The property market in Alaró has been a bit of a slow burner, but through the years the undeniable charm of the town –¬¬ and improved road access to both the capital and coast – have increasingly won over buyers and raised demand for both main residences and second homes.
Most of the property comes in the form of the typical Mallorcan townhouse, with prices largely dependant on which of the (roughly three) parts of town they are located. At the lower end is the newer part of Alaró, Ses Cases Noves, to the east of town, where property tends towards builds from the seventies and eighties and lacking period charm. You can snap up one of these for as little as €200k though likely in need of a refurb and with little outside space.
The centro histórico comes next in terms of desirability, with some lovely old townhouses, many of which have already been tastefully updated. Expect prices to start at around the €400-500k mark going up to €700-800k for larger properties. The town’s oldest neighbourhood, Los Damunts, remains the most popular and pricey, boasting some gorgeous period homes but without the noise and bustle of the centre. From here you can also stroll right into the lovely surrounding countryside, but with the town centre less than 10-minute walk away. Top townhouses here can reach €1 million.
If you’re after something grander, but still want to live in town, there is also a limited number of casas señoriales – palatial residences, often in need of extensive renovations. Completed examples, however, can reach €3.5 million. And if you have that sort of money to spend, the surrounding countryside offers an excellent choice of fincas. If you are dreaming of having your own olive grove, vineyard, or vegetable garden these often come with plenty of land, as well as fabulous mountain views. Expect to pay €5–7 million for a fully renovated country house estate.
Something to bear in mind is that many newcomers like to ‘try before they buy’ in this area, so rent a property for a while before committing. This has led to a shortage of rental properties and rent rates being well above the island average. But if you are looking for a doer-upper townhouse that won’t break the bank, or if you have some serious cash to splash on a luxury country estate, Alaró offers these and plenty in between.