  The finest properties in Mallorca
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Greetings!
THERE IS A MARKET once again! The winter months have been tough as it has been throughout the world; but we are seeing a definite revival of interest although - needless to say - many buyers are looking for "a good deal"!
Not many of our listings have been reduced in price but more owners are open to greater flexibility in either price or the final agreement. However, we do have some owners who are wishing to sell quickly and therefore we have some interesting opportunities to offer you - Please click this button to view:
The comments written here are very simply Michael Cunnington's understanding of the matters mentioned and in no way should be taken as an official view - any comments from readers will be welcomed. |
| JACK BARCLAY - BENTLEY EVENT |
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On Wednesday 22nd and Thursday 23rd of April we were privileged to be present at the launch of the new Bentley Supersport GTC at Jack Barclay's showroom in London's Berkeley Square and to promote Zen Vida, the very special villa we are marketing. The event was very well attended on both evenings and thank you to all our friends who came to this enjoyable event.
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| SAVILLS MARKET REPORT |
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Savills in London have sent their latest Savills Property Perspectives to their mailing list of 60,000 addresses: Briefly they report as follows: The Prime Market Pulse is Beating Again
As the Summer selling season approaches, I am pleased to report that we are seeing the first signs of change in the UK residential market, with the downbeat mood of late 2008 giving way to an air of cautious optimism. There is a real sense that the bottom may be in sight, particularly in the prime market.
Historically, London has led the recovery and we see every sign that it will do so once again: rates of fall in our Prime Central London index have halved compared with the final quarter of last year and in the first three months of 2009, prices for a third of the properties in our Prime Regional Index have stabilised. You can read more about this in our latest edition of the UK Residential Property Focus which focuses on the likely pattern of recovery in the housing market.
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| CAPITAL GAINS TAX |
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Good News if you sold your Spanish property in 2005 or 2006 and paid Capital gains Tax....
As the Capital gains Tax rate has been reduced from 35% to 18% there seems to be a possibility that if you paid the higher rate that you may be able to claim a refund. It's needless to say - subject to various "ifs and buts" but as it appears to have contravened European legislation - you could be in with a chance. My colleague Gerald Byrne from Savills office in Barcelona has a good connection with a law firm in Barcelona who are "on the case" for other clients. If you would like further information, please contact me.
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| PROPERTY MANAGEMENT AND RENTALS |
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Several clients have asked us to suggest competent companies to look after their properties and perhaps also arrange rentals - the following are recommended:
Keys and Concierge based in Portals village have been established for some time and offer a great service - rentals - maintenance - parties - excursions - and a truly comprehensive menu including providing staff, chefs, catering and so forth. Operated very professionally by Clare Taylor and Magali Kilian - you will be in good hands. www.keysandconcierge.com
The Property Care People. Lindsay Walker (ex Savills in Beaconsfield) has recently set up her Property Care company and offers a very thorough service at sensible prices. www.thepropertycarepeople.com
Both these companies actually DO what they SAY they will do which is refreshing !! |
| TAX ON RENTALS |
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Although rentals are a minefield into which we have not ventured, there is also some possible good news on the tax situation for corporate ownership and rental opportunities. Again - loads of "ifs and buts" but if you are the owner of several properties (owned by a Spanish company (S.L.) and fulfil various other fairly straightforward requirements, you could benefit. Tax is not my favourite topic so I don't pretend to understand this complex subject but - importantly - I know who to talk to!!
Note: Information is the 2nd most valuable item in the world. Nº 1 is the person who has it!!
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| QUOTATION OF THE MONTH |
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Investment Analyst Dr Marc Faber
QUOTE: "The US Federal government is sending each US citizen a $600 rebate. If they spend that money at Wal-Mart, the money goes to China. If they spend it on gasoline it goes to the Arabs. If they buy a computer, it will go to India. If they purchase fruits and vegetables it will go to Mexico, Honduras and Guatemala. If they purchase a good car, it will go to Germany and Japan. If they purchase useless crap, it will go to Taiwan. In short, none of it will help the American economy.
The only way to keep that money in the USA is to spend it on prostitutes and beer, since these are the only products still produced in the US." UNQUOTE..... oooh er...!!
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 Elegant modernised villa in Formentor.
Exquisitely refurnished with classic Danish furniture.
