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We have experienced a very positive start to the New Year with an active January on the real estate market, successfully closing 9 sales with prices up to 2 m €. This is for the beginning of the year, which normally is a quiet time,... |
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In the picturesque village of Sa Coma at Mallorca’s far western tip lies a most pleasant surprise. Situated just a few minutes drive from Puerto Andratx, one of the most desirable and prestigious residential locations on the island, is the Andratx Cultural Centre. |
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A hundred years have past since Art Nouveau was at its peak. Spurred by the industrial revolution, it was the product of a new generation of talented artists ... |
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Back in the 1950’s when American born Steve Kusak purchased with three other friends what he considered to be a “ typical Mallorcan finca”, little did he know that he had instigated the birth of the most luxurious and charismatic urbanisation on the island: Son Vida. |
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Mallorca certainly has its fair share of famous visitors, many of them purchasing homes here, drawn by the islands natural beauty and tranquillity... |
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In the shadow of Palma’s magnificent Cathedral lays one of the few remaining testaments of the three hundred year Moorish occupation |
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On a small isle off the Western corner of Mallorca, dragons roam wild and free; or so legend would have us believe. Sa Dragonera Island, situated less than a kilometre from the coast, was most likely named after its shape, ... |
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First Mallorca, Heidi Stadler reports the sale of properties for the third quarter 2009 is getting better and the usual confidence in investments in the island is slowly but surely returning. |
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A relaxed get-together of international clientele and local dignities took place at the First Mallorca offices in Puerto Andratx last Saturday, 10th of October. |
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The narrow stone staircase spirals downwards into blackness. A quick inspection soon reveals there is no arrow or sign explaining where it leads. ... |
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Now is the moment to invest in Mallorca
While Europe is still suffering unusually cold weather, we are enjoying blue skies in Mallorca, although temperatures might still be slightly below 10º C in the mornings and to quote an expression understood by our German speaking clientele "you need to dress like an onion in this climate and towards lunch time it gets warmer and you feel like taking off some layers".
We have experienced a very positive start to the New Year with an active January on the real estate market, successfully closing 9 sales with prices up to 2 m €. This is for the beginning of the year, which normally is a quiet time, nearly as unusual as the current weather in Europe. Good news of course, which after studying market figures for 2009 that show a general loss in turn-over of real estate sales on Mallorca of approximately 25 %. Alas First Mallorca was not spared. As good accountants we plan 2010 in a cautious way, keeping last year´s figures in mind.
On the other hand the market shows us a clear push in the direction of an overall recovery. Purchasers and renters are very cautious where their money is concerned: inflation is a subject that is discussed more than once with investors. Real Estate prices are attractive now and motivate the finalisation of sales transactions. Renters who were on stand-by for a final purchase, are on the hunt for the perfect property to secure their funds. This seems to be the general mood. Hence no exaggeration in saying: this is the moment to invest in Mallorca!
The purchasers this January were of German nationality but also British, Spanish and Scandinavians. The buyers´ market has made owners aware of a need for prices that reflect the new market behaviour. This in itself has re-animated the market. As we have said all along: Mallorca has never ceased to be of interest for a wide range of property purchasers. If, in the last months, they have not taken their purchase decision, they have merely delayed it and have not "given-up". On certain days of the week we experience an increase of interest in our webpage by up to 100 %. Most importantly we are experiencing more active viewings, partly resulting in sensible offers and thus concluded deals. A constant flow of international inquiries reserving future property viewing visits is giving us a healthy outlook for the rest of 2010.
It feels good to be able to send you this short and positive market report during the first few days of February. This is equally the time to enjoy a most beautiful countryside on Mallorca with almond blossoms now emerging. The 19th International Bicycle Race will take place from 7th to 11th of February. We must not forget,- Mallorca is first and foremost an island that stands for enjoyment and fun! We are looking forward to seeing you again here shortly.
With best regards
Robert Maunder
Chief Executive
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