Please see below for our Mallorca Property Market News Archive
An interesting report on the Mallorca property market highlights the relative robustness of the market, when compared with mainland Spain, along with the number of super rich looking to make Mallorca a home for them and their money.
The Mallorca property market is, in common with most international real estate markets, is experiencing a general slowdown although few see this as a “crisis”. The reality is that while much of the market has indeed weakened certain segments of the market are still growing, where the supply and demand ratio has remained in balance or indeed where demand is still outstripping supply.
Sol Melia owners, the Escarrer family, have called on the Balearic Government to change planning regulations in order to permit the development, and conversion of existing hotels, into “condehotels” – establishments where private individuals are able to purchase rooms for their own use or for leasing back to the hotel operator for reletting.
2007 saw the first fall in the total number of mortgages granted in the Balearic Islands since 1996. The fall of 3.87% is put down to rising interest rates and the tightening of mortgage lending criteria by lenders.
The Mallorca ecology alliance, the GOB, believes that the Mallorca affordable housing problem can be solved using the existing housing stock and existing land designated for new development rather than reclassifying rural land as proposed by the current Autonomous Region Government for the Balearic Islands. ... More »
The Town Hall in Llucmajor, Mallorca is the latest to confirm a bottle neck in the processing of planning consents over the last 12 months... More »
The price of property in the Balearic Islands increased by 4.2% over the last 12 months according to the Spanish Ministry of Housing.... More »
The Government of the Balearic Islands has tightend it's measures to capture individuals or Companies that under declare the value of properties in sale transactions.With immediate effect they have asked that Notaries (via whom all property sale and property mortgage transactions must pass) must provide a copy of all official valuations associated with new mortgages. ... More »
Youngsters in Mallorca and the wider Balearic Islands are the second worst off in Spain in terms of the % of their monthly salary they would need to utilise in order to purchase a property. The % figure stands at a huge 85% only just behind the Basque Country with 86%.... More »
