1. New from Minker & Partner 2. Mallorca ... - Mallorca Property

1. New from Minker & Partner
a) Invitation: “Let`s get together–Minkner meets friends”, 22.09.2012, Llucmajor office
Let`s get together – Minkner meets friends”, once a year each office opens its doors and on 22 nd September it is the turn
of the Llucmajor office (15.00h to 19., Edith and Lutz Minkner plus the Llucmajor team, Marc Roeschl, Miri Antic, Ivana
de Toro and Christine Hardiman will be on hand to talk about current market trends, impart general information and help
with any specific customer issues relating to both property owners and prospective buyers. All this accompanied by live
music, tapas and drinks! 22.09.2012, 15.00 h – 19.00 h, Minkner & Partner Llucmajor, Ronda Migjorn 145 B, 07620
Llucmajor, Tel. +34 971 66 29 29.
b) The new edition of TRAUMIMMOBILIEN will be issued on 27 th September 2012 as a special supplement in the Mallorca
Zeitung
The new edition of TRAUMIMMOBILIEN, with its 64 colour pages is the most successful real estate newspaper in
Mallorca, and will be issued on 27 th September as a special supplement in the Mallorca Zeitung. It contains articles on all
current and important topics relating to real estate, especially the many new developments concerning law and taxes. Of
course the paper will also include a selection of some of the ‘Ideal Homes’ that Minkner & Partner have in their portfolio.
2. Mallorca – Construction, Economy laws and taxes
(1) Construction
Fantastic 4 bedroom villa with spectacular panoramic views across the sea for rent
CAMP DE MAR - Ref. M10776 - Rental price: € 5.000 - Tel. +34 971 671 250
a) Construction site closure at the Congress Palace
The Congress Palace matter is forever under public debate. After the unsuccessful bidding process for the operation of
the palace, which should be completed in spring 2013, now all entrances of the half finished complex have been bricked
up. Furthermore, a security company has been appointed to protect the site against burglary and vandalism. According to
the person responsible, Sebastian Sanso, it is impossible to say when construction work will be resumed.

(2) Economy
a) Balearic Islands: Prime Minister predicts economic growth for 2013
Prime Minister Bauza has predicted an economic boom for 2013. There are many signs of recovery: Compared to last
year 75% more new companies have been set up and the number of bankruptcies has declined by 25%. Also steps have
been taken to revive the economy in the off season. Creating short-term employment in the off-season ought to be
supported by wage subsidies. It is also necessary to encourage hoteliers to be open in the off season the hotels.
b) Spain: Record number of tourists in 2012
Charming villa with sea view close to Cala Santanyi
CALA SANTANYI - Ref. 6818 - Price: € 1.850.000 - Tel. +34 971 64 22 54
The ministry of tourism in Madrid were pleased to announce that despite the economic crisis and the state of the Euro,
Spain has broken all previous tourist records. In July 2012 more tourists than ever visited Spain, that is to say 7.7 million.
Compared to July of the previous year, this shows an increase of 4.4%. The Balearics show the second largest increase
just behind Cataluña. The majority of tourists came from Germany, the UK and France.
c) Balearic Islands: best holiday business since 2007 when the crisis began
The Balearics are very pleased to announce that according to hoteliers, this year has been the best year for tourism since
the crisis began in 2007. Although the demand from Spanish tourists diminished due to the crisis, any shortfall was offset
by the demand from other countries. There were significantly more tourists from Scandinavia, Russia, the Netherlands,
France and Italy. Demand from Germany and the UK has remained stable. The hoteliers are very pleased as most of the
guests paid the full brochure price and no ‘discounts’ had to be applied to fill the hotels. Outlook for the month of
September is very positive. Many hotels are already at 80 % and experience shows that September holidaymakers tend
to spend more than their summer counterparts. In the first seven months, foreign tourists spent 5.4 billion Euros in the
Balearic Islands - which is 2.2 % more than last year.
d) Palma: The central government will invest 110 million Euros Palma’s in airport up until 2015
The central government is well aware of the importance of tourism to the Spanish economy and also the important
contribution that the Balearic makes to this economic sector. This was underlined by the Spanish Minister for
Infrastructure, Ana Pastro, during a visit to Palma's Son Sant Joan Airport. For this reason, the central government,
despite budgetary constraints, will make available a total of 110 million Euros for the expansion of the airport between
2012 and 2015. Overall a total of Euros 162 million has been included in the budget planning for Balearic airports.

