Real estate market in the centre of Mallorca - Tendency 2018
The real estate market in the centre of Mallorca has establized for flats after rising slightly up in 2017. For the townhouses we notice much more demand, especially if the property has a patio o a garden. For this houses the offered prices started to rise up since more than 12 monthes and has had a push in may and september 2017 because of more sales and less offer.
For the country houses / fincas this trend is more remarkable and if in 2017 an offer, under the offered price, has lead to success, now for property up to 800.000 € there is nearly no price range to discuss, because there is more demand than offer.
Country houses offered for more than 800.000 € as well have a notable ingrease of demand and the prices, which rised up in spring 2017 are rising up now more slightly - especially for property offered for less than 1.000.000. The same situation is for plots, when they have yet their license to build.
The buyers are international and as well are back on the market the spanish buyers, because the banks started to finance the property.
The investment in a property in Mallorca gives as well the opportunity, if it has a touristic licence, to create an additional attractiveness. When you buy a second home, you may do in the weeks, when you not enjoy your holiday home by yourself, a holiday rental and this creates a rentability of the property.
The actual market situation still allows - as well with rising prices - to purchase a property and invest (if the property does not have) in heating, bathrooms, kitchen, insulation, because a potential buyer values very much this equipment and this gives the possibility, after some years of using the property, to sell it with a nice benefit.
As we see how the market is developing since december 2016 and the whole year 2017 over all kind of property, it is recomendable to purchase now, if the general decision to invest is already taken.
The centre of Majorca will enchant you with its picturesque landscapes and the authentic villages with their weekly markets faraway from tourism. Views to the surrounding mountains and partly to the sea make the central region attractive. The villages around Santa Maria, Santa Eugenia, Bunyola, Alaró, Consell and Binissalem, reknown for its wine-growing area, are attainable within twenty minutes of Palma. The villages oriented to the north coast such as Selva, Moscari, Sencelles, Costitx and Llubi surround the third biggest town of Majorca, Inca, well known for its leather factories. Since March 2007 Inca have a modern newly built hospital. The medieval capital Sineu and the surrounding villages Pina, Lloret, Ariany or Petra mark the geographical centre of the island.