Price reduction to attract buyers

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VALLDEMOSSA: The villa is located close to the town.

THE beautiful Mallorcan villa owned by Hollywood power couple Michael Douglas and Catherine Zeta-Jones, has become slightly more affordable after roughly eight million euros (unofficially) was knocked off the asking price.

Potential buyers will have to be fairly flush as the 247 acre estate will still command an asking price of at least 40 million euros, according to Sotheby’s Mallorca office which handles the property. 

Known as S’Estaca, the Valldemossa villa was first purchased by Douglas with his first wife in 1989, for just over three million euros. The Oscar winning actor and producer forked out even more money on elaborate renovations, including a home cinema, huge vineyard and private library. 

 With more than 10,000 square feet of prime space and magnificent sea views, Douglas has had the vineyards and olive groves tended for more than 20 years, entertaining fellow Hollywood legends Jack Nicolson and Michelle Pfeiffer along the way. 

The presence of Douglas and Zeta-Jones has been relatively muted in recent years, the property went on sale in late 2014, although the significant investment required made it a hard sell.

Mallorca has a long and glorious history as a prime destination for the world’s wealthy elites. Earlier this summer Brad Pitt bought himself a 3.5 million euro villa in Port d’Andratx, having spotted it while filming on the island.

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