Despite the real estate and economic crisis in Spain in the recent years, luxurious property prices in Mallorca are continuously on the rise. The increased interest in luxurious proprieties in Mallorca not only comes from individual and private sector, but also the commercial sectors and private equity buyers.
Estates in Mallorca in vogue?
There are a few factors that have contributed in the extreme increase in demand for real estate in Mallorca. Firstly, the increasing popularity of the island as holiday destination among tourists around the world. Mallorca is so attractive for foreigners because it is easily accessible from Ireland and UK as well as Germany and Scandinavia. This actually has impacted on people entering Mallorca’s real estate to enjoy the benefits associated with tourist attractions. It has over 280 days of sunshine annually, 25 marinas, 23 golf courses and the most stunning scenery in Europe. Thus Investors are coming for either personal or professional purposes. Secondly, Mallorca has always understood the significance of foreign investment and makes legal procedures and property acquisition simple with minimal language skills needed. It has a resourceful infrastructure that offers all the necessities for real estate owners in terms of property management companies like Dahler & Company Mallorca, which not only support clients before and during the purchasing process but also after and security services like trablisa.
The Future of Real Estate in Mallorca
It seems as if Luxury property prices will continue to increase. This is because there is limited land available for new construction, thus any luxurious property existing in Mallorca will be in higher demand, especially in Palma de Mallorca, Puerto portals and Puerto Andratx as well as seafront properties. It is also a good investment entity on long term real estate due to its high demand in foreign tourism.
Remember, Mallorca has regained its confidence, and now is the best time to either buy or make sound investment in real estate. So if you want to buy a property be fast and you may be certain it will not be a bargain.
Photo Credits: Dahler & Company