Mallorca’s permanent foreign community of 16.8% is the largest of any province in Spain with significant numbers coming from Germany, France, Italy and South America. The population of Mallorca stands at 791,000, with that of the Balearics in general at just over a million, an increase of 31% in the last ten years. The general objective of offering the visitor quality and variety year round has been embraced by all sectors of the island’s tourism industry. The overall number of hotel establishments has been reduced, whilst the number of 4 and 5 star hotels has almost tripled since the early 90s. In general, most property professionals agree that business has been healthy, with steady requests for the blueprint mallorca villa , preferably with sea view
Mallorca ( Majorca ) Property: Forecasts for 2008
If you have kept up with any reports in the overseas property press, the general picture for Spain as a whole is of a slow but steady fall in property price inflation, which suggests a soft landing for the Spanish property market after a decade-long boom.
However, there are local differences and unlike parts of mainland Spain, Mallorca has not not suffered from an over-supply of speculative builds, therefore demand, especially for quality mallorca apartments, is in balance with or exceeding supply.
Coupled with the lack of good plots (particularly in the south west) and restrictions on licences, prices for quality property in sought after locations are still likely to rise 7-10%, depending on area.
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