As the temperatures have steadily risen this summer to higher than normal levels so have the property prices by equally substantial percentages, the first line sea view apartments to the heady heights of €9,000 a sqm in areas such as Illetes and Portals.
Visitor numbers continue to increase, demand continues to rise with the Scandinavian market taking over in some locations. One wonders if this is sustainable at this rate – but most in the business believe it still has a long way to go.
In my mind country property is still the best of the buys, but it rising at a much more slow and steady pace, and with current market trends has a long way to go. Thankfully, to date our infrastructure, despite the current massive tourism onslaught, seems to be withstanding the weight.
With the continued uncertain geo-political back drop (hopefully by the next Olive Press due date the US will not have waged war with North Korea, or visa versa!!), and with the lack of available product, this sellers market looks set to continue. We all knew Mallorca was in for a substantial rise but, goodness, don´t I wish I´d had a crystal ball, even just last year ;)!
Hot property of the week
FRONTLINE RENOVATION PROJECT – SW
Fabulous renovation project opportunity with direct access to the sea and local beach. Plot: 900 m² Living: 300 m². Currently 4/5 beds, 4 baths, roof terrace, flat garden and large terraces. Stunning views, only 15 minutes to Palma.
Careful landscaping would ensure great
er privacy from the neighbouring properties. Price On Application. Ref Nr 07015 www.mjcassociates.net
Contact Amanda J Butler – Your professional one stop property advisor for Mallorca +34690075169