0%

Press release

Domus Vivendi Group and Mercurius Real Estate enter the international rental

apartment market - 140 micro-apartments planned for Majorca

Frankfurt am Main, 8th March 2018

They have been developing micro-apartments in Germany’s large cities for around

a decade. Now the Domus Vivendi Group and Mercurius Real Estate are heading

abroad: a residential development with 140 micro-apartments is being developed in

the Spanish city of Palma de Mallorca. The project relies on the expertise of the

Domus Vivendi Group: the company has been playing an active role in construction

projects on the Balearic island for twenty years now.

The owner-managed company has built over 1,500 rental apartments to date.

Entering a market beyond one’s own national borders is not something that

happened by accident, explains Thomas Oellig. “The German housing market is

saturated, especially in the city in which we are based - Frankfurt am Main”, says

the managing director of the Domus Vivendi Group, explaining the venture.

Project aimed at a broad range of investors

The island’s capital is home to the third-highest rents in Spain, after Madrid and

Barcelona. The development is attractive even to German institutional investors,

continues Oellig. The increasingly scarce supply on the domestic market is drawing

more and more investors overseas. With a lot size of 40 to 45 million euros, the

development is aimed at a broad range of investors, says the managing director.

The project partners are currently preparing to submit the planning application.

Planning permission is expected to be received during the first half of 2019.

Meeting the short supply of rental housing

The concept of part-furnished micro-apartments, which has been successful in

Germany, can be seamlessly applied to other European metropolitan areas. Palma

de Mallorca is proving to be a highly suitable location. The city’s population, which is

growing at a steady rate is, as is generally the case in Spain, faced with a scarcity

of rented accommodation. The planned units are designed for individuals and young

professionals. They also represent a suitable solution for rented accommodation for

people working in the tourist industry, who are only due to stay on the island for a

limited period. “We consider these conditions to be a great opportunity to establish

our concept on the Majorcan market”, continues Oellig.

For further information, please contact:

DOMUS VIVENDI Group

Company communications

Roßmarkt 10

60311 Frankfurt am Main

Tel.: +49 - 69 920 2079 00

Fax: +49 - 69 920 2079 01

presse@dv-group.de

www.dv-group.de