A welcome shot in the arm for the Mallorcan property market as signs of confidence improve.

Most people who have visited the lovely island of Mallorca have been captivated by the island’s unique charm and beauty. And many have dreamed of one day owning their own Majorcan property where they can enjoy everything the island has to offer.

Well, now much of Europe is beginning cautiously to pull out of economic recession, the property market in Majorca is currently experiencing something of a shot in the arm.

Amazingly, property prices in Mallorca are rising faster than even the most popular hotspots in London such as Kensington, Chelsea and Westminster.

The statistics don’t lie. A recent report states that in the last 12 months, property prices in Mallorca have risen by almost 16%.

30% of purchases from overseas

In 2013, 30% of house sales in the Balearic Isles (Mallorca, Ibiza and Menorca) were due to buyers from overseas. 14% of these sales were of properties costing 500,000 euros or more.

It’s also true that the Balearic Isles have more foreign residents than anywhere else in Spain.

There are several reasons for the British interest in Mallorca property: low interest rates, a favourable pound to euro exchange rate, rising house prices back in the UK, and the fact that due to la crisis (economic downturn in Spain), there’s never been a better time to buy that dream home in the sun at a bargain price.

Estate agents excited by the recent trend

Antonio Fuster, CEO of Majorcan estate agents Balearic Properties, is excited by the recent trend in property price rises: “After a few difficult years economically speaking, the Mallorcan housing market is beginning to look healthier by the day.

“Foreign buyers and investors have played a big part in this state of affairs and we are seeing buyers from as far afield as China and Russia, as well as the more traditional markets such as Britain and Germany. Confidence is returning and there are some excellent property bargains to be had at the moment”, he says.

Majorca: the ‘in’ destination

It’s hardly surprising that Majorca is once again be coming the ‘in’ place to live. The island has so much to offer: a fabulous climate, beautiful beaches, lovely restaurants, fascinating culture and much more besides.

What’s more, Palma International Airport connects directly with all the major UK airports which are well served by low cost airlines such as Ryan Air, easyJet and Monarch.

Add to this that journey times from the airport to most parts of Mallorca are relatively short (Majorca is actually smaller in size than the English county of Devon) and you can see why so many Brits are attracted to the expatriate life in the sun.

Looking for a dream home in Mallorca?

If you are looking to buy a dream home in Mallorca, Balearic Properties, one of Majorca’s most experienced and respected estate agents, can advise you all the way in order to make your purchase of Mallorca property trouble free.

To view our latest Mallorcan properties go to: balearic-properties.com

Or why not pop in to one of our offices for a friendly chat? You are most welcome!