Porta Mallorquina, Author at Porta Mallorquina Real Estate

15Nov By Porta MallorquinaNo Comments

Taxes

New tax laws for Spain in 2015

The proceeds from the sale of a property in Spain are taxable even for non-residents. From 2015, the tax rate on income to persons whose principal residence is in the EU is 20% instead of the previous 21%. For resident property sales in Spain, the tax burden from next year will be 24% instead of 27% (from gross income from the sale of over 24,000, – €). Especially for owners who purchased their house in Majorca before 1994 and now want to sell it, the new tax law in 2015 might be infavourable. Is this good news for sellers? Unfortunately not, because the tax reform has caused the government to retroactively “compensate for inflation and reduction coefficients” from which, there is a significant taxable income especially on older properties. Sales in 2014 are still wort...

5Nov By Porta MallorquinaNo Comments

Mallorca

Modern architectural island celebrities

Mallorca has grand buildings and true architectural gems. But here neither the Cathedral nor the Art Nouveau and Gothic buildings will be spoken of. Instead, we take a look at exceptional contemporary architecture and its most famous builders. Can Lis and Can Feliz by Jørn Utzon “Can Lis” constructed by Jørn UtzonSource: Torben Eskerod Not everyone knows that the Danish architect and builder of the Sydney Opera House, Jørn Utzon has lived many years with his family in Mallorca and has created two monuments here. As one of the most important architects of the 20th century, he has left his mark on the world, and also designed two houses in the southeast of the island: Can Lis on the coast between Porto Petro and the Mondragó Nature Reserve and Can Feliz inland at Horta. ...

1Oct By Porta MallorquinaNo Comments

Event, Golf

Golf: News from the Southwest

Real Golf de Bendinat has renewed all its greens. What’s new about the four popular 18-hole golf courses in the south west of the island – the Real Golf Bendinat, the Golf de Andratx Golf de Poniente and the Golf de Santa Ponsa? Real Golf de Bendinat As one of the oldest and most prestigious golf courses on the island, Real Golf de Bendinat has renewed all its greens. Two months – July-August – saw continued renovation work on the 18 “royal” greens. Since early September, the doors have been open again. To show off the greens in peak condition, the tournament season starts in Bendinat, according to information provided by the club leaders in November. The most autum tournaments in the southwest Major tournaments take place in October at the Golf de Andrat...

29Aug By Porta MallorquinaNo Comments

Event, Mallorca

“El Tren de Sóller”: The musical celebrated its premiere in Mallorca

Have you already been on the train to Soller? Departure since the premiere of the musical “El Tren de Sóller”, which took place on 08 August, is from the small as well as historical cinema in Sala Augusta in Palma. At this charming venue, the musical picks up its guests and takes them on a journey through the Majorcan countryside, where the traveler will encounter people of diverse cultures. “El Tren de Sóller”- the act During the train ride, the musical guests are accompanied by the charming and sympathetic at first glance Susanne from Berlin. Susanne travels for the first time by train to Sóller. She is excited, looks a bit lost and does not know what to expect on the trip. Love has led her to make the journey into the unknown to Sóller. The...

27Aug By Porta MallorquinaNo Comments

Mallorca

Street Art in Palma

A city tour with a difference Palma’s old town has two faces. At first glance, we are enchanted by the medieval city palaces, the magnificent patios, and the elegant Art Nouveau façades. But today we didn’t meet on the Plaza Mayor to follow the tide of tourists. Instead, we allow ourselves to be led through the narrower, darker laneways to the Sa Gerreria quarter. This is where the city reveals its second face which exudes an unexpected, morbid charm. Street art on a garage door in Palma’s Calle Can Pueyo Palma’s second face Even close to the Mercè Church, there are countless empty houses waiting for investors willing to renovate. Until they arrive, the dilapidated façades serve as canvases for urban artists such as Manrique Daniel Durán. The Argentinian’s studio is i...

27Aug By Porta MallorquinaNo Comments

Mallorca, News, Real Estate

Majorcan real estate as an investment – why now is the time to buy at good value

“The property market in the UK threatens the overall economy,” and similar developments are determined by the British property market. The government has helped to heat up the demand for real estate vigorously. Buyers can obtain loans at favourable conditions and with virtually no equity. 5% of the purchase price is all that is needed to apply for a house purchase, thanks to government support for the buyer. As a consequence, the prices of real estate are rising rapidly. Consequence: Rapid rise in prices Since 2000, housing prices have risen in Britain by 109%. The average price of a house has risen to a new high of the equivalent of about 230,000 euros. Since the spring of 2013, the prices recorded have increased massively in the UK, especially in London where the property ...

6May By Porta Mallorquina4 Comments

Mallorca, Taxes

Holiday lets in Majorca – here’s how to let legally to holidaymakers

Since the reform of the tourism regulations, everyone is talking about holiday letting in Majorca. No wonder given that such lettings offer owners attractive additional income during the times when they are not using the property themselves. But what about holiday apartments? Can they be legally let too? And does the owner become a tour operator if he offers his finca to let on the Internet? On 26th April Porta Mallorquina invited guests to a Brunch with speakers talking on the subject of holiday letting. These and other urgent questions were answered on 26th April by solicitors Guillermo Dezcallar Enseñat and Javier Blas Guasp from the legal firm ILLESLEX at our info event and brunch at our estate agency in Pollensa. Señor Dezcallar Enseñat, why is there so much confusion at the moment...

5May By Porta MallorquinaNo Comments

Mallorca, Real Estate

FAQs about Mallorca’s new Land act

When does the new Act come into effect? It was ratified by parliament on 11.03.2014 and must be approved with an absolute majority by all of the Island Councils. Menorca and Ibiza have already passed the law. This is due to happen shortly in Mallorca. What does the Act entail? Generally speaking, it is an integral regulation of urban activities and deals with the simplification and rationalisation of construction regulations. All of this has been implemented in concrete form as follows: Faster issuance of building permits (e.g. approval for smaller structures by means of simple, advance registration). Amnesty: legalisation of properties “not in compliance with zoning regulations”. More stringent penalties and greater liability of those involved (builders, technicians, civil servant...

9Apr By Porta MallorquinaNo Comments

Mallorca, Porta Mallorquina

New: Places Mallorca Finca-Holiday Guide – now available

With over ten million visitors annually Mallorca is the most popular island in the world. The many fans of the Mediterranean island appreciate its diverse scenic beauty and its wide range of accommodation options. In a class of their own here are the over 200 Finca Hotels of Mallorca. The lovingly restored and stylishly decorated mansions and country estates pamper their guests with tranquility and rural Mallorcan charm. The second edition of the Finca guide “Places Mallorca Finca-Holiday” provides all the country hotels on the island clearly ordered by region. For each hotel you will find information on the various features and price level. Our editors have personally visited selected country hotels and described them in German and English. As many guests put special emphasis...

28Feb By Porta MallorquinaNo Comments

Mallorca, News, Porta Mallorquina, Real Estate

Off to Majorca for the returns

Since the legalisation of holiday rentals on the Balearics, one’s own holiday home is also an interesting capital investment. Since the last financial crisis, real estate has been one of the most popular capital investments and meanwhile, a 4% return on rentals is considered to be an interesting investment. The German real estate market has responded accordingly, and recent years have seen prices for residential real estate booming, particularly in attractive city locations. Surfing the real estate portals one almost has the impression that Germany has been “bought up completely”. A holiday home as an investment: Majorca is increasingly becoming the focus of European investors looking for real estate that offers high returns and retains its value. The situation i...