13 Oct, 2019 @ 11:30
1 min read

Brexit is paralysing Mallorca’s property market, but high-end buyers are still steaming ahead, writes Amanda Butler

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BREXIT: The upcoming deadline is having a dramatic effect on Mallorca’s property market

THE run-up to Brexit Fright Night continues with Boris Johnson throwing out the bait from his (fishing) rod of the possibility of a new deal that the EU must consider, with the official EU stance being that a deal based on the new proposals was ‘overwhelmingly unlikely.’

So is he or isn’t he a fantasist – scary scenarios ensue with 20 days to go, and none of us are any the wiser.

Oh my, are the Brits going down in history as the laughing stock of Europe.

It is frightening to remember there’s only one more Olive Press article to write between this and October 31!

It’s not quite ‘business as usual’ in Mallorca and the Balearics, as many real estate agents continue at a slightly different pace than in previous years.

Of course the situation is not the same for everyone, and there are plenty of agents super busy at present, albeit not rushed off their feet with many British clients.

As part of my bespoke services, not only do I represent clients acting exclusively as a buyer’s agent, but I also extend my services to owners wanting an exclusive seller’s agent service.

I have recently taken on a wonderful classical style Mallorcan mansion house in Old Bendinat, 7 bedrooms, lovely flat plot of 1800 sqm with stunning sea views.

As an aside I consider Old Bendinat as one of the most desirable locations in Mallorca to live. It is very exclusive, has stunning sea views, is walking distance to the sea and has plenty of shops and services.

It is only 5 minutes to Puerto Portals, as well as only being 10 minutes from Palma and 15 minutes to the airport (THE perfect location in my mind).

Anyway, it’s been an interesting exercise, contacting various agents on behalf of the owner – and is quite an interesting alternative perspective from an agent-turned-owner’s representative’s viewpoint.

Around 80% of customers are reflecting how quiet the market is, with not much interest, while 20% are super swift in reacting to the latest details and are now awaiting viewing dates.

I’m not really sure what the recipe for success is, but according to the 20%, business is still steaming ahead, and in the 8 million-for-a-house region, things are still going strong.

This will give comfort to many looking to sell at this moment in time.

Amanda Butler

Amanda has grown up and lived all over the world, but settled in Mallorca more than 15 years ago. Originally from the UK, she is a well known figure on the island, having run successful property business MCJ Associates for many years.

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