Property Of Majorca Mallorca

By Author: Mohan Chen
Total Articles: 431
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With some of Spain's leading internet and real estate companies selling more property in Mallorca than the rest of Spain put together in 2010 you might be wondering what makes Mallorca Properties so special.

On the face of it one finds it hard to fathom with real estate prices not being reduced nearly as much as they are on the Costas of Spain. Mallorca is a relatively small percentage of the International property market in Spain about 20% if you exclude Madrid and Barcelona which tends to be a different type of buyer and market. So if you take some national real estate companies figures Mallorca is out performing every other area in Spain by at least three to one.

There are two major reasons for this in that Mallorca to use a UK example is the London of the Spanish real estate market. There just isn't the oversupply that you have in other areas of Spain Property Majorca, Mallorca and because of the strict planning laws applied by the Balearic government you don't have supply outstripping demand. ...
... Obviously the market was affected by the Spanish property recession and property prices did fall but not nearly as much as the rest of Spain.

So what about the future for Mallorca property during the rest of 2010 and beyond. I believe there is a window of opportunity for people to still get a good deal but come 2011 I think you will start to see small price rises of 1% or 2%. The other interesting factor in Mallorca is that its here where property investors are buying because they know unless they are completely stupid they wont lose money and most property investors that are around today are not stupid.

Other smaller factors that effect the Islands popularity include is the fact it is known as the Kings Island because this is where he likes to spend his free time and the diverse international make up of the island with a large German, UK and Scandinavian community

So my advice would be if you're seriously interested in the islands real estate you should make that investment some time during 2010.

In highly attractive areas such as Puerto Andratx, prime property correctly priced will sell quickly. Shortly after hitting the market at €8.6m, a top quality contemporary villa in Cala Marmacen sold for well over €8m. It's no longer the case that location alone will command top prices as discerning buyers in today's market are looking for value.

Whether the market has bottomed out remains to be seen. The decline in prices seems to be generally slowing and there are reports of the first green shoots of recovery in the ailing economy. Work has recently resumed on an ambitious, luxury hotel project for the Jumeriah group at Puerto Soller, which had been stalled for the past eighteen months.

As investment in the island gathers pace again, agents are confident the market will begin to move forward in 2010. The banks are lending once more and exchange rate forecasts indicate a positive change ahead for British buyers though it may be very gradual.

Demand for property from throughout Europe continued throughout 2007, and most property professionals on the island reported steady interest and sales, with increased activity at the upper end of the market especially. Prices continue to rise, although at a reduced pace, as sellers are being more realistic in their asking prices.

Improving marina facilities throughout the island, continual restoration projects in the countryside to maintain historic buildings and walls make Mallorca one of the Mediterranean's most sought after places to own property. Mallorca's foreign community - one of the largest in Spain - continues to thrive. Tourism is the mainstay of the island along with property and is continuing to become more diverse and upmarket, attracting visitors from all over the world. There are now many more five star hotels and with 24 UK and 21 German airports providing flights to Palma, the island's convenient location and popularity looks unlikely to diminish in the foreseeable future.

More recent origins of Manacor town pre-date the Islamic occupation of Mallorca. Unsurprisingly, there are a significant numbers of artifacts proving the existence of early Christian culture. Recovered from the shores of Porto Cristo, these substantial discoveries teach us that this small port close to Manacor was a very popular destination with the well-traveled and well-heeled Romans. Probably one of the Romans earliest legacies to be found here, are the ruins of the basilicas at Son Peretó and Sa Carrotia. Anecdotally, they may also partly be to blame for the large number of horse racing fans in Manacor, who still today support the regular chariot races held at the hippodrome.

Bronze age history tells us that the first signs of human occupation in the Manacor area can be traced back to around 2000-1200 BC. Some of the earliest evidence is found in the form of artificial coves known as ‘cova de s'Homonet', which were once used as burial places and are located at Son Ribot, Other coves signifying early signs of civilization were discovered at Sa Sínia, ‘Mitjà de ses Beies' and also at Sa Nova. Primitive habitations, or early forms of property, resembling ‘naveta' type buildings were also found in both solitary and community formations around sa Marineta and s'Hospitalet Vell, indicating the birth of the manacor municipality and the Talaiot culture on Mallorca.