AS has long been predicted, the property market in Mallorca appears to be following the dynamics of other premium locations across the globe including London, Barcelona, New York and Paris. With the combination of ease of access internationally, high quality of life, services and amenities, not to mention stunning and diverse scenery and activities the island has to offer, it’s no wonder prices this year have soared in all regions of the island.
With the easy flow of international money exchange and investment, increasing globalisation and continued government investment, this is likely to continue for the foreseeable future. We are of course experiencing the natural lull in winter activity, much welcomed in many respects allowing all to recalibrate after the hectic crowds and pace of summer, but more importantly permitting a much needed regeneration and cleansing of our waters, which is a key attraction to the island, on which we need to more focus more actively to protect in order to maintain our increasingly strong reputation.
With that in mind, and as an aside, I would like to highlight the work and dedication of Brad Robertson , someone I greatly admire on this island. Brad is an Australian diving enthusiast who started an outdoor pursuits and diving business here in 2009, and is now spearheading greater awareness and protection of the waters around the Balearics with his Asociación Ondine and Dos Manos Beach cleanup initiatives. I salute you Brad for your much needed work with locals and residents alike, not to mention the marine industries who all need to take much greater care in their use and activities in and around our precious waters. Anyone interesting in supporting Brad´s work please go to www.asociacionondine.org.
On another altruistic topic I would also like to highlight an association close to my heart – the JoyRon Foundation – which supports children in need and those in palliative care on the island. As Christmas approaches and as a great way of supporting this most worthy of causes, we have designed a stunning ‘Diversity of Mallorca’ calendar depicting the wide array of activities and produce we have to offer, set to some iconically beautiful scenery. At a minimum donation of €12.50 each, this high quality A3 plus calendar makes a great Christmas present for friends, family alike. To order yours, please go to joyronfoundation.org.
Returning to real estate…. With the increase in property prices, one needs to reflect on the negative impact on the local populace who are finding it increasingly difficult to find affordable housing on their mostly service- related incomes. Recent holiday rental legislation may help to ensure more long term rental property availability and more modest increases, but this will not solve the problem. The local government will have to consider a stronger focus on affordable social housing projects along the lines with those in London, as well as of course ensuring a steady increase in wages, which are well undervalued at this time amongst a booming higher end tourism industry.
After 15 years of living and working on this island, life has never been dull but certainly the next few years will be interesting times on both infrastructure and in the property market. Oh to have a crystal ball!!!
If you are looking for personalised and discreet property advice, whether buying or selling, it would be a great pleasure to hear from you.