The price of luxury in Mallorca is ever on the up. | Albert Bravo Gil


Affording even a modest home in Mallorca is increasingly beyond the reach of many, but for a super-rich minority the prices of luxury properties present no obstacle.

These are properties that compete with the Côte d'Azur, such as one with 22 bedrooms in Puerto Andratx; the price is 79 million euros.

If this is in fact too expensive, how about a 12-bedroom house in Santa Ponsa at 41 million euros or a nine-bedroom property in Puigpunyent for a mere 29.5 million, the same price as a villa in Bendinat?

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If renting is preferred, there's a villa in Costa d'en Blanes for 12,837 euros - per night. There are at least 20 more mansions on the market for 8,000 euros per night. If renting is for the month, then 138,000 euros secures a mansion in Andratx.

Hans Lenz of Engel & Völkers and the president of the exclusive ABINI association that deals primarily with the high end of the market says that there are properties to rent at even higher prices. They're not advertised as such but are available at some 15,000 euros per night to the likes of Cristiano Ronaldo and Nicole Kidman. Nevertheless, Lenz reckons that you would pay more in Ibiza or the south of France.

He also believes that all this luxury doesn't affect the average price to rent. These are two different markets. "What does affect families seeking to rent is the illegal rental in Palma." In addition, he maintains that the luxury end of the market generates economic activity and employment.

José Miguel Artieda, president of the college of real estate agents, says that it is becoming more common for agencies to offer seasonal rentals of 12,000 or 15,000 euros per month. But he doesn't agree with Lenz. In the long run, the average price to rent is affected. "There is always a knock-on effect."