The Summer of 2013 saw more activity and optimism for Mallorca’s second home and residential market, with an increase in enquiries and visits, whilst sales in some areas doubled compared to 2012
Since the end of 2008 vendors have had to adjust their pricing strategy to sell in the current market and prices overall have reduced by an average of 15-30% depending on location.
The outlook for 2014 is that prices are NOT decreasing further, the market is stable with price levels now steady. Increased sales activity from the German and Scandinavian markets in the second half of the year also reflects what most people believe – that prices will increase as demand outstrips supply, so now is the time to invest.
Further indications of the opportunities in the Mallorca Property Market have continued to appear recently in the press:
Sunday Times “In troubled times, old favourites fly high”
“Spain: Stop writing off the country as one big disaster area, we need to start distinguishing between the good quality and the appalling, and which are amongst the prime locations where we should be buying? Puerto Andratx on Mallorca.”