1. Minkner & Partner News
Real estate economy: In 2013 Germans have purchased 1.334 detached properties in the Balearics
Crisis, what crisis: International clientele continue to buy detached properties in increasing numbers in the Balearics. This is not the wishful thinking of estate agents, but a sound fact derived from an empirical study by Spanish notaries. Just last year Germans purchased 1.334 detached villas in the Balearics with the Brits in second place having purchased 694. 2013 saw a 3.1 % increase in the sale of properties to foreigners compared to the previous year. A percentage increase in the number of sales is expected to reach double figures for 2014.
Minkner & Partner, one of the leading real estate agents on the island, has more than doubled its sales in the first two quarters compared to the same period last year. The majority of buyers came from German speaking countries such as Germany, Switzerland and Austria but also from the UK and Scandinavia.
2. Mallorca – Construction, Economy laws and taxes
(1) Construction
Palma: Plans are underway for the construction of a tramline to the airport and the Playa de Palma
Gabriel Vallejo, transport minister for the Balearics, is presently working on a new mobility plan for the construction of a tramline which will connect Palma to the airport and Playa de Palma, thereby hoping to rectify the traffic problem in the capital. In addition more pedestrian areas will be expanded and parking fees increased. The objective is to have 46.000 less vehicles on the road by 2020 hence new bicycles parking spaces will be created.
Palma: Rafael Nadal Foundation builds social centre for young people
A noteworthy example that a successful athlete can act as a role model in his community and has a social conscience is the popular Majorcan tennis player Rafael Nadal. His ‘Fundacion Nadal’ wants to create educational and sports activities for children and young adults. The latest project is the construction of a social centre to be built on the border between the problematical districts of La Soledad and Levante in Palma. The city administration has made available 1,500 m² of fallow land. Nadal wants to create a recreational and educational opportunities in this centre for children and adolescents between the ages of 6 to 17 years.
2) Economy
Tourism: Hotel occupancy in May 2014; record forecast confirmed
The Spanish institute of statistics reports 2014 as being a record year for tourism on Mallorca. In the month of May hotels were already at 66 % occupancy, and no other Spanish region was able to boast such occupancy levels. The statistics are based on the assumption that hotels will be at 100 % occupancy in July and August, if this is the case then this will be a record year in the history of Mallorca’s tourism. The price for hotels rooms has increased slightly by 2.5 %.
Melia hotel chain to invest 25 million Euros in Magaluf
The Mallorcan hotel chain Melia, will invest € 25 million in Magaluf in the coming three years in a major project known as Calvia Beach Resort. In the winter the hotel Sol Jamaica will be demolished and re-built. In addition renovation work will be continued on the hotel Sol Trinidad and similar work will begin on the Hotel Sol Antillas. Melia’s plan is to create a Mallorcan Miami by extending the beach promenade and adding beach clubs, cafés and restaurants.
German tour operator Alltours takes over three hotels in Alcudia
The German tour operator Alltours continues with their expansion plan on Mallorca. During the course of the season they will take over a further three hotels in Alcudia making a total of 15 that they operate island wide, not to mention the beach front complexes of Estella del mar, Coral de Mar and Orquidea Playa. This means that the company, in Alcudia alone, have more than 3,000 beds. The new hotels are to bolster their Wellness and Fitness facilities in order to attract tourists to the island in winter. They will be all inclusive properties
Flight tickets for domestic flights are now cheaper
Domestic flights between Mallorca and the mainland are significantly cheaper than in previous years. Many are half the price e.g flights between Mallorca and Alicante or Valencia. Last summer a flight from Mallorca to Valencia cost € 120 and now is just € 60 return. The reason for the drop in prices is the increase in the number of flights available and the competition between the airlines.
Finca Son Mesquidassa in Felanitx is Mallorca’s largest olive oil producer
Conservas Rossello will soon become Mallorca’s largest olive oil producer. To this end 150,000 olive trees have been planted on the grounds of Son Mesquidassa in Felanitx which in the future should produce an annual yield of 250,000 litres of olive oil. The investment is believed to have cost € 3 million. In addition to the production of olive oil there will also be lectures on the cultivation of olives and guided tours of the installations. The transformation of the finca is also a huge boost for the recovery of natural landscape, as in 1993 it was planned to turn the land, which was at that time predominantly wasteland, into a private airfield.
