Majorca Property News

Mallorca real estate: The sale of villas and apartments is increasing significantly

Now is probably the best time for buyers to strike in the property market in Mallorca. In many regions moderate price increases are again observed.

Only two of the autonomous regions of Spain - Mallorca and Asturias-point from December 2009 to December 2010 a positive price increases of residential property. While Mallorca can proudly won 2.9% price increase, Asturias is well behind with 0.4%.
This development shows that the Mediterranean island of Mallorca still stands for solid investment opportunities in real estate. Buyers continue to invest in existing properties, land and building projects. Particularly in the light of a possible inflation offers home ownership a solid pillar in capital interest and ensure good use. The perfect connection with a wide route network in all major cities in Europe makes Mallorca an interesting holiday destination for businessmen who wish to use their property on the island several times a year.
Add the great infrastructure: the new highways shall pay particular attention to the east and south for a much faster connection to Palma and thus also to the airport. Accordingly, just this region was more attractive to prospective buyers. Right here you will find an idyllic, wide landscape with lush vegetation, combined with beautiful sandy beaches and coves.
Mallorca property market is benefiting from the continuing unrest in North Africa. Libya, Egypt, Tunisia, Morocco - from the crises in North Africa, the tourism industry in Spain and get straight to the Germans prefer sunny island of Majorca: Book now hundreds of thousands of tourists instead of Mallorca Cairo or Rabat. It could be that the hotel beds and rental houses on the island in summer, almost says the Balearic Federation of Travel Agencies AVIBA. The holiday rush makes them suitable for real estate brokers between Arta and Antratx and Sóller and Santanyi, as "alive with a thriving tourism and real estate business."
The highest prices of the island requires unchanged in Puerto Andratx. This is followed on the popularity scale, the regions to Santanyi and Llucmajor. No longer an issue in July 2010 raised the Spanish VAT. Instead of 16 percent since then have 18 percent paid on the purchase price for building land. In addition one percent stamp duty. For re-sales of real estate is unchanged real estate transfer tax to seven percent.
Spanish banks are also award back loans to non-residents of up to 70 percent of the property value, and interest rates still low