Private Buildings and Commercial Buildings in Majorca
Over the last decades Majorca’s economic activities have emerged significantly, explicitly the service sector has proven a significant and dynamic growth. This sector bestowed Majorca with wealth beyond estimates. Whereas, most of the services are rendered within commercial buildings, especially designed and constructed for these purposes.
These private and commercial objects on the Balearic Islands are characterized by their gracious spaces, their very high value on the property market and by the real estate market’s significant demand. Such buildings open a variety of economic advantage. Even the mere purchase is mostly a successful and lucrative investment. In Majorca, these mainly private buildings are used often as a family residence either based on their purchase or their rental. Of course entrepreneurial activities can be conducted within these buildings, foremost in the type of offices or shops.
Regarding technical and aesthetic issues, the visitor to Majorca can find buildings which have been renovated and are excellent examples of traditional Majorcan architecture. Spacious rooms, high roofs, floors made of terracotta and beams are always elements that attract the attention. Other objects are more modern and correspond to the today's zeitgeist. They are characterized by simple and reduced lines but staying always functional.
Most private and commercial buildings in Majorca for sale are located in urban and sub-urban areas. Whereby, it should be distinguished between the locations village, capital and coast. The objects can be found in the old as well as in the new parts of our villages and our capital city Palma de Majorca. The old buildings are situated in narrow streets with Gothic or Renaissance reminding facades. In Palma de Majorca there are even some modernist representatives. In the villages this type of property can be found since the 19-sixties, thus, it represents a relatively new type of real estate. In coastal areas buildings with apartments have emerged at the same time, overlooking the sea. This is the reason why one finds merely no individual buildings along the coast, but in Palma.
In Majorca’s commercial zones one can also find these buildings focusing on entrepreneurial activities. Such business parks are relative young areas aiming at facilitating business life in towns and villages alike. Especially their ability to attract the traffic away from the cities is a crucial feature beside the multiple organizational functions they render to the surrounding economy.
The origin of the buildings, which are further subdivided into floors, is the insula romana. There are only a few witnesses of this kind of construction in the world. The insulae were buildings withthree or four floors and a business premises on the ground floor (first floor). There lived the Plebs in the overpopulated antique Rome. The ancient Romans discovered the leverage effects of vertical construction to utilize the scare space to an optimum. This “new” type of construction found its way into their huge Empire.
Over the centuriessome of the buildings based on this construction type where found in several important Roman cities while they practically disappeared in the middle ages. In the 19th century the new urbanism in Europe revitalized this construction type again. Especially the Industrial Revolution and consequently the stream of people into urban areas gave reason to this practice.
4. Pros and Cons
Nowadays the private and commercial buildings face an exceptionally large demand, significantly depending on their location. In the capital, in the villages and in the industrial areas there is a market segment which is specifically aimed at those objects. It is usually very complicated to find a building along the coast or near the sea, and usually it is also owned by several people. Occasionally there is a need of an investment to customize the real estate to the new owner’s expectations.
5. Perspectivesand Investors Relations
A building grants a variety of perspectives and possibilities. The object can partially be sold, rented or is being dedicated to entrepreneurial activities. Generally, the building has a significant value which, results not only from the floors, the location and design, but also from the value of the land.