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Follow on Google News | China has its Eye on Mallorca Real EstateA little over a year since Nanjing-based Jiangsu GRPO International Business purchased five-star Hotel Valparaiso in Palma, Chinese businessmen and dignitaries have been back to the Island to discuss further investment.
By: Mallorca Sotheby's International Realty In March, the Economic Advisor from the Chinese Embassy, the President of the Chinese Chamber of Commerce and Investment in Spain, the Chinese Ambassador, and representatives from 23 major Chinese investment groups with interests in Spain, attended a meeting in Palma de Mallorca. They confirmed that they were targeting large-scale investment in the Island’s tourist and real estate sectors – primarily at luxury level. Then, at the end of May, Prime Minister Li Keqiang, the second most powerful man in the country (and 13th most powerful person in the world 2014 according to Forbes) came with an entourage of 120 to cement, and accelerate, these Chinese intentions. They, of course, booked out the entire GRPO Hotel Valparaiso Palace & Spa for their two-day visit. Alejandra Vanoli, Managing Director of Mallorca Sotheby’s International Realty (http://www.mallorca- “Already in 2015 we have sold to one Chinese buyer and are in negotiations with a second,” continues Alejandra. “The first selected a modern-design seven-bedroom refurbished Palma palace, close to the waterfront to indulge their love of sailing, and the second is keen to secure a buy-to-let home that will someday become a second residence. The appetite is certainly there and, as the Golden Visa requirements continue to relax (http://www.mallorca- Recent research says that as at 31 December 2014, 4,925,089 foreigners live in Spain - some 56.32% coming from within the EU. The Chinese are the third largest non-European nationality in Spain, and the sixth overall, with 191,078 residents. Furthermore 14 hotels in Spain have been rated ‘Chinese-friendly’ On the Market in Mallorca: Ref 7102 – Villa, Sol de Mallorca (http://www.mallorca- This modern villa, designed by architect Luis Garcia, is located in the residential area of Sol de Mallorca, just 20 minutes by car from Palma, several golf courses and the stylish leisure marina of Puerto Portals. Overlooking the Bay of Palma, green zones and the Mediterranean, the property has open-plan living, four bedrooms, a swimming pool with generous terraces and private access to a small beach below. Four Bedrooms, Six Bathrooms Built Area 450m², Plot Size 2,700m² Price 3.3 million euros (approx 2.34 million pounds) Contact Mallorca Sotheby’s International Realty on (+34) 971 674 807, andratx@mallorcasir.com or visit www.mallorca- Ref 7087 – Apartment, Palma de Mallorca (http://www.mallorca- This apartment is situated in one of the best areas in the Old Town of Palma de Mallorca and retains much of its original character. It has four bedrooms, two bathrooms, and a bright light-filled atmosphere throughout. There is also an impressive 60m2 terrace and a tower with stunning views of the City and Bay of Palma. Four Bedrooms, Two Bathrooms Built area 250m² Price 850,000 euros (approx 603,600 pounds) Contact Mallorca Sotheby’s International Realty on (+34) 971 721 000, palma@mallorcasir.com or visit www.mallorca- -ends- for further press information or photography please contact Sarah Drane on sarah@purplecakefactory.com or call 00 34 607 564 726 End
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