Mediterranean villa in 1.496 m² of beautifully landscaped garden second sea line
LLUCMAJOR / BAHIA AZUL - Ref. 6815 - Price: € 1.200.000 - Tel. +34 971 66 29 29
e) Son Reus: Mallorca wants to import waste in order to fill the incinerator at Son Reus
There is presently a bill in the Balearic Parliament which will allow the shipment of international waste to Mallorca. In
2013 it is expected that the first shipment of waste from Italy will be received into the Son Reus incinerator. In winter the
incinerator has excess capacity. The incinerator was constructed with a 700,000 ton capacity but at the present time only
480 tons are processed annually. By taking this measure it is hoped to avoid an increase in the collection of rubbish fees.
The opposition parties have already lodged a protest.
f) Mallorca: TUI Mein Schiff seeks employees
TUI is seeking new employees for two ships in their fleet, who will be employed in various areas of work. Amongst
others, new employees are required for the F & B sector, entertainment, guest relations, child care and boutique sales.
The initial contract is for a period of six months. On 21st September there will be a recruitment day in Mallorca, where
interested parties can be introduced to the world of TUI’s fleet. Prior to that prospective employees are able submit their
documents by mail on the following website www.seachefs.com
g) Is Mallorca’s Ensaimada, facing the same fate as the German Dachshund?
In Germany the extinction of the Dachshund is under discussion and the same concern is being shown with reference to
the ensaimada a lard pastry that has shown a dramatic decline in sales and is protected under denomination of origin. In
2004, 235 tonnes were consumed annually; this is now only 136 tonnes. It has also been noted that the number of
businesses producing ensaimadas has reduced from 54 to just 24.
h) Retail sector moans and EROSKI expands
While the retail sector in the Balearic Islands, despite a good season, moans and refers to the poor winter months with
few tourists, the supermarket chain Eroski has expanded enormously. In the first half of 2012, the company opened ten
new stores in the Balearic Islands, Mallorca six to four in Ibiza. Furthermore, 28 more franchise stores were opened;
creating 120 new jobs. By years end 50 new Eroski stores will have opened. The total investment is given as 15 million
Euros.
Modern villa with swimming pool on the seafront in Cala d'Or
CALA D'Or - Ref. 6809 - Price: € 1.475.000 - Tel. +34 971 64 22 54

(3) The law, taxes and finances
Aparthotel directly overlooking the sea in Porto Colom with fantastic views
PORTO COLOM - Ref. 6713 - Price: € 3.500.000 (furnished) - Tel. +34 971 64 22 54
a) Swedish bank SEB offers mortgage loans on Mallorca
For two years, SEB has been active in the real estate market on Mallorca. The international Private Banking unit,
headquartered in Luxembourg and with offices in Geneva and Singapore, offers mortgages for properties in prime
locations on Mallorca aiming for a long term relationship with a minimum investment.
Despite the general trend of credit deterioration, SEB's ranking has been upgraded recently. In the latest list of "The
World's Strongest Banks" released by Bloomberg, SEB ranks no. 19. (Among the top 20 banks worldwide only four are
from Europe.) In the currently difficult market environment, this ranking allows the bank to offer its private banking
clients attractive loan terms throughout the crisis.
Example of the lending limits: The value of an owner-occupied residential property on Mallorca set down in an expert
opinion is 2,000,000 Euros. The lending limit is 1.15 million Euros, with the collateral being 65 % of valuation up to 1
million Euros and 50 % thereafter. Requirements for granting a mortgage loan are a positive cash-flow analysis as well as
the already mentioned minimum investment of 20 % of the loan amount (at least 500,000 Euros).
Would you like to learn more? SEB's private bankers pay regular visits to the island. If you would like to make an
appointment, you are most welcome to call us at +352 2623 2328.
b) Regenerative electricity will be more expensive due to higher taxes
Those investors who have invested in renewable electricity have made the return on capital without the help of the
Spanish government. Additional charges for the energy sector have been announced. Earlier this year incentives were
suspended. Now special taxes will be imposed on the producers of generative electricity. The plan is to tax solar power at
19% and wind power at 11%. Nuclear power will however, receive a 10 year extension. Producers of renewable energy
are already talking about a ‘fatal blow’ to the industry.
c) Limitation period for inheritance taxes: Lawyer Dr. Stiff sees need for action
On the subject of "Omitting to pay Spanish inheritance taxes due to a time lapse" Dr. Manuel Stiff, lawyer, sees the need
for action in an article he has written for Traumimmobilien.
Many purchasers might think at the time of acquisition that if inheritance occurs their legal heirs can sit the situation out.
They could wait with the notarised acceptance of inheritance until the statute of limitations (after 4 ½ years) to pay the
inheritance tax. This was once common practice, but the Spanish government are aware of this loophole, and it is
expected, given the money troubles of Spain that very soon and with retroactive effect, the words "The period begins
from knowledge of the tax office" shall be inserted into the law. There are some old cases where the heirs avoided this
after the decedent died due to a paraphrase. In these cases money can still be saved. But to hope that in the future that
the laws are not updated is too risky. "Attorney Dr. Manuel Stiff - Munster and Palma de Mallorca - www.stiff.com

