Market Spotlight: Mallorca, Spain
“So far 2013 has been much better than we hoped [in January],” says Daniel Chavarria Waschke, Managing Director at Mallorca Sotheby’s International Realty. “The trend now is for bigger, better and more expensive villas. Planning applications show two adjacent plots being bought to create substantial properties. Clients want homes finished and furnished to a high standard of decor and will pay close to asking price for their dream property. And, with supply so low, prices are far from decreasing, instead going up in prime locations.”
Daniel continues, “Three years ago there was perhaps nothing officially on the market priced over ten million euros, now we have 21 such properties listed on our website – seven of those in Port Andratx – and a further ten that we are marketing in a more discreet manner. There are now no prime plots available between Port Andratx and Portals Nous for less than two million euros.
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Source: Victoria Rand in Market Spotlights | SIR Blog | August 15, 2013