6 suites, specially designed Bulthaup kitchen, 3 large reception rooms, patio, terrace, spa area, and separate staff accommodation. Surrounded by mature landscaped garden with pool and beautiful views to the sea. Very close to the sea.
Guide Price: 9.850.000€
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 Ultra- modern new build villa in Son Vida.
5 suites plus staff apartment.
This luminous property exudes quality and sophistication with indoor and outdoor heated pools, spa, deluxe kitchen, spacious lounge, dining area, 6 bedroom suites and numerous recreation areas. To be completed end of summer 2009.
Price: 7.750.000€
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 Excellent contemporary villa fronline to the sea.
Located on the cliffs near Sa Torre with 5 suites, large living room, dining room and a fully equipped modern kitchen. Large covered live-out terrace and infinity pool, all with stunning and undisturbed sea views. Surrounded by a beautiful designer garden.
Completion expected by June 2009.
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 Water's edge penthouse in the Anchorage Club.
With absolutely stunning sea views and a living area is approx. 130 m2 plus terraces including a master suite, as well as a second bedroom with own shower room/guest W.C. Living room with fireplace and high vaulted ceilings, communicating with the "Provencal style" fully equipped kitchen. Spacious enclosable terrace and a small roof terrace. Exclusive complex.
Price: 975.000€
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 Delightful small boutique hotel..
Scott's Binissalem - An outstanding opportunity to acquire a well functioning and well known boutique hotel.
In restored 18th century senorial townhouse with 17 bedrooms, all uniquely furnished with understated elegance. Common facilities include 2 sitting rooms, a bar with satellite TV, a breakfast room, a patio and courtyard with 2 sun terraces, and a pool with swimjet.
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 New Luxury development in Old Bendinat.
High quality apartment complex in walking distance to beach and local shops.
On a plot of 25,000 sqm, this new development of 80 apartments, offers 2, 3 and 4 bedrooms, some with garden or roof terrace. High quality fully fitted kitchen and bathroom furniture and excellent finishes throughout.
To be completed 2012.
Prices from 627.000€
Ref: 09001
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 Minimalist designer complex by Port Adriano.
New development in Nova Santa Ponsa consisting of 7 buildings and with a total of 65 apartments with 2, 3 or 4 bedrooms. High quality finishes throughout and fully fitted kitchens. The complex will have a beautiful Mediterranean garden environment with 2 outdoor swimming pools, a club house and paddle courts.
Completion expected 2011.
Prices from 660.000€ Ref: 09020 Learn more...
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 Palma old town pied-a-terres.
In the very heart of Palma old town, 3 luxurious apartments perfect as pied-a-terre in the city. One apartment with 2 bedrooms, and two with 3 bedrooms. Excellent finishes and quality fittings throughout. Parking spaces included with each apartment. Only 3 apartments in this old palace with many original features and lift to all floors.
Reduced prices - now from 795.000€
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Newly built finca in the countryside by Sineu.
5 bedroom suites plus separate guest apartment. Bathrooms en suite and fitted wardrobes in all rooms. Beautiful fitted kitchen, living room with fireplace and direct access to the covered terrace with BBQ and pool area. The pool is surrounded by lovely garden and palm trees and has a toilet and changing room.
Price reduced 38% from 3.500.000€ to 2.150.000€
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 Completely reformed finca near Santa Maria.
In peaceful area with panoramic views of the surrounding mountains.
6/7 bedrooms and 6 bathrooms in main house and separate guest house. 2 living rooms, dining room, study, large live-in kitchen and covered terrace with BBQ. 3 stables, horse ménage and paddock. Surrounded by beautiful gardens with pool and orchards.
Priced to sell at 995.000€
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New Build finca near Es Trenc beach.
Near Sa Rápita with 5 bedrooms, 4 bathrooms (3 ES) and staff quarters.
Fully fitted kitchen and living-dining room with fireplace and direct access to covered terrace and pool. The finca has a lovely south facing garden with large pool. Only 5-10 min. drive to the wonderful beach of Estrenc, Sa Rapita or Colonia de Sant Jordi.
Priced to sell at 1.400.000€
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That was all for now. We hope to see you soon in Mallorca.
Sincerely yours,
Michael Cunnington
MJC Associates
Tel: +34 971 57 99 57
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