Nou Llevant: A Hub of Diversity in Palma's Real Estate Market

In a mere span of four years, Nou Llevant has undergone a remarkable transformation to become Palma's most sought-after district. The region now boasts over 750 freshly constructed apartments, signifying a significant surge in foreign-owned holiday homes and the burgeoning presence of German enterprises.

New Era of Nou Llevant

The genesis of this exciting development can be traced back to June 2019, when Metrovacesa, the esteemed property developer, received the green light to commence building medium-sized, upscale apartments in Nou Llevant. Today, the district skyline stands adorned with eight opulent residential complexes, and these new dwellings tally up to more than 750 in number. Furthermore, the neighbourhood anticipates two additional projects, Aire de Llevant comprising 84 residences and XoParq with 65 residences, currently available on the market. This surging growth marks a distinct shift from its earlier identity as the Polígono de Llevant.

Immense Favour Among International Homebuyers

Nou Llevant has garnered immense favour among international homebuyers, with foreigners accounting for roughly 60-70% of all apartment acquisitions. The remainder is sourced from domestic clients, primarily hailing from Madrid, and to a lesser extent, local Mallorcans. The prominent German community represents the lion's share of the district's new inhabitants, closely followed by Swiss and Scandinavians.

Growth in German Businesses

The German imprint extends beyond the residential aspect, with an influx of German businesses making their mark. Recently, a Lidl supermarket debuted in one of the newly minted residential complexes, and Rossmann is poised to unveil a sizable pharmacy unit shortly.

An Enticing Prospect for Astute Investors

Nou Llevant, a region now synonymous with affluence, caters to upper-middle and upper-class residents. Housing prices in this vibrant enclave span a range from 300,000 euros to 2.5 million euros. Its allure lies in its proximity to numerous attractions, including the beach, Portixol, the airport, and a luxurious Meliá hotel, making it an enticing prospect for property investors.