DOMUS VIVENDI GROUP, the leading German project developer on the Balearic Islands, is an exhibitor at this year´s Expo Real in Munich from 4th to 6th of October 2022. The company presents the recently finished multi residential object MÍO, which was built in Palma de Mallorca´s city center including 184 micro and compact units in one rental property and is now available for global sale.
Unique on Mallorca, with an intelligent concept and absolutely trending right now: No matter where – in Berlin, Munich, Frankfurt or Palma, the signs hint at growth in all metropolises. Increasingly more people decide to live an urban life. Attracted by good career and leisure opportunities, especially commuters, young professionals, couples, and specialized employees find their ways into the cities – such as Palma de Mallorca. Also, more and more people who are, due to their profession, not restricted to one work location, are drawn here when they want to spend some time in the south.
“MÍO is the first project of its kind here on the island and receives lots of requests since communicating it for the first time.” says Thomas Oellig, owner of Domus Vivendi Group. Alexander Beulich, Managing Director, also sees the current rental housing market in Palma as a success factor of the project. “A low supply is countered by a very high demand, which leads to high rental costs for low quality.” Beulich explains the ongoing situation. To ease tension on the housing market, newly built micro apartments belong to the standard repertoire of today´s urban designers.
With MÍO, the Domus Vivendi Group realized an innovative living concept on the tight housing market on Mallorca. The urban city project offers 148 micro units, fully furnished and equipped and ready to move in. In addition, it includes 36 compact units with two rooms and a fitted kitchen, which focus more on the freedom and individuality of their tenants. The micros´ monthly rent includes a flatrate for water and electricity, heating, air conditioning as well as high speed WIFI. The use of the communal areas such as the beach club with pool, gym, sundeck and sportsfield is available for all tenants.
Profound ways of living totally hit the spirit of time. The number of people who strive for a sustainable and resourceful lifestyle rises fast.
“For that reason, we are even more pleased that MÍO is a pioneer in the matter of energy efficiency and the “Calificación Energética”, the Spanish energy certificate, was awarded with the best possible grade A.” continues Beulich.
Besides the sophisticated energy concept and thought of Green Building, the MÍO apartments stand for the highest possible degree of sustainability. Due to their smart construction according to German standards and with use of high quality and non-toxic building materials, the good isolation and climate friendly air-heating pump provide a low use of energy.
Sunny prospects for investments
Investors are happy about the secure rental income of the highly demanded and fully rented out asset with best prospects. The project contains a total rental area of 7,344 sqm with 148 micro and 36 compact units and a total plot of 4,870 sqm. Interesting for investors are also the economic framework conditions, the tax advantages as well as the forecasted value performance of the project. The finished multi residential object MÍO is now offered for a global sale. The 184 units are handed over to the tenants gradually and guarantee an annual rental income of approximately 2.1 million euro.
Alexander Beulich continues: „We are very excited to take part in this year´s Expo Real. Our goal is to connect with visitors and real estate professionals in personal conversations and exchange views about our current and upcoming projects, investment plans and prospects.”