HAVING been in the UK for Christmas and not seen the sun once during the 7 days we were there – just cloud and rain, with a hazy glow at the very best of times – it was good to get back home in Mallorca for the New Year in the sun (not that I´m complaining about the UK as we had a lovely time in the beautiful scenery of the West Country – but oh boy is the weather depressing?!).
Anyway, we decided to nip up to Na Burgesa (the Statue of Christ above Genova) to see in the New Year with a group of friends. It was a cool and slightly hazy night – one day off the full moon – and quite a spectacle from our vantage point as the city scape of Palma below us seemed to explode with fireworks at midnight. A great way to see in 2018, sending into the ether all our hopes and wishes for the year to come as we surveyed the beautiful city where we live. We finished off the evening watching the London fireworks on TV, which I have to admit were difficult to beat and it does make one proud to be British in another sense. Am I alone in feeling this has become some kind of international competition that starts in Auckland and ends in San Francisco?! (“My firework button is bigger than yours”…?).
As the New Year arrives, the property market is always quiet in the hibernation and slumber between the old year and the new. Waiting for people to review their lives, their hopes and dreams – and possibly adding “buy a property in Mallorca” to their Wish List !!! I truly believe life is short – we need to embrace it with passion and gusto – and not let the fear of the unknown hold us back.
With respect to property (and that´s what I´m supposed to be writing about!), there doesn´t appear to be much to fear about investing in Mallorca and the Balearic Islands at present.
Property investment forecast for Mallorca and the Balearics for 2018
Interest rates in Europe have never been as low as those we have seen for the last six years. With the European Central Bank striving to confirm the long-term policy of low interest rates, it does not appear that the scenario will change for the foreseeable future from the point of view of the investor.
This means that returns obtained through savings, deposits, and investment funds will remain low. Thus for prudent and moderate investors, who are seeing these reduced returns on their short, medium, or long-term deposits, Spanish property investment continues to makes sense. The ease of use of internet portals providing direct booking facilities for holiday rentals have made property an even more desirable investment, despite recent Spanish government legislation coming into play to gain more control – and of course to get their share!
This fact, accompanied by the threat of terrorism in many regions around the globe, has reaffirmed the Balearic Islands real estate sector as an interesting investment for those who are looking for a safe return, with a high growth perspective in the medium-long term.
Even in times of economic instability with Brexit and unanticipated governmental changes globally, the Balearic Islands received record breaking visitor numbers and when figures are released for property sales later in the month, we are expecting them to outstrip any figures of the past, with the lower risk-factor in property investment being a key aspect.
So… If you are reading this from your home country, where you don´t see the sun for days on end – and the thought of buying abroad has been in your mind for some time – then take a pen and add “Buy a property in Mallorca” at the top of your 2018 resolution list and give me a call ;)! I would be delighted to hear from you and help make your New Year´s resolution come true.
P.S – We do get over 300 days of sunshine a year and oh boy, does the sun make you feel so much better!
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