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 property will have far-reaching views.
Nacho Riutort at PH Mallorca

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.

The spring property market is shaping up as the most active in recent memory, according to property experts Two Red Shoes.

Mortgage brokers Rebecca Jarrett-Dalton and Brett Sutton point to a potent mix of pent-up buyer demand, robust seller confidence and the First Home Guarantee Scheme as catalysts for a sustained run.

“We’re seeing an unprecedented level of activity, with high auction numbers already a clear indicator of the market’s trajectory,” said Sutton. “Last week, Sydney saw its second-highest number of auctions for the year. This kind of volume, even before the new First Home Guarantee Scheme (FHGS) changes take effect, signals a powerful market run.”

Rebecca Jarrett-Dalton added a note of caution. “While inquiries are at an all-time high, the big question is whether we will have enough stock to meet this demand. The market is incredibly hot, and this could lead to a highly competitive environment for buyers, with many homes selling for hundreds of thousands above their reserve.”

“With listings not keeping pace with buyer demand, buyers are needing to compromise faster and bid harder.”

Two Red Shoes identifies several spring trends. The First Home Guarantee Scheme is expected to unlock a wave of first-time buyers by enabling eligible purchasers to enter with deposits as low as 5 per cent. The firm notes this supports entry and reduces rent leakage, but it is a demand-side fix that risks pushing prices higher around the relevant caps.

Buyer behaviour is shifting toward flexibility. With competition intense, purchasers are prioritising what they can afford over ideal suburb or land size. Two Red Shoes expects the common first-home target price to rise to between $1 and $1.2 million over the next six months.

Affordable corridors are drawing attention. The team highlights Hawkesbury, Claremont Meadows and growth areas such as Austral, with Glenbrook in the Lower Blue Mountains posting standout results. Preliminary Sydney auction clearance rates are holding above 70 per cent despite increased listings, underscoring the depth of demand.

The heat is not without friction. Reports of gazumping have risen, including instances where contract statements were withheld while agents continued to receive offers, reflecting the pressure on buyers in fast-moving campaigns.

Rates are steady, yet some banks are quietly trimming variable and fixed products. Many borrowers are maintaining higher repayments to accelerate principal reduction. “We’re also seeing a strong trend in rent-vesting, where owner-occupiers are investing in a property with the eventual goal of moving into it,” said Jarrett-Dalton.

“This is a smart strategy for safeguarding one’s future in this competitive market, where all signs point to an exceptionally busy and action-packed season.”

Two Red Shoes expects momentum to carry through the holiday period and into the new year, with competition remaining elevated while stock lags demand.

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

A developer has put the unbuilt project, known as Villa Pura, on the market with one of the biggest price tags on the Spanish island

Buyer demand, seller confidence and the First Home Guarantee Scheme are setting up a frantic spring, with activity likely to run through Christmas.