Time to pick up a Mallorca property bargain?
After a couple of years of recession people are slowly but surely coming back to the property market in Mallorca. That is not to say the downturn is all over, but inevitably it is the locations with the strongest demand for properties that recover most quickly after a downturn, and the time to take advantage of this is when prices are still under pressure.
For many years Mallorca has been at the forefront as a location to buy holiday properties, and more recently the island has become one of the most desirable places to own a permanent residence. Savvy buyers recognise demand for properties in Mallorca will return more quickly than in mainland Spain or most other European locations. They see a buying opportunity now that will not last forever.
Having said this not all “bargain” opportunities are as attractive as they at first appear. In fact properties advertised at extraordinary reductions are unlikely to be the best investments. Good properties in the best locations hold their value more than those in less well established areas, and it is these prime properties that will escalate most quickly and by the largest amount as the world economy improves.
In this context price reductions are largely meaningless. The important consideration is whether the property is likely to appreciate healthily in the future. With this in mind it is important to spend time researching areas within Mallorca before you start looking at properties.
One way to tap into real expertise in the search and buying process is to use a property finder service such as Mallorca Property Partners. They can save a great deal of time as well as ensuring you have the best property opportunities covered. Even seasoned buyers will benefit from the local expertise and contact base they can offer.
Find Mallorca property for sale.