(3) The law, taxes and finance
Taxation in Germany on the profit from the sale of a property Spain
Advisory literature often states that the sale of a property in Spain sold by a German tax resident is subject to German taxes. This is misleading and could result in 50 % more income being paid. This information is incomplete and therefore incorrect. The profit from the sale of a Spanish property is taxable in Spain usually at tax rate of 21 % and remains tax-free in Germany. This is always the case the property for sale is exclusively for the owners usage and if the taxpayer himself, uses the property with his family or with a third party (free of charge) (see 3 23 Section 1 Subsection 1 Sentence 3 German Income Tax Act).
However, if the apartment is rented out to third parties then capital gains tax is payable in Germany, and the tax paid in Spain will be credited (§ 34c para. 1 in conjunction with § 34 d No. 8, b Income Tax Act). However if ten years have passed between the purchase and sale of a property located in Spain, the sale is tax free in Germany.
3. Minkner Art Gallery & Culture
a) Olivier Brauns ´The whole is more than the sum of its parts`– experimental material collage
After leaving high school Olivier Braun’s studied carpentry and later architecture. Both professions are continuing to shape his work: The craftsmanship working with a variety of materials and the imaginative assembly of different parts to constitute a material collage of assemblage. The artist identifies his work as `experimental material collages`. They demonstrate is desire to work with a variety of materials which he can edit and mix accordingly thereby constantly creating new colours and shapes and thus seldom knowing e.g. what will result with a mix of copper with an acid of and pigments. In short: ´The whole is more than the sum of its parts´ Aristoteles.
Minkner Art Gallery- Avenida Rey Jaime I, 109 – ES 07180 Santa Ponsa, Tel. +34 971 695 255. Exhibition dates: 17.04.2014 – 03.07.2014.Opening times: Mon – Fri. 09.30h-18.30h, Sa. 09.30h-14.00h
b) Johannes, Dagmar Adamski, Karin Darby – let the flowers speak
The Minkner Art Gallery in Llucmajor also presents a collective exhibition of German artists, who have in their own way dedicated them to still life and collectively have created a lush bouquet in our estate agents. Johannesthe pop-artist who paints flowers in bold colours, sensitive Dagmar Adamski and meticulousKarin Darby. Each isdedicated to still life in a convincing manner. ‘Let flowers speak’ an invitation to Minkner’s Art Gallery in Llucmajor.
MinknerArt Gallery– Ronda Migjorn, 145 B - ES 07620 Llucmajor, Tel. +34 971 66 29 29
Exhibition Dates: 01.11.2013 – 30.06.2014 - Opening hours: Mo.- Fr. 09.30h-18.30h, Sa. 09.30h-14.00h
c) Diego Arango Arango, Hanne Holze – the naive send their regards
Originally naïve art was a group of untrained people who presented their dreams of an ideal world. Most of their works represented rural life, but from this a modern art movement has developed which is identified by a childish representation. The Minker & Partner art gallery has put together an exhibition of two international artists. Diego Arango Arangowas born in Columbia but has lived on Mallorca since 1988. He paints in a naïve style that brings together symbols and dreamlike images. On the current art scene he is classed as the ‘sophisticated naïve artist’. Hanne Holzehas lived on Mallorca since 1998. She observes people and parodies them in her paintings- always positive, benevolent, loving and carefree characters that are perfectly rotund with sometimes strange anatomies.
