Still a good investment to buy property in Mallorca?

In our article about buying property in Spain, we focussed on how the market is recovering from the crisis and why the property prices are starting to rise again in Mallorca which is in fact what the investors are looking for at the moment. Our property experts have selected this month the following featured villas and apartments for sale that we believe offer the right combination of price, quality and location for a variety of investments goals.

There is no single reason why you should invest in a house on the largest Balearic island right now. It may be a second home, a more occasional holiday home, a new home in a new life or a rental investment. As you will read elsewhere in the blog, there has been some fall in prices across the island, though rents have remained steady and your property would make a solid rental throughout the year or, for higher rents, a holiday home in the summer season.

Why is Mallorca so popular?

There are about 300 days of sunshine each year, is one of the main reasons why northern european citizens are interested in buying a property in Mallorca. Although winters are not necessarily warm, the fact that snow in the higher Tramuntana regions makes the local headlines will give you some idea of the climate compared to the severity of a British winter. In fact, spending Christmas outside in shirtsleeves is not uncommon.

The following video posted by "Mallorca Properties", shows why there are so many people wanting to invest in Mallorca, isn't it a paradise?

 

 

Who is buying?

It is not only some 20,000 British who have invested in Mallorca as a permanent home (some 60,000 actually have a second home here, too). There are currently around 55,000 EU residents in total. The broad appeal of Mallorcan investment certainly extends to one of Europe’s stronger economies right now, with German buyers notably returning, according to recent reports. Apart from the world-class shopping and restaurants of Palma, it is hard to argue with 20 golf courses across Mallorca, 25 marinas and all-year round opportunities for walking in coastal and mountain scenery. Also it is no secret that some of the best cyclists in the world train in Mallorca during the winter months.

Mallorca, one of Europe's Best Places To Live

In any case, for serious Mallorca property investors, the island has always been a sound proposition because whatever affects the rest of the world economically, land in Mallorca is finite. The island itself is not very large and property remains highly prized. Opportunities for new construction are still good as long as you own a suitably large plot of land so as to minimize density of development. All new-build homes are of a regulated standard nowadays.

As for actually reaching your investment, the island is rarely much more than two hours flight from European locations, and Palma Airport (which had its record day in June, incidentally) is the gateway to Scandinavian and all German and British destinations too. Ferries link the mainland and the other Balearic Islands and Spain itself is well-known for good motorway and high-speed rail links.