Brits still keen on property in Mallorca

Country:  Central, Other Spanish Places, Spain; Other Spanish Places, Spain; Spain

20 June 2008

Despite the Spanish housing downturn, demand for property for sale in Mallorca remains strong, which in turn is driving up property prices on the island, according to Chesterton International.

Average property prices across the Balearic Islands have appreciated by a staggering 15.26% over the past year, according to figures published in the ‘El Mundo’ newspaper.

Andrew Hawkins, head of international at Chesterton, comments: “Mallorca remains a firm favourite with buyers from the UK and Ireland. People looking to buy property in Spain and the Balearics should carry out their own research rather than rely on some of the scare stories we have seen over recent months.

“There are some wonderful developments being built by very reputable developers like Taylor Woodrow. Undoubtedly, the market is a more difficult place at the moment. Nevertheless, there are deals to be done!”

Chesterton is currently offering a selection of properties for sale in Mallorca, in and around Cala Millor, Porto Cristo and Santa Ponsa. Property prices currently start from £190,000.