3. Minkner Art Gallery & Culture
a) Elena Gatti „Intoxicating Tango“ – Exhibition in Minkner & Partners’ main office in Santa Ponsa
Tango is addictive and at the same time therapeutic. Body, mind and spirit blend together with the music and the
movements of dance partners. Each step is a surprise and an erotic game. Elena Gatti’s images delve into the world of
feelings and passion. Men and women merge together in an intimate circle that takes them far from the humdrum of
everyday life. On 1 st September the Minkner Art Gallery presents an exhibition that illustrates the idea of the rhythm of
the music, legs provocatively brushing against one another and arms embracing, thus drawing attention away from the
face and to the detailed and balanced posture of the dancers. Red high heels, the proud tango steps treading the floor,
the rosy arms of the woman who gains inspiration from the intense grasp of her partner who clutches him to her are all
caught on canvas. At the same time one can sense the feeling of give and take between the partners and the mutual
dependency. Two bodies dancing to the sound of the Bandoneón create harmony. Elena Gatti knows what she paints: an
Argentinian herself, she has succumbed to the dance late in life but has fallen in love!!
Minkner Art Gallery – Avenida Rey Jaime I, 109 – 07180 Santa Ponsa, Tel. +34 971 695 255.
Exhibition dates: 01.09.2012 - 31.12.2012 - Opening times: Mo. - Fr. 09.30h - 18.30 h, Sa. 09.30h - 14.00h
b) Antonio Falco ‚ Southeast Mallorca‘ – exhibition in the Minkner & Partner townhouse in Santanyi
Antonio Falco is one of the most famous landscape painters in Spain and his works can be found in various museums and
private collections throughout Spain. In his work ‘The other Mallorca’ he has painted some of the most beautiful places
on the island. 10 paintings from this series are exhibited in Minkner & Partners townhouse in Santanyi and are available
to view during normal office hours.
Minkner & Partner – Plaza Major, 9 – 07650 Santanyi, Tel.: +34 971 642 254.
Exhibition dates: 15.10.2011 - 31.12.2012 - Opening hours: Mo. - Fr. 09.30h - 18.30h, Sa. 09.30h - 14.00h
c) Prof. Jürgen Wölke: Poetic Platform–Assemblage-Exhibition in Minkner & Partners Santa Maria office
The late artist Jürgen Wölke, who died 3 years ago, was the undisputed master of material images - known in jargon as
‘Assemblage’. He performed originally on the war torn walls of Berlin. He depicted popular subjects such as shops,
workshops, Berlin bars and scenes from different professions. Thus he created memorable moments and a historical
documentation of a period in time. The senate of Berlin at that time bought several of Wölke’s works and gave them as
gifts to international state visitors. For this reason many of Wölke’s works can be found in several private collections and
international museums. The last creative years of his life Wölke travelled between Berlin and Palma where he ran a
studio. In which assemblages of the battered facades of Palma’s old town are to be found. Edith and Lutz Minkner have
several of the artist’s works in their collection some of which will be exhibited in their office in Santa Maria.
Minkner & Partner – Plaza Hostals, 8 – 07320 Santa Maria del Cami, Tel.: +34 971 620 138
Exhibition dates: 15.12.2011 - 31.12.2012 - Opening hours: Mo. - Fr. 09.30h - 18.30h, Sa. 09.30h - 14.00h
Peaceful little hotel close to the beach in Cala Millor
CALA MILLOR / SA COMA - Ref. 6086 - Price: € 1.750.000 - Tel. +34 971 64 22 54

