent to Americans who want a profitable property - "To be able to enjoy it with their friends, rent it and obtain an investment. Americans are about numbers."
She explains that prices of luxury villas in Florida start at the equivalent of around ten million euros. "Here you can find something similar starting at five million. They are looking for luxury in special places, such as Cala Santanyí, Andratx, Alcudia, as well as Palma's old town. There are buyers with serious assets. They have discovered a new paradise."
Reports of interest in Mallorca property shown by high-profile figures from the entertainment world, such as Nicole Kidman and Taylor Swift, are among the ways in which Americans are being attracted to the island. And in order to satisfy the property interest, American real-estate companies are establishing themselves on the island.
Berkshire Hathaway Nova Mallorca opened its doors a year and a half ago. In addition to offices in Palma and Puerto Portals, CEO Jorge Forteza says that another one will open in Soller next week. "They are very good customers, they buy much faster than the Germans, who think more. Mallorca prices seem cheap compared to the likes of Manhattan."
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Peter PerfectOh, I think you'll find that squatting laws in most US states are very similar to here. Once they're in, it can take years to get them out. Personally, I can't even fathom how these squatter's protections ever made it into law --anywhere. It's legalised thievery, plain and simple.
The yanks can fuss up the Caribbean as much as they like but their attitude and culture as investors are not a good fit for a European island. It’s all about exploitation…hold on, isn’t that happening here already without them? Doh!
Little do they know what they are letting themselves in for. Wait until they get squatters in and see how that plays out in the American press.