27 January 2006

Property hotspots in Mallorca

This year’s property hotspots in Mallorca will be business premises and middle-priced holiday homes.

The shortage of business premises in Palma and other large cities means the price of these properties is set to rocket. Meanwhile in the domestic market, the luxurious end of the market will stay stable whilst the mid-range, more-affordable property market will be buoyant.

There is no sign of the foreign investors drying up as industry insiders claim that currently 700,000 Europeans are thinking about buying a second home somewhere in the south Mediterranean region.

Mallorca is set to stay as one of the most sought-after destinations for holiday homes due to its safety, culture and cheap airline connections. However, a different type of investor is heading this way.

Instead of large holiday homes on a golf course, purchasers are seeking smaller boltholes near airports for that long weekend away from base.

The mid-range property priced around 400,000 euros is set to become the most sought after type of second home in the sun.

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