Palma, located on the beautiful island of Mallorca, is a city rich in history. Known for its impressive Gothic architecture, such as the Cathedral of Santa Maria, also called La Seu, Palma offers a glimpse into the medieval past of the region. This historic city is situated on the southern coast of Mallorca, with the splendid Mediterranean Sea on its horizon. With a perfect Mediterranean climate, summers are hot and winters are mild, making it an attractive destination year-round.
Exclusive Property Market in Palma
The exclusive property market in Palma is currently strong, with demand significantly exceeding the supply of luxury houses and apartments. This situation keeps prices high and stable, attracting high-net-worth buyers from around the world. Although the political and economic situation in Palma is stable, it is important to consider additional costs when purchasing a luxury property, such as the transfer tax of 8-10%, real estate agent commissions, notary fees, and possible inspection or legal costs.
Luxury Residential Areas in Palma
The most exclusive and sought-after areas in Palma include Son Vida, known as the "Beverly Hills of Mallorca," and the elegant Paseo Marítimo area, which offers spectacular sea views. These areas not only provide impressive modern architecture but also convenient proximity to the best facilities and services the city offers.
Accessibility and Transport
Palma is well connected by road and rail, facilitating access to the entire island. The city is just 15 minutes by car from the Palma de Mallorca International Airport, which connects to numerous European destinations. Additionally, from Palma, one can easily reach other major cities in the rest of Spain.
Education and Health
Palma boasts outstanding educational institutions, such as Escola Global International School and the University of the Balearic Islands (UIB). In terms of healthcare, both locals and expatriates have access to excellent medical services thanks to Son Espases Hospital and the Rotger Clinic.
Lifestyle and Leisure
Palma offers a vibrant leisure scene with a wide variety of luxury shops, like those found on Paseo del Borne, as well as renowned restaurants and upscale nightlife options. The city is also a cultural hub with museums and galleries like Es Baluard and the Miró Mallorca Foundation, enriching the region's artistic and cultural offerings.
Outdoor Activities and Sports
With its impressive natural surroundings, Palma is a paradise for outdoor enthusiasts. From water sports on its nearby beaches to hiking in the spectacular Sierra de Tramontana, there are options for everyone. Golf enthusiasts will also find world-class courses in the vicinity.
Palma is not only a city that offers a high standard of living, but it is also perfectly positioned to take advantage of all the charms that Mallorca has to offer, making it an ideal place to buy a luxury property and enjoy an exclusive lifestyle.
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