‘Spain reclaims its status as a property hotspot’
according to The Times
Spain is back on track with investors returning to cities such as Barcelona and Madrid, but also keeping an eye on the Balearic Islands, particularly on Mallorca.
Yet another international news article has emerged mentioning Mallorca and its property market. The latest article by The Times, titled Spain reclaims its status as a property hotspot, written by Carol Lewis in September 2019, talks about foreign investors returning to Spain, particularly to Barcelona to invest into luxury developments. This insightful article also mentions how ‘…the Balearics, in particular Ibiza and Mallorca, have had consistently strong property markets.’
Mallorca, Spain mentioned in The Times
This is not the first time Mallorca has been featured in The Times. In 2015, Helen Davies wrote an article titled Best Places to Live in the World: The winner, naming Palma de Mallorca as the victor. As a property hotspot, Spain has always attracted foreign investors, but such a statement only added fuel to the fire, with more encouraging articles following, such as Palma regenerated: why foreign buyers are looking at the city with fresh eyes, by Teresa Levonian Cole in April 2019.
Mallorca is among the most expensive property hotspots in Spain
The luxury property market in the Balearic Islands was always far less affected by the economic crisis which started in 2008. Many international buyers from countries like United Kingdom, Germany, Belgium, Switzerland and Sweden kept the luxury property market in Spain constantly afloat. The high quality of life in Mallorca, its historic old town, its white sand beaches and luxury offering is said to keep luxury properties rising 6% until 2022 due to its ‘property hotspot’ status.
Everyone wants a slice of paradise in Mallorca
Naturally, the most desirable locations include coastal areas, especially those with a wide range of profitable investment properties in Mallorca. The top areas for foreign investors and international buyers include the capital city of Palma and its suburbs, the southwest of Mallorca, particularly the municipality of Calvià, as well as Llucmajor, the largest municipality on island. These are also the top residential areas, sought-after for their luxury marinas, golf courses, sea views and beaches.
Reasons why foreign buyers keep investing in Mallorca
First and foremost, the Balearic Islands are beautiful. For many buyers from cold countries, it’s an absolute paradise in the Mediterranean. Foreigners are welcome and can easily adjust to local life. The dream properties, international schools, luxury boutiques, restaurants, beaches and great climate almost all year round, make it the perfect place to live and holiday in Spain. Buyers also find many profitable rental properties which can be used as holiday homes and rental investments.
Interested in buying property in Mallorca, Spain?
For those who can afford it, Mallorca is the ideal property market; charming, luxurious, profitable and sometimes even too good to be true. The luxury property market in Mallorca is sustained by an international desire for ‘the good life’. Whereas the population of Mallorca is just under 900,000, there are millions around the world dreaming of buying property in Mallorca. If you are one of those people, contact Balearic Properties to find your dream home in this property hotspot in Spain.