Majorca Property News

Mallorca real estate: The number of property sales in Majorca rises


The number of sales of real estate in Mallorca has increased in the first quarter of 2010. Discounts are not expected.

The number of home sales in Mallorca has risen again slightly. So loud were figures of the Spanish housing ministry in the first quarter of 2010 7.8 percent more homes sold in the Balearic Islands than in the same period last year. Year on year, especially, the number of new apartments sold, after it had fallen since the outbreak of the housing crisis or had stagnated. So be it finally been possible to reduce the number of unsold new homes on the Balearic Islands, says the industry association. But there are still buyers for about 6,000 completed homes were needed.

The developers hope that will be handled due to the forthcoming rise in VAT in Spain, a greater number of sales. They point also to the impulses through the first real estate fair in Palma, which took place several weeks ago. Further price reductions are not expected.

Commercial Properties in Mallorca in great demand

The Real Estate Agents AM Inmobiliaria y Promociones real estate Mallorca recorded an increased interest of investors in commercial real estate in Majorca. Industrial estates, industrial halls and hotel properties are since the beginning of the year, particularly in the focus of investors from home and abroad. In this segment, in the first four months of the full last year revenue has be exceeded.