Property

Michael Douglas estate on sale for almost half the original price

S'Estaca in Valldemossa. | Archive

Majorca Daily Bulletin reporterValldemossa18/03/2018 00:00

The S'Estaca estate in Valldemossa, property of Michael Douglas and his ex-wife Diandra Luker, has been up for sale since 2014. It was originally placed on the market at 55 million euros. The price has gone down three times since then: firstly to 48 million, then to 36.5 million last summer, and now to 28.5 million. There have been offers, but none of them have ended in a sale.

Engel & Völkers is managing the sale on a semi-exclusive basis through its Private Office for its preferential clients. Other estate agencies also list it.

Diandra Luker said last year that after the estate is sold, she will continue to live in Majorca, as she has been doing since she was a child and as she did for twenty years while married to Michael Douglas. The actor is now an irregular visitor to Majorca. He is following the sale of the property from the US.

* S'Estaca was once the property of the Austrian Archduke Louis Salvador. He bought the estate as a form of gift for Catalina Homar, with whom he had a relationship. The archduke wanted her to have a finca to run, she already having proved that she was capable of doing so at another of the Archduke's properties, Son Moragues. The couple made various trips overseas, but they were to separate while in Venice. Catalina died in 1905. The Archduke died ten years later, having had to leave Majorca at the outbreak of the First World War.