Majorca Property News

Mallorca Real Estate: Also rising demand for property in Majorca with local buyers

Contrary to earlier forecasts, the companies laid growing demand for new homes


The Balearic contractors will have sold by the end of 4000 completed dwellings. That's about 1000 housing units more than one still at the beginning - had predicted - and in the middle of the building crisis. Due to the rising demand, the stock of unsold new flats will reduce the next year to 3700 instead of the previously projected 4700 residential units.

Given this outlook, the association president of the Balearic Contractors, Gabriel Oliver, reviewed the situation confidently. "The development of home sales in the past seven months for us is extremely positive and our expectations," said Oliver.
The President believes that the stock of unsold new apartments by mid-2011 will be melted. This would allow the construction start engine again in the Balearic Islands.
Prerequisite is, however, that on the one hand, the banks give up its attitude of refusing credit enhanced and the other, the politicians, "their homework" did. Construction projects were still some 1,500 housing units because of unsettled legal issues blocked by the land-use plans, although the municipal permits already existed. "As soon as may be re-built, these projects will be taken first thing in attack."

Real estate sales increased again in Mallorca

Also German and English customers buy again strengthened property in Mallorca. The real estate broker AM Inmobiliaria y Promociones Real Estate Majorca in Santanyi in the third quarter once again a significant increase in purchasing accounts. Compared to the first half of 2010 the number of sold properties is again increased by 15%. The highest growth rates were recorded in the commercial real estate and cheap fincas. The demand for luxury villas and country houses and apartments with sea views has remained stable at a high level.

Number of foreign tourists has increased significantly

The number of foreign tourists in Majorca has risen once again in August. According to the survey Frontur of the Spanish Ministry of Tourism were 10.9 percent more tourists than last month to the Balearic Islands, a total of 1.6 million. In particular, the number of Dutch tourists have risen. The increase in the first eight months of falls was lower at 0.5 percent, were counted since the beginning of a total of 6.8 million foreign visitors. Spain wide, the increase was four percent in August, the number of tourists in the fourth month in a row.