Property of Majorca Mallorca

With some of Spain's leading internet and real estate				project for the Jumeriah group at Puerto Soller,
companies selling more property in Mallorca than the				which had been stalled for the past eighteen months.
rest of Spain put together in 2010 you might be
wondering what makes Mallorca Properties so special.				As investment in the island gathers pace again,
				agents are confident the market will begin to move
On the face of it one finds it hard to fathom with				forward in 2010. The banks are lending once more
real estate prices not being reduced nearly as much				and exchange rate forecasts indicate a positive
as they are on the Costas of Spain. Mallorca is a				change ahead for British buyers though it may be
relatively small percentage of the International				very gradual.
property market in Spain about 20% if you exclude
Madrid and Barcelona which tends to be a different				Demand for property from throughout Europe
type of buyer and market. So if you take some				continued throughout 2007, and most property
national real estate companies figures Mallorca is out				professionals on the island reported steady interest
performing every other area in Spain by at least				and sales, with increased activity at the upper end of
three to one.				the market especially. Prices continue to rise, although
				at a reduced pace, as sellers are being more realistic
There are two major reasons for this in that Mallorca				in their asking prices.
to use a UK example is the London of the Spanish
real estate market. There just isn't the oversupply				Improving marina facilities throughout the island,
that you have in other areas of Spain Property				continual restoration projects in the countryside to
Majorca, Mallorca and because of the strict planning				maintain historic buildings and walls make Mallorca one
laws applied by the Balearic government you don't				of the Mediterranean's most sought after places to
have supply outstripping demand. Obviously the				own property. Mallorca's foreign community - one of
market was affected by the Spanish property				the largest in Spain - continues to thrive. Tourism is
recession and property prices did fall but not nearly				the mainstay of the island along with property and is
as much as the rest of Spain.				continuing to become more diverse and upmarket,
				attracting visitors from all over the world. There are
So what about the future for Mallorca property				now many more five star hotels and with 24 UK and
during the rest of 2010 and beyond. I believe there is				21 German airports providing flights to Palma, the
a window of opportunity for people to still get a				island's convenient location and popularity looks
good deal but come 2011 I think you will start to see				unlikely to diminish in the foreseeable future.
small price rises of 1% or 2%. The other interesting
factor in Mallorca is that its here where property				More recent origins of Manacor town pre-date the
investors are buying because they know unless they				Islamic occupation of Mallorca. Unsurprisingly, there
are completely stupid they wont lose money and				are a significant numbers of artifacts proving the
most property investors that are around today are				existence of early Christian culture. Recovered from
not stupid.				the shores of Porto Cristo, these substantial
				discoveries teach us that this small port close to
Other smaller factors that effect the Islands				Manacor was a very popular destination with the
popularity include is the fact it is known as the Kings				well-traveled and well-heeled Romans. Probably one
Island because this is where he likes to spend his				of the Romans earliest legacies to be found here, are
free time and the diverse international make up of				the ruins of the basilicas at Son Peretó and Sa
the island with a large German, UK and Scandinavian				Carrotia. Anecdotally, they may also partly be to
community				blame for the large number of horse racing fans in
				Manacor, who still today support the regular chariot
So my advice would be if you're seriously interested				races held at the hippodrome.
in the islands real estate you should make that
investment some time during 2010.				Bronze age history tells us that the first signs of
				human occupation in the Manacor area can be traced
In highly attractive areas such as Puerto Andratx,				back to around 2000-1200 BC. Some of the earliest
prime property correctly priced will sell quickly.				evidence is found in the form of artificial coves
Shortly after hitting the market at €8.6m, a top				known as ‘cova de s'Homonet', which were once
quality contemporary villa in Cala Marmacen sold for				used as burial places and are located at Son Ribot,
well over €8m. It's no longer the case that				Other coves signifying early signs of civilization were
location alone will command top prices as discerning				discovered at Sa Sínia, ‘Mitjà de ses Beies' and
buyers in today's market are looking for value.				also at Sa Nova. Primitive habitations, or early forms
				of property, resembling ‘naveta' type buildings
Whether the market has bottomed out remains to				were also found in both solitary and community
be seen. The decline in prices seems to be generally				formations around sa Marineta and s'Hospitalet Vell,
slowing and there are reports of the first green				indicating the birth of the manacor municipality and
shoots of recovery in the ailing economy. Work has				the Talaiot culture on Mallorca.
recently resumed on an ambitious, luxury hotel