Costly bargain Michael Douglas drops price of his home in Mallorca

Costly bargain, €21.1 million off. Credit - Wikipedia

SOMETIMES you have to be realistic when you want to sell your house, as actor Michael Douglas has realised as he reduces the price tag on his Mallorcan villa by €21.1 million.

He originally put s’Estaca up for sale in 2014 at a whopping €50 million. Over the years he has failed to find anyone willing to pay that sort of money, and so has gradually brought down the asking price.

It can hardly be described as cut-price though, as it is now being marketed at €28.9 million.

The estate has seven buildings containing five apartments with 10 separate rooms and sleeps up to 20 people. The main buildings are built on a 1,000 sqm plot of land with 100 hectares of land with vines and olives.

The actor has also leant his voice to a promotional video in which he explains the history of the estate, which began when Archduke Lluis Salvador bought a piece of land on the west coast of Mallorca “to start creating a magical retreat” in the 19th century. Douglas says: “He fell in love with Mallorca, very different from the formality of the Royal Court of Vienna. Empress Sisí of Austria visited him many times on the Archduke’s private boat, anchored in front of S’Estaca in the protected port of Sa Foradada.”

He adds: “My life has taken a new course and now it is time to let someone else enjoy the privilege and adventure of s’Estaca, someone who appreciates the beauty, privacy and unparalleled views.”

The property was acquired by Douglas and his then wife, Diandra Lucker, in 1989 for ‘just’ € 4 million.

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Dilip Kuner

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