Mallorca is the Favourite for Wealthy Buyer
Property Experts on the Island of Mallorca have confirmed that Mallorca is one of the world’s top destinations for foreigners to buy luxury properties and that in the first quarter of 2015 the prices have risen by 10 to 15 per cent.
In fact in some areas of the island the prices of Luxury properties can cost as much as €12000 per square metre.
The buyers purchasing Luxury properties originate mainly from Germany, Great Britain and Scandinavia and the preferred locations are Part Andratx, Bendinat, Portals Nous and Santa Ponsa as well as Pollensa, the old part of Palma and Son Vida.
This demonstrates that most of Europe is now in recovery from the recession and that consumer confidence is growing leading to increased spending and this in turn will push up the prices which is great news for property owners on the island!