Mallorcan Megamansion That’s Set to Break Ground This Fall Lists for €42.5 Million

What will be a sprawling villa in Mallorca has hit the market for €42.5 million (US$45.8 million) making it one of the most expensive offerings currently available on the bucolic Spanish island.

Work on the almost 19,000-square-foot residence is set to begin in September, and construction is expected to take somewhere around two-and-a-half to three years, according to Alby Euesden, managing partner of the Agency’s Mallorca office, which brought the home to the market at the end of June.

Surrounded by Port d’Andratx and the scenic mountain ranges of the Tramuntana, “Villa Pura has been designed to frame its surrounding environment at every opportunity, using space, light and form,” Euesden said.

“In many ways the central feature of the space is its unique pool, which acts as its main focus point, providing a rich source of visual interest,” he said.

The sizeable infinity pool, which will run the length of the home, will be joined outside by multiple terraces, a lounge area, an outdoor bar and dining space.

Inside, the open-plan home is set to boast a sleek and organic palette, with walls of windows, exposed stone and wood details.

There will also be multiple living areas, a kitchen with two islands, a double-sided fireplace, a formal dining room, a gym and nine bedrooms, including a primary suite with a private terrace and hot tub. And of course, far-reaching Mediterranean views.

The seller is one of the leading developers on the island, according to Euesden. “They acquired the land site over five years ago and have been meticulously planning the project, which initially consisted of various lots,” he said.

Euesden declined to comment on how much was paid for the underlying property.

Mallorca’s luxury market is “very buoyant right now,” he explained. “Spain has much lower mortgage rates than the rest of Europe and the U.S., with fixed rates [currently] from 2.15%.”

With Mallorca “being a destination market which attracts buyers from all over Europe, and with an ever-growing interest from U.S. investors, the market has remained stable and even seen an increase in pricing within new developments,” he added.