Advise on real estate financing on Mallorca
A property in a good location in Mallorca is one of the most stable investments in Europe. Even the real estate crisis in Spain, which in 2009 resulted in a dramatic price decline in many holiday destinations, could not harm the jewel of the Mediterranean.
In the last three years there was a minimal price decline of a maximum of 5-10%, says Stephan Hoffmann. As the Listing Manager of Porta Mallorquina he administrates currently more than 1,800 properties in Mallorca. The slight decline should be seen as a natural market correction since after the new millennium, the real estate prices were ascending yearly in double digits untill 2008.
„The price level has stabilized“,
notes Stephan Hoffmann. Especially villas in front sea line and well maintained country homes, fincas, are still...