Tom Powell
HOUSE prices in Mallorca are rising even faster than London’s most fashionable boroughs, according to a new report.
The island has topped the bestseller list of UK agency Chesterton Humberts, coming even higher than the boroughs of Kensington and Chelsea and Westminster.
In the past year, prices in Mallorca have increased by 15.8%.
A more balanced report here, stating that it’s a “tale of 2 cities” (Madrid and Barcelona where the main demand for homes will surge). “http://www.bloomberg.com/news/2014-06-12/spanish-lending-revives-with-housing-prices-hitting-floor.html” “While Spain’s jobless rate is at 25 percent, the statistics agency INE confirmed that growth accelerated to 0.4 percent in the first quarter, twice as fast as the euro region average. Imports are surging, indicating that Spaniards are spending again after closing their wallets amid the toughest austerity measures in more than 30 years. “
The Spanish are opening their wallets and spending? How do you spend moths?
“according to a new report,” What a joke. No doubt published by “experts” Or rather Estate Agents!!!
Have you actually seen how fast London prices are rising.
Stuart, Chesterton Humberts,have morphed several times, from Humberts, then plus Chestertons, then back to Chestertons on their own in SE England. They are a franchised group who give the impression they are an upper class estate agent as Foxtons did before being hauled over the coals for dodgy practices in the UK (rather like Spanish agents).
Where we live, to get properties they inflate prices, advertise for a while, may get lucky (but buyer gets unlucky by overpaying, if no sale, they out the properties to a similar styled agent in the same town and vice versa. The other agent does the same, they ‘ring fence’ the same properties if they can’t sell and then drop the prices.
I wouldn’t believe their blurb about Majorca compared to London, this agent is in cuckoo land.