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Overseas Property News
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Property and mortgage despair in Mallorca
Country: Spain
3 November 2008
The volume of property sales and mortgages issued in Mallorca, Spain, continued to plummet in August, according to fresh data released by the Instituto Nacional de Statistica.
Mallorca property sales dropped by 44%, compared to a national average decline of 37% (23% in new home sales and 47% in the second hand market), while the number of new mortgages reduced by almost 50%. A lack of available credit has been cited as the main reason for these falls.
The fall in residential sales and in turn property prices looks set to continue over the next few months, which is bad news for existing owners of homes in Spain, but presents good buying opportunities, particularly for people looking to buy property in Mallorca.
Browse other Spainish property news stories, read articles about investing and buying property in Spain or view our range of property in Spain.
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Please visit http://www.aliciafarm.com for full contact details, photos, slideshows and room plans.
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Price: €75,000
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Type: Bungalow
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South-facing, furnished, upper floor, large (50m²) 1 bedroom maisonette with spectacular views over the pool and gardens, in excellent condition and in a very beautiful complex.
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Price: €79,000
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Type: Apartment
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Price: €79,000
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Type: Apartment
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UNIQUE OFFER. Ground floor, three bed one bath maisonette with 44 m² of terrace and garden, in Condado de Alhama, Murcia.
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Price: €80,000
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Type: Bungalow
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![RLE102, Turquia, Spain]()
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