Majorca Property News

Mallorca Real Estate: The housing market is recovering


The bottom appears to be overcome. About Easter in Mallorca were sold so many homes for years now no more. The real estate Broker AM Inmobiliaria y Promociones Mallorca SL real estate records, according to the CEO Andreas Meier, for the first quarter 2010 revenue growth of 80% rich in comparison to last year.

An apartment or a house on Majorca is the dream of many a German. On the high demand, the island had responded: In the past decade were set up in Majorca countless homes. But then came the big break: The financial crisis has brought the Spanish and Majorcan property market in particular really stopped. Instead of buying a holiday home or a retirement home on the island, many buyers have held back.
Meanwhile, the real estate business but is back on track: The real estate sales on the Spanish island of pulling back. There are more and more people opt for a purchase. This is also visible in the financial market: The number of completed financing is said to have risen by 27 percent.
That put the property sales in Majorca again, is more likely to develop in house prices due. Parallel to the financial crisis has caused a housing crisis in Spain: Due to the sudden lack of buyers and an oversupply of homes have collapsed, house prices strong. Because the market is recovering slowly, buyers have the chance to dream of their own homes in Mallorca to realize relatively cheap. While most items are offered at prices that were required before the crisis, but there is a large room for negotiation. In the segment of low and medium price region (up to about half a million euros) discounts are common in the amount of about 15 to 20 percent. The only exception is the market for luxury homes: where property prices are considered very stable.