Majorca Property News

Mallorca real estate: Property sales in Mallorca are back at pre-crisis level

good sales in early year confirm the trend from the previous year and are a clear indication that the property market in Mallorca left the crisis behind it.
The real estate broker “AM real estate Majorca” in Santanyi recorded in the first weeks of the year again a significant increase in demand and sales. Leaders in the acquisition of real estate are still the Germans with a market share based on the half on both the revenue and the number of sold properties. But the British love for their customers Mallorca have rediscovered. Compared to the previous year, the English questions prospective buyers have more than doubled. The entire real estate sales in € assert British buyers with 25% market share of second place before the Spaniards (18%). Calculated on the number of homes for sale in January and February are the Spaniards (29%) even before the English with 16% of all sale items. These numbers show that the UK customers are increasingly focused on high-quality vacation homes, and the recovery of the economy in first with the higher income brackets fruit.
Interested in the Spanish still needs between local Mallorcan customers for the first home buyers market and are differentiated from the mainland. The demand in the local real estate market continues to tend toward zero, but the interest for holiday homes and second homes for customers from the mainland has tightened slightly. This difference is certainly due to one of the bad economic situation on Mallorca and the related general reluctance of banks to real estate financing, on the other hand, the banks preferred to try the many homes for sale directly from their own stock. Complain value in this context, the behavior of almost all Spanish banks but assure the customer a real estate financing, but subject only to finance property purchases from their own stock. Loan applications for the purchase of foreign real estate is almost invariably rejected. Such behavior is counterproductive and is also sure not contribute to the recovery of the local housing market. This quick thinking is required.
In the long-term rentals, the demand is constantly high, however, identify a clear trend towards to high quality rental properties. More and more potential buyers decide at once for a period of time for a "trial stay" in a rental property to buy in peace after property search.