In 2008, when the rest of the world is coming to terms with
recession and slowdown in the real estate markets, Mallorca real estate
is seeing stability. Majorca as it is sometimes known is one of the most
important Balearic Islands that offer some stunning properties in the
form of cottages, apartment, single owner homes, and sprawling villas.
It is a dream destination for several Europeans with 70% of the
investors being Germans.
The demand for real estate property in
Mallorca continued through 2007 and is still there as we stand at the
end of 2008. If you are planning to buy a home in Majorca then there are
several benefits you can derive apart from the fact that the price tag
is not as high as you would expect from an island that has so much to
offer. As of date, there are 54,000 EU residents including 19,623
British investors and home-owners who have brought properties here and
have settled down as well. The permanent foreign community in Mallorca
is 16.8%, which is the highest in Spain and includes people from the UK,
France, Germany, Italy, and South America. As a result, there has been a
31% increase in the overall population of Mallorca, which is now
791,000. Why is Mallorca real estate so popular?
There are many
faces of Majorca and one of them is natural beauty accompanied by
therapeutic experience. Imagine having a home on a cliff that has
mountains dominating on one side and the clear blue sea on the other.
There is no dearth of flora and fauna in Mallorca and above all, there
are no eye sores on the entire island. If you are planning to buy a home
in Mallorca, then one of the salient points is that the cost of living
is low and there is a lot of activity that you can be involved in. You
can laze around in the sun or take a dive in the ocean to get to close
to the exotic marine life. You can spend your weekends playing golf or
take your family for a beach adventure.
The most popular property
type in Majorca is apartments and they are available from EUR100,000 to
EUR700,000. Each apartment in Mallorca has its own charm and is situated
in the best possible locale so that you can enjoy the true essence of
this Balearic Island.