1.591 m² plot of prime land with preliminary project for a villa with pool overlooking the sea
4. Events and Tips
LLUCMAJOR / CALA PI - Ref. 6581 - Price: € 1.350.000 - Tel. +34 971 66 29 29
a) 15th September 2012, Samy Jones & Band at the Son Baulo Cultural Centre, Lloret Vistalegre
On 15 September 2012 Samy Jones will present her new album "Travelling Stranger" in the cultural centre Son Baulo.
She has been honoured with gold discs and the Amadeus Award in category "Best Pop / Rock Artist" and represented
Austria in the Eurovision Song Contest. 15.09.2012, 19.30 h, Samy Jones & Band, Son Baulo, admission € 18, from 18.00
h Coffee and cake for € 5, after the concert, dinner for € 24. Registrations: +34 971 524 206.
b) 16th September 2012- 10 th SOS Animal fundraiser in Portals Nous
The protection of animals association SOS ANIMAL, celebrates its 10th fundraiser on 16 th September in popular Portals
Nous port. The event commences at 11.00h and ends with an award ceremony at 19.00h. There is a flea market, a
tombola with attractive prizes, children’s’ entertainment, and music with Son & Holy Ghost, Sweet Girls and Leapy Lee.
There is also a dog competition (the most original mongrel and the cutest ‘big breed’). Proceeds will go to the SOS
ANIMAL society. 16 th September from 11.00h 10 th SOS ANIMAL Fundraiser in Puerto Portals
c) 22nd September 2012, Manfred Kullmann trio at the Son Baulo Cultural centre, Lloret de Vistalegre
The Manfred Kullmann trio (Manfred Kullmann on the piano, Toni Cuenca on bass, Julian Vaughn - Drums) will guest on
22.09.2012 at an open air concert "Rendezvous of classical music and jazz." Manfred Kullmann has edited pieces by Liszt,
Mendelssohn, Chopin, Bach and others for this concert to achieve the highest lyrical grace and melody and includes as
well as a number of his own works with brilliant Spanish touch. 22.09.2012, 19.30 h, Manfred Kullmann trio at Son Baulo
Cultural Centre, admission € 15, from 18.00h, Coffee and cake for € 5 after the concert, dinner for € 24. Registrations:
+34 971 524 206.
d) 23rd September 2012, Matinee with Lydia Maria Bader and Sabine Grofmeier, Hotel Can Bonico, Ses Salines
Lydia Maria Bader (Piano) and Sabine Grofmeier (clarinet) invite you to a Matinee Concert on 23 rd September at 12 h
midday in Ses Salines. The programme includes among others, works from Robert Schumann, Darius Milhaud, George
Gershwin, Felix Mendelssohn Bartholdy and Carl Maria von Weber. 23.09.2012, 12.00 h, Matinee with Lydia Maria Bader
and Sabine Grofmeier, Hotel Ca`n Bonico, Plaza Sant Bartomeu, 8, Ses Salines, entrance 20 €, Reservations:
info@mallorca-cultura.com or Tel.: +34 687 820 567.
e) 29th September 2012 6th Music Festival in the Port of Soller, concert with Alexander Malter and Suzanne Herzog
On 29 th September 2012, the 6 th Music Festival will take place in the Santa Catalina monastery in the Port of Soller.
Alexander Malter (piano) and Susanne Herzog (violin) will perform works by Mozart, Brahms and Grieg. 29 th September
2012. 19.30h Concert in Santa Catalina monastery. Entrance fee: € 25, Reservations: Tel. +34 971 631 441. Details of
festival: www.festivalportdesoller.com
f) Until 5 th October 2012, action of Mallorca magazine "MM special, cheaper golf" - Golf de Andratx
Mallorca Magazin have organised the great MM Trophy which will take place on the "Golf de Andratx" course in Camp de
Mar on 6th October 2012. As a preparatory measure golfers who submit a scorecard and a copy of the current issue of
the magazine Mallorca to the pro shop of the golf course will receive a green fee discount. From 1 September 2012 the
green fee will cost € 110,00. Readers of MM, under the above conditions, will pay only € 75.00. The promotion lasts until
5th October 2012, a day before the tournament.

g) Book review: Michael Vogtmann ‘Zikaden nehmen Hitzefrei’ – Mallorca poems
Michael Vogtmann is a well known actor in both film and television. Now the Mallorca fan has taken pen to paper and
produced a book ‘Zikaden nehmen Hitzefrei’ of poems about Mallorca. A poetic journey through Mallorca full of irony and
melancholic insights, all accompanied by evocative photos of the artist Brigitta Nottebohm. Michael Vogtmann ‘Zikaden
nehmen Hitzefrei’ –poems about Mallorca with photographs from Brigitta Nottebohm. Hardcover: € 19,90 in bookstores
or at www.allitera.de
h) TOP AS – Accessories and shoes comes to Palma
Since 1982 TOP AS has maintained shops on Mallorca. Now Michaela Hüffer has opened a new shop in the heart of
Palma in Calle Constitución, 7, Tel.: +34 971 715 902. Here you can find heavenly shoes at divine prices e.g. Stuart
Weitzmann, Pons Qunintana, Mania, Heaven on Earth and Magrit. TOP AS other shops can be found in Andratx, and
Santa Ponsa. (Outlet store with up to 40% discount), www.top-as.info
Imágenes dicen más que 1000 palabras. Visítennos en Youtube – Minkner TV
5. Edition Notice
Cosy restaurant in Palma centre - Traspaso
PALMA - Ref. MG1017 - Rental price: € 1.000 - Tel. +34 971 66 29 29
The „Newsletter of Minkner & Partner S.L.“ is published fortnightly. As a client of Minkner & Partner PROFI KONZEPT S.L.
you receive it via E-Mail. Responsible in terms of Press Law is Dipl. Jur., Ass. jur. Lutz Minkner, c/o Minkner & Partner
S.L., Avda. Rey Jaime I, 109 – 07180 Santa Ponsa, Phone: +34 971 695 255, info@minkner.com, www.minkner.com and
www.immobilien-news.com.