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
2 min
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.
Copyright 2020, Dow Jones & Company, Inc. All Rights Reserved Worldwide. LEARN MORE
What a quarter-million dollars gets you in the western capital.
Alexandre de Betak and his wife are focusing on their most personal project yet.
Owned by Richard Outten, who’s penned screenplays for films including “Pet Sematary Two” and “Lionheart,” this is only the third time the home has been on the market
< 1 minA Mid-Century Modern home in Carmel, California, hit the market on Friday for just the third time in 70 years with a listing price of $4.25 million.
Located in the community of Carmel Highlands, the house is just steps from the coastline and comes with private beach access, according to the listing with Tim Allen of Coldwell Banker Realty in Northern California. Allen was not immediately available for comment.
The property last changed hands in 2010 when Hollywood screenwriter Richard Outten bought it for $990,000, public records show. Outten penned the screenplays for the 1992 movie “Pet Sematary Two” and the 1987 film “Lionheart,” and created the story for the 2012 “Journey to the Center of the Earth” sequel, “Journey 2: The Mysterious Island.” He was not immediately available for comment.
Built in 1953, the home’s mid-century charm has been preserved over the years while still being updated for modern living. Interior details include wood paneling, exposed-brick walls and beamed ceilings.
The single-level house has 1,785 square feet, which includes three bedrooms and two full bathrooms. Though not directly on the water, large windows flanking the adobe-brick, wood-burning fireplace look out at the ocean.
Sliding glass doors create a seamless flow between indoor and outdoor living. Outside, there’s a large patio surrounded by lush landscaping, and there are also meandering paths through sustainable succulent gardens, according to the listing.
In addition to its close proximity to the beach, the home is a 10-minute walk from downtown Carmel-by-the-Sea.
As of July, the median list price in Carmel is $3.1 million, up 8% from last year, even as active listings have increased 50% year over year, according to data from Realtor.com.