Minkner & Partner – C/ des Saluet, 1 (Deutsche Bank) – ES 07157 Pto. Andratx, Tel. +34 971 671 250
Exhibition dates: 01.02.2014 – 30.06.2014 - Opening hours:Mo.- Fr. 09.30h - 18.30h, Sa. 09.30h - 14.00h
4. EVENTS & TIPS
June 29, 2014 Jan Gerdes - Piano Concert in the Son Baulo cultural centre in Lloret de Vistalegre
On June 29, 2014, the Berlin pianist Jan Gerdes will perform in the Cultural Son Baulo in Lloret de Vistalegre. Gerdes, a lecturer at the Academy of Music in Potsdam, has prepared an impressive programme of works by Franz Liszt, Claude Debussy, Ligeti and Robert Schumann for the music lovers of Mallorca. 29.06.2014 piano concert with Jan Gerdes at the Cultural Son Baulo in Lloret de Vistalegre, 11.00 h Brunch 15 € 13.00 € 16 concert, to follow coffee and cake € 5, reservations +34 971 524 206, www.son-baulo.com
July 02, 2014 ZONE SISTERS in concert with a tapas buffet in the CAN ESTADES country hotel in Calvia
The country hotel CAN ESTADES in Calvia hosts an interesting event on July 2nd, 2014. The group ZONE SISTERS offer fiery music with guitar, bass, drums and violin. Furthermore, there will also be a tapas buffet and delicious drinks. 02.07.2014, ZONE SISTERS at Can Estades, 20.00 h doors open, the concert starts 20.30, 21.00 h tapas buffet, admission per person for the concert € 16 and € 23.50 for tapas buffet and drinks. Registration required. CAN ESTADES, Cami de Son Pillo, 15, Calvia, Phone +34 971 670 558, www.can-estades.com
July 05, 2014 God Save the Queen - Cover Band Freddie Mercury & Queen in Trui Theatre - Palma
"God save the Queen" - the best cover band of the British band Queen are in Trui Theatre on 5th July 2014 as part of their world tour concert in honour of the pop legend Freddie Mercury. The band - formed in 1998 - was known worldwide and packed out stadiums with their tours. Freddie Mercury died in 1991 at the age of 45. His band Queen has sold 320 million records and is amongst the most successful groups in pop history. 07.05.2014, 21.30, God save the Queen - Cover Band Freddie Mercury & Queen, in Trui Teatre, Cami Son Rapinya, 29, Palma, admission € 28 ticket sale in Trui Teatre and www.ticktackticket.com
Seafood Fair in Palma until 06.07.2014
Because of the large number of visitors to the seafood fair "Maris Galicia“ in Palma’s industrial park ‘Levante’ the event has been extended by one week to July 6th 2014. Visitors can sample specialties from the Northwest of Spain, including Mussels, crabs, shrimp, crawfish and lobster. And of course there is a wide selection of sea fish. Until 06.07.2014 seafood fair "Maris Galicia" in Palmas industrial area Levante, daily 12.30 - 16.30 h and 19.30 h – 23.30 h.
July 11, 2014, Geoff Evans & Band, Culture Finca Sa Taronja, Andratx
Geoff Evans & Band will perform on 11th July, 2014 in the Sa Taronja culture country house. The rock and blues singer lives and works in Mallorca. The following musicians will accompany him: Geoff Evans - vocals Jan Kobrzinowski - Bass, Ivo Jalic - Guitar, Thilo Schölpen - Piano, Patrick Shanahan - trumpet with Daniel Erismann - trumpet. Special Guest: Roland Prakken - acoustic guitar. 11.07.2014, 21.30 h, Geoff Evans & Band at the Cultural Center Sa Taronja, Andratx. Admission: 12 €, reservations +34 971 235 268, www.sataronja.com
July 19, 2014, Lions Club invites you to their summer festival WHITE NIGHT in the MOOD Restaurant & Beach Club, Portals Nous
Once again The Lions Club Palma are organising its traditional annual summer festival WHITE NIGHT in the Mood Restaurant & Beach Club in Portals Nous - with a champagne reception, cold-warm buffet including beer, wine, water and soft drinks, raffle, live music, dancing, surprises as well as many nice people to get to know or reunite with. 25 € per guest will go to the charity project of the Lions "Comida para Todos" - food for the needy in Mallorca. Dress code: white and summery-casual. 07.19.2014, 20.00 h, White Night, the Lions Club in the Mood Restaurant & Beach Club in Portals Nous, tickets in advance € 75, at the box office - as yet available € 85. Applications no later than July 10 2014 under info@lionsclubpalma.com or phone +34 667 566 717. Transfers of entry price per person € 75 to the account Lions Club Palma, La Caixa 2100 4379 630 200050 026 IBAN ES62 2100 4379 6302 0005 0026 BIC CAIXESBBXXX.